DHT

Interested in DHT Holdings, Inc.? Here are five stocks we like better. DHT delivered record second-quarter results, with $255 million in TCE revenue, $231 million in adjusted EBITDA and $198.3 million in net income, or $1.23 per share. First-half net income of $362.9 million already surpassed the company’s previous full-year record. The company approved a $1.22-per-share dividend, maintaining its policy of distributing 100% of ordinary net income, while ending the quarter with $569 million in liquidity and just 14.1% market-value leverage. DHT expanded and strengthened its fleet and financing, ordering a VLCC for delivery in 2028 and securing a new $250 million revolving credit facility. Management remains selective on growth, balancing spot-market exposure with fixed-rate charters amid strong tanker rates and regional disruptions. Strait of Hormuz Tensions Spike Tanker Trade: These 2 Stocks Are Set to Benefit DHT (NYSE:DHT) reported its strongest quarter on record in the second quarter of 2026, as elevated tanker rates and commercial performance drove net income above the company’s previous annual earnings record. Chief Financial Officer Laila Halvorsen said the company generated $255 million of time-charter-equivalent, or TCE, revenue and $231 million in adjusted EBITDA during the quarter. Net income totaled $198.3 million, or $1.23 per share. Excluding a $1.3 million non-cash fair-value gain on interest-rate derivatives, ordinary net income was $197 million, or $1.22 per share. → Meta’s Earnings Drop Shows Wall Street Wants More Than Ad Growth 3 Overlooked Dividend Plays for Income in Volatile Times For the first half of 2026, DHT reported $412.2 million in TCE revenue, $364.3 million in adjusted EBITDA and $362.9 million in net income. Halvorsen said first-half earnings exceeded DHT’s prior full-year record of $266.3 million, set in 2020. DHT’s spot-market vessels earned an average of $162,600 per day during the second quarter, while vessels operating under time-charter contracts earned $90,800 per day. The fleet’s combined average TCE rate was $126,700 per day. → Sandisk Just Delivered a Blowout Quarter—Here's Why the Stock Is Falling Vessel operating expenses were $18.6 million, while general and administrative expenses totaled $5.6 million. G&A included about $700,000 in non-recurring, non-cash costs related to shares that vested in the quarter. The board approved a second-quarter cash dividend of $1.22 per share, consistent with DHT’s policy of distributing 100% of ordinary net income through quarterly dividends. Halvorsen said the payment represents the company’s 66th consecutive quarterly cash dividend. Shares are scheduled to trade ex-dividend Aug. 17, with payment scheduled for Aug. 24 to shareholders of record as of Aug. 17. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High DHT ended the quarter with $569 million of total liquidity, including $161.7 million of cash and $407.5 million available under revolving credit facilities. Financial leverage stood at 14.1% based on market values for the fleet, and net debt was $11.9 million per vessel, according to the company. During the quarter, operations generated $231 million in EBITDA. DHT used cash for $20 million of debt repayment and cash interest, $103 million of dividends, $7.2 million of vessel investments, $1.3 million of investments in vessels under construction and $56 million of long-term debt prepayments. President and Chief Executive Officer Svein Moxnes Harfjeld said DHT secured one-year charter contracts for the 2012-built DHT Sundarbans and 2011-built DHT Amazon at an average rate of $109,000 per day. The company also ordered a new VLCC, the DHT Oryx, from Hanwha Ocean for delivery in August 2028. The vessel will be a sister ship to the DHT Antelope and DHT Addax, which were delivered earlier this year, and will feature a large carrying capacity and an exhaust-gas cleaning system. DHT arranged a new $250 million reducing revolving credit facility with a seven-year tenor, a 20-year repayment profile and pricing of 135 basis points above SOFR. Harfjeld said the facility was meaningfully oversubscribed and includes an uncommitted $250 million accordion feature. Subsequent to quarter-end, DHT fixed the 2015-built DHT Jaguar on a three-year charter at $75,000 per day with a global energy company. The vessel is expected to begin the charter in September. The company also completed the sale of the 2007-built DHT Bauhinia in July, generating $51 million of total cash proceeds and a net capital gain of $34 million. In addition, DHT took delivery of the DHT Impala from Hyundai in July, completing its four-vessel newbuilding program for 2026. For the third quarter, DHT expects 1,020 time-charter days at an average rate of $75,900 per day. The figure includes July profit sharing and base rates for August and September on contracts with profit-sharing provisions. The company expects 1,029 spot-market days during the quarter. Of those days, 600 days, or 58%, had been booked at an average rate of $152,700 per day. Halvorsen said the company’s spot P&L breakeven for the quarter is expected to be below zero because anticipated time-charter earnings exceed forecast