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Odfjell (ODF) investor relations material

Odfjell Q1 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q1 2026 earnings summary7 May, 2026

Executive summary

  • Net result for 1Q26 was USD 32 million, down from USD 38 million in 4Q25; adjusted net result was USD 26 million, reflecting a USD 4.8 million capital gain from asset sales.

  • Time charter earnings were USD 167 million, slightly down from USD 168 million in 4Q25, with per day earnings at USD 27,232.

  • Safety performance remained strong despite increased geopolitical risks, with all crew safe on vessels in the Strait of Hormuz.

  • Operational review highlighted a decline in contract volumes due to Middle East disruptions, offset by record spot volumes.

  • CEO expects underlying net result in 2Q26 to be higher than in 1Q26.

Financial highlights

  • EBIT was USD 46 million, down from USD 53 million in 4Q25.

  • EBITDA was USD 81 million, down from USD 89 million in 4Q25.

  • Operating expenses increased to USD 53.4 million, up from USD 50.2 million, due to technical one-offs and fleet expansion.

  • Free cash flow was USD 28 million, down from USD 68 million in 4Q25.

  • EPS was USD 0.41, down from USD 0.48 in 4Q25.

Outlook and guidance

  • Underlying net result in 2Q26 is expected to be higher than in 1Q26.

  • April and May performance anticipated to be better than Q1 average, with June in line with May; overall Q2 results expected to be higher barring unforeseen events.

  • Terminal performance expected to remain stable, but geopolitical risks may impact activity and financials.

  • Anticipate a decline in seaborne chemical exports in Q2 due to product availability and cost.

  • Projected cash break-even to average USD 22,200 per day through 2026.

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Q2 202621 Aug, 2026
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