TORM Second Quarter 2024 Earnings: Revenues Beat Expectations, EPS In Line

TORM (CPH:TRMD A) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$437.7m (up 14% from 2Q 2023).
• Net income: US$194.5m (up 4.7% from 2Q 2023).
• Profit margin: 44% (down from 48% in 2Q 2023). The decrease in margin was driven by higher expenses.
• EPS: US$2.08.

All figures shown in the chart above are for the trailing 12 month (TTM) period

TORM Revenues Beat Expectations

Revenue exceeded analyst estimates by 29%. Earnings per share (EPS) was mostly in line with analyst estimates.

Looking ahead, revenue is expected to fall by 19% p.a. on average during the next 3 years compared to a 1.0% decline forecast for the Oil and Gas industry in Europe.

Performance of the market in Denmark.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

We should say that we've discovered 3 warning signs for TORM (1 makes us a bit uncomfortable!) that you should be aware of before investing here.

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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.