costs. DHT estimated its second-half 2026 P&L breakeven at $29,700 per day and its cash breakeven at $22,600 per day. The difference of $7,100 per day is expected to remain within the company for general corporate purposes. Five of DHT’s seven planned dry docks for 2026 had been completed as of the call, including the DHT Lion, DHT Amazon, DHT Osprey, DHT Puma and DHT Panther. The company said the completed projects were on time and within expectations. The DHT Harrier and DHT Redwood are scheduled for dry docks and special surveys during the second half. Harfjeld attributed strong tanker-market conditions to supply-and-demand factors, fleet consolidation and regional disruptions. He said DHT did not trade its fleet in the Persian Gulf during the period because of the company’s safety priorities, even as operators willing to enter high-risk areas received substantial risk premiums. In response to an analyst question, Harfjeld said conditions in the Red Sea had made some trade routes more challenging. DHT had conducted several Yanbu loadings, but vessels have increasingly exited the Red Sea through the Suez Canal amid threats from the Houthis, adding transportation distance and reducing fleet efficiency. Harfjeld said DHT intends to continue balancing spot-market exposure with selective fixed-rate charter coverage. He added that the company aims to expand over time but remains cautious about acquiring secondhand vessels at current asset values. “Patience here is key,” he said, noting that any growth must be profitable rather than driven by asset purchases alone. DHT Holdings, Inc (NYSE: DHT) is a Bermuda-based independent crude oil tanker company that provides seaborne transportation of crude oil on a worldwide basis. The company's core business involves the ownership and operation of a modern fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are chartered to oil producers, trading houses and national oil companies. Through spot charters, time-charters and tanker pooling arrangements, DHT connects crude oil exporters with refining hubs in Asia, Europe, North America and other global markets. Founded in 2005 and listed on the New York Stock Exchange later that year, DHT has grown its presence in the maritime sector by focusing on operational efficiency and disciplined capital management. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "DHT Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Never miss an important update on your stock portfolio and cut through the noise. Over 7 million investors trust Simply Wall St to stay informed where it matters for FREE. DHT Holdings (DHT) drew investor attention after reporting its strongest ever quarter, with net income more than tripling year on year, supported by higher revenue, robust margins, and continued dividend payments. See our latest analysis for DHT Holdings. At a share price of $18.35, DHT Holdings has seen solid momentum this year, with a year to date share price return of 56.30% and a 1 year total shareholder return of 72.58% pointing to strong recent gains on top of multi year compounding. If DHT's latest quarter has you thinking about where else strong performance might be building, it could be worth scanning other opportunities through the 21 top founder-led companies DHT Holdings just delivered a record quarter and a strong run in the share price. The business looks powerful right now. The next step is to see whether that strength is already fully reflected in today’s valuation. The most followed narrative on DHT Holdings sees a fair value of $36 per share compared with the recent price of $18.35. That gap rests on a very specific view of tanker earnings power and how long current conditions might support elevated returns. Read the complete narrative. Want to understand why this narrative treats current tanker strength as more than a short blip? The fair value hinges on sustained high day rates, thick profit margins and a future earnings base that looks very different to historic averages. Curious which revenue and earnings assumptions are doing the heavy lifting in that $36 figure. Result: Fair Value of $36 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, this DHT Holdings narrative leans heavily on sustained conflict risk and elevated VLCC rates, and any rapid easing or route normalization could quickly undermine those earnings assumptions. Find out about the key risks to this DHT Holdings narrative. Given the mix of optimism and concern around DHT Holdings, it makes sense to look at the underlying data quickly and form your own judgment. To weigh those positives against the potential downsides, start with the 3 key rewards and 3 important warning signs. If DHT Holdings has sharpened your appetite for opportunity, do not stop here. Broaden your watchlist now so you are not late to the next move. Strengthen your core portfolio by reviewing companies that combine healthy cash flows with robust finances through the solid balance sheet and fundamentals stocks screener (49 results). Hunt for quality at a sensible price by scanning opportunities that appear priced below their fundamentals using the 50 high quality undervalued stocks. Add potential growth engines early by checking the screener containing 19 high quality undiscovered gems before other investors catch on. