Stock Track | Torm PLC Soars 5.59% in Pre-Market on Strong 2024 Results and Dividend Payout

Stock Track03-06

Torm PLC's stock surged 5.59% in pre-market trading on Thursday, following the release of the company's annual report for 2024 and financial outlook for 2025.

The Danish product tanker company reported a strong performance in 2024, with time charter equivalent (TCE) earnings of $1.13 billion and an EBITDA of $851 million. Torm's net profit for the year stood at $612 million, driven by increased ton-mile demand and a favorable supply-demand balance in the product tanker market.

However, Torm cautioned that the market dynamics had shifted in the latter part of 2024, signaling potential challenges ahead. As a result, the company expects lower TCE earnings of $650-950 million and EBITDA of $350-650 million in 2025, reflecting the unpredictable geopolitical changes and their impact on the industry.

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