Torm (TRMD) has released an update.
TORM plc has reported a robust performance in Q2 2024, with a substantial increase in earnings and dividends compared to the previous year, highlighting strong market conditions and fleet growth. The company saw its time charter equivalent earnings rise to $325.9m, with an adjusted net profit of $194.2m, and plans to continue rewarding shareholders while expanding its fleet amid favorable market dynamics. The positive financial results are attributed to firm product tanker markets, manageable fleet growth, and higher average daily TCE rates.
For further insights into TRMD stock, check out TipRanks’ Stock Analysis page.