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include DHT. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Track your investments for FREE with Simply Wall St, the portfolio command center trusted by over 7 million individual investors worldwide. DHT Holdings (NYSE:DHT) reports record Q2 2026 earnings, driven by heightened crude shipping demand linked to conflict in the Middle East. Management cites higher risk premiums on affected routes as a key factor behind the strongest quarterly net income in the company’s history. The company declares a substantial cash dividend and continues capital returns to shareholders. For readers looking to explore other ways geopolitical events can influence critical infrastructure and transport, the next place to go is 37 power grid technology and infrastructure stocks DHT Holdings operates in the crude tanker segment, which often reacts quickly to changes in trade routes and risk conditions. The stock trades at $17.87 and has been strong over longer periods, with a 70.5% return over the past year and a gain of 340.6% over five years. In the shorter term, the share price is more mixed, with a decline of 3.7% over the past week but a 4.2% gain over the past month. Is DHT Holdings's dividend sustainable? Check out what every dividend investor needs to know in our dividend analysis. DHT Holdings has paired its record Q2 2026 earnings with a cash dividend of $1.22 per share. That payout sits against basic earnings per share of $1.23 for the quarter and $2.25 for the first half of 2026. On current figures the dividend represents a very high payout of current earnings. For income focused investors this signals that management is comfortable returning a large share of profits rather than retaining them on the balance sheet. The $1.22 dividend marks the 66th consecutive quarterly payout, so it extends a long income track record. Management is also using cash for vessel acquisitions, debt prepayments and buybacks, which shows confidence in current cash generation. At the same time, external analysis flags that a yield of about 5.5% is not well covered by free cash flow and that earnings include a high level of non cash items. Readers should treat the current payout as generous but also test how it might behave in weaker freight markets. The next key marker is how Q3 2026 cash flow and booking trends line up with the current dividend run rate, especially given early comments about a slight cooling in VLCC bookings. Watch the Q2 2026 earnings call on 6 August 2026 for any guidance on payout policy, plus upcoming quarterly reports for free cash flow coverage of dividends and any change in capital returns between dividends, buybacks and fleet spending. For the full picture including more risks and rewards, check out the complete DHT Holdings analysis. Alternatively, you can check out the community page for DHT Holdings to see how other investors believe this latest news will impact the company's narrative. Stay updated on the most important news stories for DHT Holdings by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on DHT Holdings. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include DHT. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

This article first appeared on GuruFocus. Release Date: August 06, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. DHT Holdings Inc (NYSE:DHT) reported its strongest quarter in company history, with Q2 2026 net income of $198.3 million ($1.23 per share) and adjusted EBITDA of $231 million. The company secured two additional one-year time charter contracts for older vessels at an average rate of $109,000 per day, locking in high-margin fixed cash flow. DHT Holdings Inc (NYSE:DHT) finalized a new $250 million revolving credit facility, which was meaningfully oversubscribed, with favorable terms including a 7-year tenure and pricing at 135 basis points above SOFR. The company maintained a very strong balance sheet with total liquidity of $569 million and conservative leverage of 14.1% based on market values. DHT Holdings Inc (NYSE:DHT) continued its disciplined capital allocation by approving a quarterly dividend of $1.22 per share, marking its 66th consecutive quarterly cash dividend. The company successfully completed its 2026 newbuild program with the delivery of the DHT Impala, and secured a three-year time charter at $75,000 per day for the DHT Jaguar. DHT Holdings Inc (NYSE:DHT) achieved a record first-half 2026 net income of $362.9 million, exceeding its previous full-year record of $266.3 million set in 2020. DHT Holdings Inc (NYSE:DHT) avoided trading in the Persian Gulf due to high-risk conflict zones, potentially missing out on substantial risk premiums that other operators are extracting. The company faces ongoing geopolitical disruptions, particularly in the Red Sea and Strait of Hormuz, which complicate operational planning and vessel routing. Second-hand asset values are currently in territory that makes it challenging for DHT Holdings Inc (NYSE:DHT) to pursue fleet expansion through acquisitions, limiting growth opportunities. The