DHT Holdings, Inc. today announced its financial results for the third quarter ended September 30, 2024, reporting revenues on a time charter equivalent (TCE) basis of $92.641 million. The company achieved a net income of $35.189 million, translating to earnings per share (EPS) of $0.22 for the quarter. Adjusted EBITDA for the period stood at $70.406 million, reflecting robust operational profitability.
The average TCE for the fleet during Q3 2024 was $42,400 per day, indicating strong charter rates for its Very Large Crude Carriers. This performance underscores the company's ability to capitalize on market conditions in the crude oil tanker segment. The company also declared a cash dividend of $0.22 per share, aligning with its capital allocation policy.
As of September 30, 2024, DHT Holdings maintained a solid financial position with total liquidity reaching $264 million, comprising $73.8 million in cash and $190.1 million available under revolving credit facilities. For the fourth quarter of 2024, the company reported that 64% of its spot days were booked at an average rate of $41,000 per day, with a spot P&L break-even estimated at $21,500 per day.
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