Torm Raises Full-Year Profit Forecast, Shares Rise
Shipping company Torm (TRMD:NASDAQ) increased its full-year profit forecast for fiscal year 2026 and saw a pre-market rise of 4.3%. The updated guidance now anticipates EBITDA between $1.3 billion to $1.5 billion, up from the previous range of $1 billion to $1.29 billion. Additionally, Torm raised its time-charter equivalent (TCE) income forecast to $1.7 billion to $1.9 billion, compared to earlier projections of $1.4 billion to $1.6 billion. The revised guidance reflects improved market conditions and stronger demand for oil product tankers. The company cited favorable charter rates as a key factor in the upward revision. Investors responded positively with shares rising ahead of Monday's open, signaling confidence in Torm’s updated outlook.
Tickers: $TRMD
Topics: ebitda_guidance shipping tce_income