company's fleet coverage for 2028 is below 20%, indicating significant exposure to spot market volatility in the longer term. DHT Holdings Inc (NYSE:DHT) has no immediate divestment plans for its five oldest vessels despite high asset values, as it seeks to maintain earning capacity without a clear replacement plan. The company's time charter coverage for Q3 2026 includes profit sharing only for July, with base rates only for August and September, potentially reducing earnings visibility. DHT Holdings Inc (NYSE:DHT) faces uncertainty regarding the resolution of regional conflicts, with no clear timeline for normalization of trade routes and potential market disruptions. Warning! GuruFocus has detected 2 Warning Signs with CELH. Is DHT fairly valued? Test your thesis with our free DCF calculator. Q: How is the situation in the Red Sea and the threat of Houthi hostilities affecting DHT's trading of VLCCs in the region, particularly regarding Yanbu loadings?A: (CEO Svein Moxnes Harfjeld) We previously did several Yanbu reloadings, both entering the Red Sea and exiting through the Bab el-Mandeb Strait, but that has become more challenging following Houthi threats. As a result, our ships now typically exit the Red Sea through the Suez Canal, which adds significant transportation distances. Most VLCC loadings, not just ours, have been directed northwestbound. Q: Are you seeing direct lifting from Yanbu with partial offloading ahead of the Suez Canal, or are you starting to load directly out of the Mediterranean as a new trade pattern?A: (CEO Svein Moxnes Harfjeld) It's both. We have ships loading at Yanbu that need to offload about half the cargo to transit the canal and then reload on the other end. There are also some ships shuttling between Yanbu and Ain Suknaone of our time charter contracts is involved in that business. Additionally, there have been fixtures with ships coming from the Atlantic Basin loading directly at Sidi Kerir in the Med and taking cargoes to Europe or the Far East. All of this creates disruption, reduces fleet efficiency, and makes the general market much tighter. Q: With the fleet now at 23 vessels going to 24, is DHT still aiming to expand its footprint beyond the 24 vessels spoken for, and how would you go about itsecondhand market or newbuilds?A: (CEO Svein Moxnes Harfjeld) It's our general ambition to continue building out DHT, but secondhand values are currently in a territory that makes it challenging to invest. Patience is key. There could be corporate opportunities in due course, which we will look atwe've done a couple historically in 2014 and 2017. Our eyes are on continuing to build out the company, but it has to be at valuations and financial conditions that ensure profitable growth, not just buying assets for the sake of it. Q: With talk of European minesweepers potentially entering the Strait of Hormuz, how long after an agreement do you think things could return to normal, and what would be the blue-sky opportunistic time for a return to normalcy?A: (CEO Svein Moxnes Harfjeld) The simple answer is I don't know. The news flow is volatile and fluid, making it hard to make decisions because statements can change between fixing a ship and when it enters the area. In general terms, we would like to see the prospective opening of the straits be crediblemeaning numerous safe transits without selective attacks on certain ships, nationalities, or cargoes. We will unlikely be the first mover into this operation, but we are keen for the market to return to normality. Q: Given the Oryx is delivering in 2028, what is the current turnaround time between placing a newbuild order and taking delivery of a VLCC?A: (CEO Svein Moxnes Harfjeld) It depends on which country and shipyard. We have been loyal to Hyundai and Hanwha Ocean in Korea, where opportunities are for 2030 delivery. There is a revival of an earlier closed shipyard in Korea offering earlier delivery, but they must demonstrate credibility. Top-end Chinese shipyards with the most experience are also 2030 delivery. Shipyards with no prior tanker experience but great experience in other vessel types can offer earlier deliveries. Today, if you're willing to venture into less experienced yards, that's probably a 2029 window, while established high-end yards in Korea and Japan are 2030. Q: Around 25% of the fleet rolls off contract in early 2027. Do any of those vessels have customer options that could see them extended longer?A: (CEO Svein Moxnes Harfjeld) There are limited options left in our time charter fleet. The five one-year contracts we did in the first half are only for one year with no optional periods. We have a couple of legacy charters with firm periods expiring end of next year that have some optional periods, but the three-year charter we just announced has no optional period. Our cover for next year is about one quarter of the fleet on fixed income, with the last profit-sharing charter redelivering in the first quarter. We're down to below 20% coverage for 2028, but this is an evolving portfolio with customers interested in developing more business. Q: Given the high asset values, is it tempting to sell the five oldest vessels (around 15 