NYSE$NAT
Nordic American Tankers Ltd · Q4 2025 earnings
Q4 2025 earnings · · Before market open · Investor relations
Briefing
Nordic American Tankers reported Q4 2025 net profit of $11.7 million as fleet TCE rose 25% sequentially to $35,000 per day and declared a $0.17 dividend.
Nordic American Tankers Limited reported its strongest quarter of 2025 for the period ended December 31, 2025, with net profit of $11.7 million compared to a $2.8 million net loss in Q3. Net voyage revenue was $58.8 million and adjusted EBITDA was $34.7 million, up $13.3 million quarter over quarter. Average time charter equivalent (TCE) for the 20-vessel Suezmax fleet was $35,000 per day versus $27,490 in Q3, while operating costs averaged about $9,000 per day per ship. The board declared a Q4 cash dividend of $0.17 per share, payable March 24, 2026, marking the 114th consecutive quarterly dividend. Management noted nearly two-thirds of Q1 2026 spot days booked at about $55,000 per day and a new one-year fixed contract above $50,000 per day with an oil major.
- Q4 2025 net profit was $11.7 million with adjusted EBITDA of $34.7 million on net voyage revenue of $58.8 million.
- Fleet TCE averaged $35,000/day per Suezmax, up 25% from Q3's $27,490/day.
- Cash dividend of $0.17 per share declared — the 114th consecutive quarterly payout.
- Cash position exceeded $100 million; net debt averaged $15.3 million per ship across 20 vessels.
- Strong forward bookings: ~65% of Q1 2026 spot days at ~$55,000/day; new 1-year contract above $50,000/day.
Headline financials
Revenue & EPS history
Nordic American Tankers · Revenue · Quarterly
$58.8M
Forward guidance
Management expects the tanker market to remain strong, with nearly two-thirds of Q1 2026 spot days booked at about $55,000 per day and bookings extending well into Q2 2026.
Tailwinds
- Q1 2026 spot days largely booked at ~$55,000/day
- New one-year fixed contract above $50,000/day with oil major
- Scarcity of compliant Suezmax tonnage supports higher rates
Headwinds
- Spot tanker rates expected to remain volatile near term
- Fleet reduced via vessel sales; two newbuilds not delivering until 2028
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2025
+0.3%
Avg return
Earnings day
+1.8%
Avg return
5 days after
-0.8%
Avg return
30 days after
46%
31 / 67 earnings
Positive
+41.5%
Q4 2021
Best reaction
-15.4%
Q3 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.5% | +0.6% | — | |
| Q4 2025 | +7.4% | -1.9% | +0.0% | |
| Q3 2025 | +7.4% | -0.5% | -8.8% | |
| Q2 2025 | +1.9% | +4.5% | +7.1% | |
| Q1 2025 | +0.7% | +1.9% | +13.1% | |
| Q4 2024 | -0.4% | +0.4% | +2.4% | |
| Q3 2024 | -8.3% | -4.2% | -14.2% | |
| Q2 2024 | +3.3% | +1.9% | +1.1% | |
| Q1 2024 | -2.1% | -2.8% | -5.9% | |
| Q4 2023 | +0.5% | -2.9% | -5.3% | |
| Q3 2023 | -9.3% | -6.8% | -1.9% | |
| Q2 2023 | +0.5% | -4.4% | -2.0% | |
| Q1 2023 | +3.5% | +3.0% | +1.6% | |
| Q4 2022 | +16.6% | +19.5% | +4.5% | |
| Q3 2022 | +3.2% | +5.5% | -11.8% | |
| Q2 2022 | -3.7% | -3.7% | -1.1% | |
| Q1 2022 | -8.3% | -5.2% | -7.4% | |
| Q4 2021 | +41.5% | +32.2% | +10.5% | |
| Q3 2021 | -2.6% | -3.1% | -6.3% | |
| Q2 2021 | +1.7% | +9.0% | +8.6% | |
| Q1 2021 | +2.5% | -2.5% | -3.4% | |
| Q4 2020 | +0.0% | +3.4% | +21.3% | |
| Q3 2020 | +2.8% | +4.1% | +4.4% | |
| Q2 2020 | -3.8% | -4.0% | -13.1% | |
| Q1 2020 | -10.3% | -10.9% | -10.5% | |
| Q4 2019 | -3.5% | -5.2% | -21.7% | |
| Q3 2019 | -2.4% | -1.9% | +31.7% | |
| Q2 2019 | +6.3% | +13.1% | +17.1% | |
| Q1 2019 | +13.7% | +22.7% | +8.5% | |
| Q4 2018 | +0.4% | +4.8% | -6.2% | |
| Q3 2018 | -15.4% | -14.8% | -21.0% | |
| Q2 2018 | -10.4% | -10.0% | -11.7% | |
| Q1 2018 | +10.0% | +7.5% | +7.5% | |
| Q4 2017 | +8.6% | +10.7% | +10.7% | |
| Q3 2017 | -5.0% | -2.3% | -8.5% | |
| Q2 2017 | +4.1% | -0.8% | -4.4% | |
| Q1 2017 | +1.4% | +2.8% | -16.3% | |
| Q4 2016 | +2.9% | +1.2% | -6.9% | |
| Q3 2016 | +11.9% | +9.9% | +18.9% | |
| Q2 2016 | +2.2% | +1.4% | -13.0% | |
| Q1 2016 | -1.8% | — | — | |
| Q4 2015 | -1.0% | — | — | |
| Q3 2015 | -0.7% | — | — | |
| Q2 2015 | -2.7% | — | — | |
| Q1 2015 | +5.4% | — | — | |
| Q4 2014 | -3.5% | — | — | |
| Q3 2014 | -2.2% | — | — | |
| Q2 2014 | -2.2% | — | — | |
| Q1 2014 | +9.0% | — | — | |
| Q4 2013 | -3.0% | — | — | |
| Q3 2013 | +3.7% | — | — | |
| Q2 2013 | -5.9% | — | — | |
| Q1 2013 | -4.6% | — | — | |
| Q2 2012 | +4.5% | — | — | |
| Q4 2012 | +2.2% | — | — | |
| Q3 2012 | -1.0% | — | — | |
| Q4 2011 | -1.3% | — | — | |
| Q1 2012 | -8.1% | — | — | |
| Q3 2011 | -8.1% | — | — | |
| Q3 2010 | -8.1% | — | — | |
| Q2 2011 | +1.8% | — | — | |
| Q4 2010 | -2.1% | — | — | |
| Q4 2008 | -2.1% | — | — | |
| Q4 2009 | -2.1% | — | — | |
| Q1 2011 | +0.4% | — | — | |
| Q2 2010 | -3.6% | — | — | |
| Q1 2010 | -10.2% | — | — | |
| Q3 2009 | — | — | — |
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