Research analysts who have asked questions during TORM earnings calls.
JC
Jonathan Chappell
Evercore ISI
4 questions for TRMD
Also covers: ASC, CHRW, CNI +20 more
CM
Clement Mollins
Value Investor's Edge
2 questions for TRMD
Omar Nokta
Jefferies
2 questions for TRMD
Also covers: AMKBY, ASC, CCEC +21 more
BN
Bendik Nyttingnes
Clarksons Securities AS
1 question for TRMD
Also covers: CLCO, ECO, GNK +1 more
JM
Jaeyoung McGarry
Jefferies Financial Group Inc.
1 question for TRMD
PH
Petter Haugen
ABG Sundal Collier
1 question for TRMD
Also covers: BWLP, CLCO, DHT +3 more
SM
Srude Morado
Clarksons Securities
1 question for TRMD
Recent press releases and 8-K filings for TRMD.
TORM plc Reports Oaktree Ownership Threshold Met and Board Change
TRMD
Board Change
M&A
- TORM plc announced that the threshold date, defined in its Articles as the point when Oaktree Capital Management, L.P. and its affiliates ceased to beneficially own at least one-third of the company's issued shares, occurred on January 6, 2026.
- As a result of Oaktree's ownership falling below this one-third threshold, the position and authority of the B-Director are extinguished, leading to David Weinstein's departure from the Board of Directors effective January 6, 2026; he will continue as a Special Advisor to the Board.
- The company's B- and C-shares are in the process of being redeemed and cancelled, and the C-share right to vote ceased as of the threshold date.
- Following the redemption and cancellation, TORM plc's share capital will be USD 1,013,327.07, divided into 101,332,707 A-shares of USD 0.01 each.
3 days ago
Hafnia Completes Acquisition of TORM Stake
TRMD
M&A
New Projects/Investments
- Hafnia Limited completed the acquisition of approximately 14.1 million A shares in TORM plc on December 22, 2025.
- This acquisition represents approximately 13.97% of TORM's issued share capital.
- The shares were acquired from Oaktree Capital Management, L.P. and its affiliates.
- Hafnia may explore a business combination transaction with TORM in the future.
- Further information regarding Hafnia's plans for its investment in TORM is available in a Schedule 13D filed with the SEC.
Dec 22, 2025, 9:35 PM
TORM: Hafnia Fulfils Conditions for 13.97% Share Acquisition
TRMD
M&A
New Projects/Investments
- Hafnia Limited has fulfilled all conditions precedent for its acquisition of approximately 14.1 million A-shares in TORM plc.
- Upon completion, Hafnia will hold approximately 13.97% of TORM's issued share capital, with completion expected shortly.
- The initial announcement for this acquisition was made on September 11, 2025.
Dec 18, 2025, 7:59 AM
TORM Reports Strong Q3 2025 Results and Declares Interim Dividend
TRMD
Earnings
Dividends
New Projects/Investments
- TORM plc reported its strongest quarterly results in 2025, achieving time charter equivalent earnings of $236.4 million and a net profit of $77.6 million for the third quarter.
- The company declared an interim dividend of $0.62 per share, representing 78% of its net profit.
- TORM expanded its fleet to 92 vessels through strategic sales of older vessels and acquisitions of newer ones.
- An Altman Z-Score of 2.6 indicates some financial stress, placing TORM in a grey area between financial health and vulnerability.
- Analyst sentiment remains cautious with a hold to sell rating and a price target of DKK 92.00.
Nov 6, 2025, 7:44 PM
TORM Announces Strong Q3 2025 Results and Raises Full-Year Guidance
TRMD
Earnings
Guidance Update
Dividends
- TORM delivered strong Q3 2025 results, reporting TCE of $236 million, a net profit of $78 million, and earnings per share of $0.79.
- The company declared a dividend of $0.62 per share for Q3 2025, representing a 78% payout ratio.
- For full year 2025, TORM increased the midpoint of its TCE guidance to $900 million, with a revised range of $875 million to $925 million, and narrowed its EBITDA guidance to $540 million-$590 million.
- TORM advanced its fleet optimization strategy by acquiring five 2014-built MR vessels and one 2010-built LR2, while divesting a 2007-built MR. Additionally, a three-year time charter for the 2009-built MR vessel Tom Lily was agreed at $22,234 per day.
- Market sentiment remains broadly positive, supported by stable product tanker rates, consistent demand, and limited growth in the CPP trading fleet, despite ongoing geopolitical tensions. Structural changes in the global refinery landscape are expected to continue supporting ton-mile growth.
Nov 6, 2025, 3:00 PM
Hafnia Acquires Stake in TORM from Oaktree
TRMD
M&A
New Projects/Investments
- Hafnia Limited has entered into a binding share purchase agreement to acquire approximately 14.45% of TORM's issued share capital from Oaktree Capital Management, L.P..
- The acquisition involves approximately 14.1 million A shares in TORM plc, priced at US$22 per share, for a total purchase price of US$311,433,342.
- Completion of the acquisition is subject to customary conditions, including obtaining required regulatory clearances and the appointment of a new independent board chair of TORM.
- Hafnia intends to explore strategic opportunities, including a potential business combination on a net asset value basis (NAV-for-NAV), with TORM, although discussions have not yet taken place and there is no assurance that this will lead to any transaction.
- TORM announced on September 9, 2025, that the UK City Code on Takeovers and Mergers does not apply to TORM.
Sep 11, 2025, 12:19 PM
TORM: Hafnia to Acquire 14.45% Stake from Oaktree
TRMD
M&A
New Projects/Investments
Board Change
- Hafnia Limited has entered into a preliminary agreement to acquire approximately 14.45% of TORM's issued share capital from Oaktree Capital Management, L.P.
- The acquisition involves 14.1 million A shares of TORM, priced at US$22 per share, for a total purchase price of US$311,433,342.
- Completion of the Share Purchase is subject to a definitive agreement, obtaining required regulatory clearances, and the appointment of a new independent board chair for TORM.
- Hafnia views this as a sizeable investment in a well-managed company and believes that consolidation is generally positive for the tanker industry.
Sep 3, 2025, 1:39 PM
Quarterly earnings call transcripts for TORM.
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