years old) without having replacement newbuilds in the pipeline?A: (CEO Svein Moxnes Harfjeld) We are focused on maintaining earning capacity with the fleet. Ideally, we would not dispose of those ships without a clear path for renewals and hopefully expansion as a net result. These values are very high now, but these five ships are in very good condition and can service the industry easily for the remaining five to six years, if not longer. It's not an easy path to execute. Ideally, we would like to have a replacement plan that can be a combination of things, but as of now, there are no divestment plans for those assets. Q: Regarding the recently announced three-year charter for the DHT Jaguar starting in September, is the forward charter market liquid enough to execute such deals with significant lead time?A: (CEO Svein Moxnes Harfjeld) You can create liquidity with pricingforward delivery typically comes at a discount to prompt delivery. The market may not be very active because most people wanting a one-year charter want a clear idea of the first cargo and profit potential. Today, a one-year charter for a modern ship is probably around $120,000-$125,000 per day. The forward delivery fixture was reported at $110,000, which is likely what was put on the table to entice that forward delivery. Q: Can you provide more details on the two new time charter contracts secured during the quarter for the older vessels, DHT Sundarbans and DHT Amazon?A: (CEO Svein Moxnes Harfjeld) Both the DHT Sundarbans (built 2012) and DHT Amazon (built 2011) entered into one-year contracts at an average rate of $109,000 per day. This reflects our strategy For the complete transcript of the earnings call, please refer to the full earnings call transcript.

HAMILTON, BERMUDA, August 5, 2026 – DHT Holdings, Inc. (NYSE:DHT) (“DHT” or the “Company”) today announced its results for the quarter ended June 30, 2026. The full report is available in the attachment below. About DHT Holdings, Inc.DHT is an independent crude oil tanker company. Our fleet trades internationally and consists of crude oil tankers in the VLCC segment. We operate through our wholly owned management companies in Monaco, Norway, Singapore, and India. You may recognize us by our renowned business approach as an experienced organization with focus on first rate operations and customer service; our quality ships; our prudent capital structure that promotes staying power through the business cycles; our fleet employment with a combination of market exposure and fixed income contracts; our disciplined capital allocation strategy through cash dividends, investment in vessels, debt prepayments and share buybacks; and our transparent corporate structure maintaining a high level of integrity and corporate governance. For further information please visit www.dhtankers.com. Forward Looking StatementsThis press release contains certain forward-looking statements and information relating to the Company that are based on beliefs of the Company’s management as well as assumptions, expectations, projections, intentions and beliefs about future events. When used in this document, words such as “believe,” “intend,” “anticipate,” “estimate,” “project,” “forecast,” “plan,” “potential,” “will,” “may,” “should” and “expect” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. These statements reflect the Company’s current views with respect to future events and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking statements. These forward-looking statements represent the Company’s estimates and assumptions only as of the date of this press release and are not intended to give any assurance as to future results. For a detailed discussion of the risk factors that might cause future results to differ, please refer to the Company’s Annual Report on Form 20-F, filed with the SEC on March 19, 2026. The Company undertakes no obligation to publicly update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur, and the Company’s actual results could differ materially from those anticipated in these forward-looking statements. Contact:Laila C. Halvorsen, CFOPhone: +1 441 295 1422 and +47 984 39 935 E-mail: [email protected] Attachment DHT Q2 2026 financial report

HAMILTON, BERMUDA, June 22, 2026 – DHT Holdings, Inc. (NYSE:DHT) (“DHT”) announces the results of its 2026 Annual Meeting of Shareholders (the “Annual Meeting”), held on Thursday, June 18, 2026. Shareholders holding an aggregate of 101,497,532 common shares of DHT were present or represented by proxy at the Annual Meeting, representing approximately 63.03% of the issued and outstanding common shares of DHT as of the close of business on April 23, 2026, the record date for the meeting. At the Annual Meeting, the shareholders voted (1) to elect Jeremy Kramer to DHT’s Board of Directors as a Class I director for a term of three years, and (2) to ratify the selection of Ernst & Young AS as DHT’s independent registered public accounting firm for the fiscal year ending December 31, 2026. The detailed voting results were as follows: 1)   Election of DirectorShareholders elected Jeremy Kramer to DHT’s Board of Directors as a Class I director for a term of three years. The votes cast were 70,975,622 in favor (representing 69.93% of the total votes cast), 26,847,647 withheld, and 3,674,263 broker non-votes. 