)
Nordic American Tankers (NAT) investor relations material
Nordic American Tankers Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved best quarterly result of 2025 in Q4, with net income of $11.7 million and adjusted EBITDA of $34.7 million, reversing a Q3 net loss.
Declared a $0.17 per share dividend for Q4 2025, marking the 114th consecutive quarterly dividend.
Entered a 1-year fixed contract with an oil major at over $50,000 per day and booked nearly two-thirds of Q1 2026 spot days at about $55,000 per day.
Fleet consists of 20 Suezmax tankers, with two newbuilds ordered for 2028 and several older vessels sold in late 2025 and early 2026.
Financial highlights
Q4 2025 net voyage revenue was $58.8 million, up from $45.7 million in Q3 2025.
Q4 2025 net income was $11.7 million, compared to a net loss of $2.8 million in Q3 2025.
Q4 2025 adjusted EBITDA reached $34.7 million, up from $21.4 million in Q3 2025.
Average TCE for Q4 2025 was $35,000 per day per vessel, up 25% sequentially.
Cash position exceeded $100 million at the report date.
Outlook and guidance
Long-term fleet outlook is positive due to scarcity of compliant ships and increased pressure on the shadow fleet.
Bookings for Q1 and Q2 2026 are strong, with spot rates around $55,000 per day.
Anticipates continued strong tanker markets, supported by high oil demand and limited new vessel deliveries relative to aging fleet.
Next Nordic American Tankers earnings date
Next Nordic American Tankers earnings date
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
)
)
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage