Hunter Group (HUNT) Q3 2025 earnings summary

Executive summary

• Q3 2025 was marginally profitable, with net profit of USD 1.6m and 100% vessel utilization at index-linked TC rates averaging USD 52,765 per day.

• 62% of Q4 vessel days are already booked at significantly higher rates of USD 105,073 per day, with spot market rates currently at USD 150,407 per day.

• The company is focused on maximizing shareholder value through capital returns, supported by strong cash flow in a robust tanker market.

Financial highlights

• Net TC result for Q3 2025 was USD 0.2m, with an unrealized non-cash TC position result of USD 1.9m.

• Total operating expenses for the quarter were USD 0.4m, and cash and working capital stood at USD 7.9m.

• Net profit for Q3 2025 was USD 1.6m, reversing a net loss of USD 5.8m in Q3 2024.

• Earnings per share for Q3 2025 were USD 0.01, compared to a loss per share of USD -0.04 in Q3 2024.

Outlook and guidance

• Spot rates have rebounded since July, with November averaging USD 125,753 per day and the latest fixtures at USD 150,407 per day.

• Monthly free cash flow at current spot rates is estimated at USD 6.1m, or NOK 0.46 per share.

• The company anticipates continued strong market fundamentals, with oil production surpluses and negative fleet growth supporting high rates.