Denmark's Norden raises 2026 profit outlook on tanker strength, vessel sales

Dampskibsselskabet Norden A/S

28/04/2026 07:24

Overview

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

Company upgraded 2026 net profit guidance to $70-140 mln on vessel sales and stronger tanker market

Company expects $64 mln in vessel sales gains for 2026, up from previous $20 mln guidance

Outlook

NORDEN raises 2026 full-year net profit guidance to USD 70-140 mln from USD 30-100 mln

Company expects significant uplift in tanker spot earnings for full-year 2026

NORDEN now expects 2026 sales gains from signed transactions of USD 64 mln, up from USD 20 mln

Result Drivers

TANKER MARKET DISRUPTION - Tanker unit performance was driven by surging spot rates due to global oil flow disruptions from the conflict in Iran, leading to a rebalancing of trade to meet regional demand

DRY CARGO LOSSES - Dry cargo losses were driven by charter expenses, operational and insurance costs related to the conflict in Iran, and fleet repositioning costs

Company press release: ID:nWkr34mvxZ

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
$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 0.1% below its April 27 closing price of DKK286.20

The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 18 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.)