Norway's Klaveness Q3 profit rises on higher earning days and reduced dry-docking
Norway's Klaveness Q3 profit rises on higher earning days and reduced dry-docking
Overview
Norway combination carrier's Q3 EBITDA rose 5% from prior qtr
Profit after tax up 14% from Q2, driven by more earning days and less dry-docking
Company raised Q3 dividend by 20% from previous quarter
Outlook
Company guides Q4 CABU TCE earnings at $43,000–48,000/day and CLEANBU at $57,000–67,000/day
Company expects record-high Q4 TCE earnings, supported by strong tanker and dry bulk markets
KCC expects to end 2026 with a solid contract book despite medium-term market uncertainty
Result Drivers
MORE EARNING DAYS - Co attributed higher Q3 profit and EBITDA to increased earning days from newbuilding deliveries and reduced dry-docking
STRONG MARKETS - CEO cited buoyant tanker market and solid dry bulk earnings as supporting results
Company press release: ID:nMFN9Qxlzx
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Dividend |
| $0.36 |
|
Q3 EBITDA |
| $40.40 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "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 NOK122.00, about 13.2% above its October 26 closing price of NOK107.80
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 7 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.)