TORM plc

TORM plc has delivered strong 9M results, with EBITDA more than doubling and net profit up over 200%, driven by surging TCE rates. Current TRMD stock valuation reflects peak freight rates and geopolitical disruption; normalization could sharply reduce NAV, earnings, and share price. TORM's competitive position is industry-average, with no meaningful edge over peers; supply constraints, not demand, are driving current outperformance.

TORM plc ( TRMD ) Q3 2026 Earnings Call November 4, 2026 9:00 AM EST Company Participants Jacob Meldgaard - CEO & Executive Director Kim Balle - Chief Financial Officer Conference Call Participants Jonathan Chappell - Evercore ISI Institutional Equities, Research Division Frode Morkedal - Clarksons Platou Securities AS, Research Division Climent Molins - Value Investor's Edge Presentation Operator Thank you for standing by. My name is Janine, and I will be your conference operator for today.

Torm NASDAQ: TRMD reported higher third-quarter earnings as strong product tanker markets lifted freight rates across its fleet, while the company expanded its newbuilding pipeline and raised the low end of its full-year guidance.

HELLERUP, Denmark, Nov. 4, 2026 /PRNewswire/ -- "Favorable market conditions, healthy transportation demand, and strong execution contributed to a strong third quarter," said Jacob Meldgaard, CEO of TORM, adding, "We remain confident in the long-term outlook for the product tanker market and are investing selectively in additional newbuildings to renew and grow our fleet, while building on our track record of market-leading performance." Financial Results In the third quarter of 2026, TORM (NASDAQ: TRMD) or (NASDAQ: TRMD A) generated time charter equivalent earnings (TCE) of USD 353m (2025, same period: USD 236m).