Denmark's Norden Q1 profit rises on tanker strength, dry cargo hit by Gulf conflict

Dampskibsselskabet Norden A/S

06/05/2026 07:01

Overview

Denmark shipping firm's Q1 net profit was $11 mln, driven by strong tanker performance

Dry cargo impacted by Persian Gulf conflict

Company announced $25 mln share buyback and $35 mln dividend for Q1 2026

Outlook

NORDEN maintains 2026 net profit guidance at USD 70-140 mln, including vessel sales gains

Company says Persian Gulf conflict creates high uncertainty for near-term outlook

NORDEN says financial strength and agile business model support navigation of market conditions

Result Drivers

TANKER MARKET - Co said strong tanker performance was driven by surging spot rates due to global oil flow disruptions, captured through disciplined execution and fleet repositioning

DRY CARGO IMPACT - Co said dry cargo losses were driven by regional positioning and the Persian Gulf conflict, which led to the closure of the Strait of Hormuz and higher regional bunker premiums

VESSEL SALES - Gains from recent vessel sales contributed to results and are included in full-year net profit guidance

Company press release: ID:nWkr5bq2N5

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Profit
$11 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the marine freight & logistics peer group is "hold"

Wall Street's median 12-month price target for Dampskibsselskabet Norden A/S is DKK286.00, about 8.4% below its May 5 closing price of DKK312.20

The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 26 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)