2)   Ratification of Independent Registered Public Accounting FirmShareholders ratified the selection of Ernst & Young AS as DHT’s independent registered public accounting firm for the fiscal year ending December 31, 2026. The votes cast were 101,354,521 in favor (representing 99.86% of the total votes cast), 80,357 against, and 62,654 votes abstentions. About DHT Holdings, Inc.DHT is an independent crude oil tanker company. Our fleet trades internationally and consists of crude oil tankers in the VLCC segment. We operate through our integrated management companies in Monaco, Norway, Singapore, and India. You may recognize us by our renowned business approach as an experienced organization with focus on first rate operations and customer service; our quality ships; our prudent capital structure that promotes staying power through the business cycles; our fleet employment with a combination of market exposure and fixed income contracts; our disciplined capital allocation strategy through cash dividends, investments in vessels, debt prepayments and share buybacks; and our transparent corporate structure maintaining a high level of integrity and corporate governance. For further information please visit www.dhtankers.com. Contact:Laila C. Halvorsen, CFOPhone: +1 441 295 1422 and +47 984 39 935 E-mail: [email protected]

DHT Holdings posted first quarter results that surpassed Wall Street’s revenue and profit expectations, with growth underpinned by a combination of robust spot market performance and significant fleet renewal. Management attributed the quarter’s momentum to higher average daily rates achieved on both spot and time charter contracts, as well as the timely delivery of new vessels into a favorable freight market. CEO Svein Harfjeld explained, “Our planned increase of market exposure for the first half of this year had the objective not only to benefit from the spot market, but also to balance this with selective new term employment.” Is now the time to buy DHT? Find out in our full research report (it’s free). Revenue: $157.4 million vs analyst estimates of $151.7 million (97.4% year-on-year growth, 3.8% beat) Adjusted EPS: $0.64 vs analyst estimates of $0.62 (3.5% beat) Adjusted EBITDA: $133.3 million vs analyst estimates of $131.8 million (84.7% margin, 1.1% beat) Operating Margin: 107%, up from 61.3% in the same quarter last year Market Capitalization: $3.02 billion While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Jonathan Chappell (Evercore): Asked about undisclosed charter rates and DHT’s optimal balance between spot and time-charter exposure. CEO Svein Harfjeld explained contractual confidentiality and confirmed satisfaction with the current 50% time charter cover. Chappell (Evercore): Probed whether headline rate indices reflect DHT’s actual earnings capacity. Harfjeld detailed that certain widely reported market indices are not always directly attainable due to route-specific factors and operational constraints. Sherif Elmaghrabi (BTIG): Inquired about future fleet growth following the current renewal cycle. Harfjeld responded that while the balance sheet supports expansion, attractive acquisition opportunities are currently limited by a strong freight market. Elmaghrabi (BTIG): Sought insight into the company’s approach to re-entering high-risk regions post-conflict. Harfjeld emphasized a cautious stance, prioritizing credible, lasting conflict resolution before resuming operations in sensitive areas. Omar Nokta (Clarksons): Asked how risk premiums across various trade routes have evolved and DHT’s willingness to operate in alternative loading areas. Harfjeld explained normalization of rates outside the highest-risk zones and a focus on operational safety. In upcoming quarters, the StockStory team will be watching (1) the pace and success of DHT’s fleet renewal and integration of newbuild vessels, (2) developments in global oil trade patterns, especially regarding potential sanctions relief or normalization in regions like Iran and Venezuela, and (3) the company’s ability to maintain high spot and time charter rates amid shifting market dynamics. Additionally, we will monitor execution on disciplined capital allocation and further opportunities for fleet growth. DHT Holdings currently trades at $18.75, down from $19.10 just before the earnings. Is there an opportunity in the stock?Find out in our full research report (it’s free for active Edge members). WHILE YOU’RE HERE: Top 9 Market-Beating Stocks. The best stocks don't just beat the market once. They do it again. And again. Robust revenue growth, rising free cash flow, returns on capital that leave their competition in the dust. The market has already rewarded these businesses. But our AI platform says the party isn't over. Find out which 9 stocks made the cut this week - FREE. Get Our Top 9 Market-Beating Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,326% between June 2020 and June 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,754% five-year return). Find your next big winner with StockStory today.

