Hunter Group (HUNT) Q1 2026 earnings summary

Executive summary

• Achieved the strongest quarter on record in Q1 2026, with net profit of USD 53.0m and operating cash flow of USD 11.4m.

• TD3C rates remained at high levels into Q2 2026, supporting continued strong cash generation.

• 62% of Q2 2026 vessel days booked at an average of USD 466,266 per day.

• Board proposes a dividend of NOK 1.25 per share, subject to EGM approval.

Financial highlights

• Net TC result for Q1 2026 was USD 32.6m; unrealized non-cash TC position result was USD 29.9m.

• Total operating expenses were USD (0.9)m; net profit reached USD 53.0m.

• Cash and working capital stood at USD 39.8m as of March 31, 2026.

• 100% utilization, operating all available days in Q1 2026.

Outlook and guidance

• TD3C spot rates remain strong, with current spot rates around USD 418,676 per day.

• Forward market and 1-year TC rates are firm, indicating a strong underlying market.

• FFA pricing for June/Q3 2026 at USD 351,430–235,382 per day.

• Strong VLCC market expected even after ME conflict resolution; normalization may take 2–4 months.