Norway's Klaveness combination carriers Q2 EBITDA rises on stronger markets
Norway's Klaveness combination carriers Q2 EBITDA rises on stronger markets
Overview
Norway combination carrier operator's Q2 EBITDA rose 31% from Q1 on higher TCE earnings
Profit after tax for Q2 increased 33% quarter-over-quarter
Company completed CABU newbuilding program and raised quarterly dividend to $0.30/share
Outlook
Klaveness sees Q3 2026 TCE earnings for CABU fleet at $33,500-34,500/day
Company expects Q3 2026 TCE earnings for CLEANBU fleet at $36,500-38,500/day
Klaveness expects market conditions and fleet utilization to remain supportive over next quarters
Result Drivers
STRONGER MARKETS - Higher TCE earnings in both segments supported by tighter, volatile markets, partly driven by the Middle East situation
FLEET EXPANSION - Completion of CABU newbuilding program increased fleet size and operational capacity
INSURANCE COMPENSATION - Loss-of-hire insurance offset earnings lost from vessel disruptions
Company press release: ID:nMFN2g8YM3
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Dividend |
| $0.30 |
|
Q2 EBITDA |
| $38.50 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the marine freight & logistics peer group is "buy"
Wall Street's median 12-month price target for Klaveness Combination Carriers ASA is NOK119.00, about 15.8% above its August 24 closing price of NOK102.80
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 8 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.)