Interested in DHT Holdings, Inc.? Here are five stocks we like better. DHT posted a strong Q1 2026 profit, with net income of $164.5 million and adjusted EBITDA of $133 million, helped by high VLCC spot rates and gains from vessel sales. Ordinary net income was $103.4 million, or $0.64 per share. The company declared a $0.64 per share dividend, paying out 100% of ordinary net income, marking its 65th straight quarterly cash dividend. DHT ended the quarter with $350 million of total liquidity and low leverage. Fleet renewal and charter coverage remain active, as DHT took delivery of three new Antelope-class vessels and secured additional long-term and one-year charters at elevated rates. For Q2, 88% of spot days are already booked at an average of $168,300 per day. 3 Overlooked Dividend Plays for Income in Volatile Times DHT (NYSE:DHT) reported a sharply profitable first quarter of 2026, aided by strong VLCC spot rates, gains from vessel sales and the first deliveries from its newbuilding program, while management said the company has positioned the fleet to balance elevated spot-market exposure with new term charters. Chief Financial Officer Laila Cecilie Halvorsen said DHT generated revenues on a time-charter-equivalent basis of $157 million in the quarter and adjusted EBITDA of $133 million. Net income was $164.5 million, or $1.02 per share. Excluding a $60 million gain on the sale of DHT Europe and DHT China and a $1.1 million non-cash fair value gain related to interest rate derivatives, ordinary net income was $103.4 million, or $0.64 per share. → Wells Fargo’s Comeback Is Real—But Not Risk-Free Vessels trading in the spot market earned an average of $91,700 per day during the quarter, while vessels on time charters earned $61,300 per day. The combined fleet average TCE was $78,800 per day. Halvorsen said DHT’s board approved a first-quarter cash dividend of $0.64 per share, in line with the company’s policy of paying out 100% of ordinary net income as quarterly cash dividends. She said the payment marks the company’s 65th consecutive quarterly cash dividend. The shares are scheduled to trade ex-dividend on May 21, with payment on May 28 to shareholders of record as of May 21. → Rocket Lab Posts Record Q1 Revenue, Raises Q2 Guidance DHT ended the quarter with total liquidity of $350 million, including $126 million of cash and $230 million available under two revolving credit facilities. Following a $56 million repayment in April under its Nordea revolving credit facility, current availability under the two facilities stands at $285.8 million. Halvorsen said financial leverage was 16.8% based on market values for the fleet at quarter-end, with net debt of $16.5 million per vessel. The company began the quarter with $79 million in cash. During the period, it generated $133 million in EBITDA, received $101 million from the sale of DHT Europe and DHT China, distributed $66 million to shareholders, invested $160 million in vessels under construction and issued $91.5 million in long-term debt. → The Great Crypto Thaw: Regulation Ignites an Infrastructure Boom President and CEO Svein Moxnes Harfjeld said DHT was “very pleased” with the timing of the first three deliveries in its four-vessel Antelope-class newbuilding program. DHT Antelope was delivered in January, while DHT Addax and DHT Gazelle were delivered in March. The fourth vessel, DHT Impala, is expected this summer. The newbuildings are part of a fleet renewal program tied to the planned divestment of the company’s three oldest ships, all built in 2007. Two have already been delivered to buyers. The remaining vessel, DHT Bauhinia, was sold during the quarter for $51.5 million and is expected to be delivered in June or July. DHT expects a capital gain of $34.2 million and cash proceeds of $51.5 million from that sale. Management also detailed several time-charter fixtures. The 2016-built DHT Harrier extended its contract for five years from Jan. 26 at $47,500 per day, with two optional years priced at $49,000 and $50,000 per day. DHT also secured one-year charters for DHT Opal at $90,000 per day, DHT Taiga at $94,000 per day and DHT Redwood at $105,000 per