Norway's Odfjell Q1 net income falls

Odfjell SE

06/05/2026 19:10

Overview

Norway chemical tanker operator's Q1 net income fell from prior qtr amid Middle East conflict

Q1 EBIT declined to $46 mln from $53 mln in Q4 2025

Company agreed to buy four new vessels for $290 mln after quarter-end

Outlook

Odfjell expects underlying net result in 2Q26 to be higher than in 1Q26

Company says disruption in Strait of Hormuz has led to surge in rates in most markets

Odfjell notes ongoing geopolitical uncertainty and volatility impacting operations

Result Drivers

MIDDLE EAST CONFLICT IMPACT - Co said weaker earnings reflected initial negative effects from the conflict in the Middle East Gulf, including increased ballasting, rerouting, and higher provisioning and insurance costs

FLEET RENEWAL AND EXPANSION - Three newbuildings delivered on time charter in Q1, and co agreed to purchase four more vessels after quarter-end

INCREASED CARBON INTENSITY - Co said carbon intensity rose due to seasonal effects, increased docking activity, and inefficiencies related to the Middle East Gulf conflict

Company press release: ID:nMFN2HRtqk

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted Net Income
$26 mln
Q1 Net Income
$32 mln
Q1 EBIT
$46 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the oil & gas transportation services peer group is "buy."

Wall Street's median 12-month price target for Odfjell SE is NOK120.00, about 3.4% above its May 6 closing price of NOK116.00

The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 7 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)