Nordic American Tankers
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Nordic American Tankers (NAT) investor relations material

Nordic American Tankers Q2 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2026 earnings summary27 Aug, 2026

Executive summary

  • Three vessels successfully exited the Hormuz Strait after being trapped due to hostilities, with one sold for $26 million, resolving a significant operational risk.

  • The fleet operates in a robust market, with spot rates between $60,000 and $90,000 per day and major oil companies as primary customers.

  • Q2 2026 net profit reached $68.3 million, up from $46.3 million in Q1 2026, and a significant turnaround from a net loss in Q2 2025.

  • Cash position stands at $175 million, supporting ongoing operations and dividends.

Financial highlights

  • Q2 2026 net profit: $68.3 million (EPS $0.32), including a $21.3 million gain on vessel sale and insurance recoveries.

  • Adjusted EBITDA for Q2 2026: $67.6 million, up from $54 million in Q1 2026 and $15.8 million in Q2 2025.

  • Time Charter Equivalent (TCE) for Q2 2026: $63,000/day/vessel, up from $47,600 in Q1 2026.

  • Q2 2026 dividend: $0.27/share, up from $0.22 in Q1 2026, marking the 116th consecutive quarterly dividend.

  • Net voyage revenue for Q2 2026: $79.3 million.

Outlook and guidance

  • 2026 is projected to be the best year since the company’s 1995 listing, with strong prospects for continued high earnings.

  • About 75% of the fleet is booked for Q3 2026 at approximately $54,000/day/vessel, indicating sustained demand.

  • Geopolitical uncertainty is expected to persist, but demand for oil transport remains robust.

  • Anticipated continued strength in tanker markets, with short-term spot rate volatility.

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Frequently asked questions

Nordic American Tankers Limited is a Bermuda-incorporated company specializing in the acquisition and chartering of double-hull tankers for the transportation of crude oil. The company operates a fleet of Suezmax crude oil tankers, which are deployed internationally. These double-hull Suezmax tankers are designed for high-volume oil transport and are suitable for long-haul trade routes, and are designed to transport oil through the Suez canal. The company is headquartered in Hamilton, Bermuda, and its shares are listed on the New York Stock Exchange (NYSE).