day. One newbuilding began a five- to seven-year time charter with what Harfjeld described as a key customer. After quarter-end, DHT secured two additional one-year charters for DHT Sundarbans and DHT Amazon at an average rate of $109,000 per day. Harfjeld said the company’s five older ships are now on one-year time-charter contracts averaging $101,000 per day. For the second quarter, Halvorsen said DHT expects 997 time-charter days covered at an average rate of $73,900 per day. That figure includes April profit sharing and base rates only for May and June for contracts that include profit-sharing structures. The company anticipates 1,025 spot days in the quarter, of which 88% have been booked at an average rate of $168,300 per day. Halvorsen said the spot profit-and-loss break-even for the quarter is estimated at less than zero because time-charter earnings are expected to exceed forecasted costs. DHT also provided estimated break-even levels for the final three quarters of 2026. The company’s P&L break-even is estimated at $29,700 per day, while cash break-even is estimated at $23,400 per day. Harfjeld said the VLCC market remains supported by supply-demand fundamentals, noting that freight markets strengthened in the second half of 2025 “without any special events taking place.” He also pointed to strategic fleet consolidation by a private aggregator during the first quarter as a factor that could positively influence the market. At the same time, Harfjeld said hostilities involving Iran have introduced risk premiums on certain routes and exposed the industry’s vulnerability to disruptions. He said DHT had no ships inside the Gulf when the conflict broke out, has none there currently and its fleet is fully operational. In response to analyst questions, Harfjeld said trading inside the Strait of Hormuz was “a non-starter” for DHT, citing the company’s responsibility to crew members aboard its vessels. He said activity in the Gulf would require a credible and durable resolution before the company and others could consider a return to normal operations. Harfjeld also said potential sanctions relief for Venezuelan and Iranian crude exports could shift cargoes from the shadow fleet to compliant operators, expanding the market for companies such as DHT. He said a move toward compliant trade could accelerate retirement of older non-compliant tonnage and potentially shrink the working fleet by 10% to 15% of capacity. DHT has seven vessels scheduled for dry docking in 2026. Halvorsen said DHT Lion completed its second special survey and dry dock in the first quarter on time and within expectations. DHT Osprey, DHT Panther, DHT Puma and DHT Harrier are scheduled for second special surveys and dry docks, while DHT Amazon and DHT Redwood are scheduled for third special surveys and dry docks. Halvorsen said the dry dock schedule is already incorporated into the company’s operating and capital expenditure outlook and does not alter management’s view of fleet availability or cash flow generation. Asked about fleet growth, Harfjeld said DHT is satisfied with its current fleet and has no planned additional divestments. He said the balance sheet could support growth, but opportunities have been difficult to find because potential sellers are retaining vessels in a strong freight market. DHT Holdings, Inc (NYSE: DHT) is a Bermuda-based independent crude oil tanker company that provides seaborne transportation of crude oil on a worldwide basis. The company's core business involves the ownership and operation of a modern fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are chartered to oil producers, trading houses and national oil companies. Through spot charters, time-charters and tanker pooling arrangements, DHT connects crude oil exporters with refining hubs in Asia, Europe, North America and other global markets. Founded in 2005 and listed on the New York Stock Exchange later that year, DHT has grown its presence in the maritime sector by focusing on operational efficiency and disciplined capital management. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "DHT Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for May 2026.