DHT Holdings reported net income of $44.8 million for the quarter ended September 30, 2025, translating to earnings per share of 28 cents on a net income basis.
Adjusted net profit per share, excluding a gain on vessel sale and a non‑cash derivative loss, was $0.18, slightly below the consensus estimate of 19 cents and the adjusted EPS of $0.22 reported for the same quarter in 2024.
Total revenue on a time‑charter equivalent basis was $79.1 million, a 14.6 % decline from $84.35 million year‑over‑year, and marginally below the analyst forecast of $79.28 million.
The company’s fleet operated at a high utilization rate, with 901 time‑charter days secured at $42,200 per day and 1,070 spot days booked at an average of $64,900 per day, supporting a combined TCE of $40,500 per day for the quarter.
Management highlighted strong VLCC market conditions driven by global oil demand and a fragmented fleet, while noting that the company missed analyst expectations for both revenue and adjusted EPS.
DHT Holdings maintained a low leverage profile, with financial leverage at 12.4 % and net debt below $9 million per vessel, and total liquidity of $298 million, including a $308.4 million credit facility for newbuildings.
The board approved a quarterly dividend of $0.18 per share, marking the 63rd consecutive quarterly cash dividend.
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