CMB.TECH (NYSE:CMBT) Issues Quarterly Earnings Results, Beats Expectations By $1.00 EPS

CMB.TECH (NYSE:CMBT) issued its earnings results on Tuesday. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $1.00, FiscalAI reports. The company had revenue of $519.63 million for the quarter, compared to the consensus estimate of $422.43 million. CMB.TECH had a return on equity of 18.90% and a net margin of 24.94%.

Here are the key takeaways from CMB.TECH’s conference call:

• Q1 net profit reached $368.8 million, helped by higher revenue, lower finance costs, and continued deleveraging. Net finance expenses fell to $81 million from $113 million last quarter, while liquidity ended above $500 million.
• The board approved a $0.64 per share distribution, structured to include $0.44 from share premium and $0.20 as an interim dividend. Management said this structure reduces withholding tax for many shareholders and reflects a continued focus on shareholder returns.
• The company said it has reduced leverage and funded much of its remaining capex, with only $184 million of the $1.2 billion remaining capex unfunded. Management also highlighted a stronger contract backlog and said 2026 is the last heavy newbuild delivery year.
• Dry bulk and tanker markets remain strong, with very healthy spot coverage for Q2 already fixed at higher rates across Newcastlemax, Capesize, Panamax, VLCC and Suezmax fleets. Management said disruption in the Middle East and rising coal demand could further support ton-mile growth and freight rates.
• The company said container and chemical markets remain cautious, while offshore energy is improving, with Windcat’s CSOVs and CTVs achieving solid utilization and rates. Management also said some vessels remain in the Persian Gulf, but did not disclose details for safety reasons.

CMB.TECH Stock Performance

NYSE CMBT opened at $17.25 on Thursday. The stock has a market capitalization of $3.31 billion, a PE ratio of 10.21 and a beta of 0.06. The business has a 50 day simple moving average of $13.40 and a two-hundred day simple moving average of $12.00. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.86 and a quick ratio of 0.79. CMB.TECH has a 1-year low of $7.78 and a 1-year high of $17.40.

CMB.TECH Dividend Announcement

The company also recently declared a special dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 15th were issued a dividend of $0.16 per share. The ex-dividend date was Wednesday, April 15th. CMB.TECH’s dividend payout ratio (DPR) is currently 27.69%.

Hedge Funds Weigh In On CMB.TECH

Institutional investors have recently added to or reduced their stakes in the company. Walleye Trading LLC purchased a new position in CMB.TECH during the 4th quarter valued at approximately $118,000. SIH Partners LLLP purchased a new position in shares of CMB.TECH in the 3rd quarter worth approximately $117,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of CMB.TECH in the 3rd quarter worth approximately $112,000. Creative Planning purchased a new position in shares of CMB.TECH in the 3rd quarter worth approximately $153,000. Finally, Vise Technologies Inc. purchased a new position in shares of CMB.TECH in the 3rd quarter worth approximately $94,000.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CMBT shares. Berenberg Bank raised CMB.TECH to a “strong-buy” rating in a research note on Wednesday, April 22nd. Wall Street Zen raised CMB.TECH from a “sell” rating to a “hold” rating in a research note on Sunday, April 12th. Finally, Weiss Ratings downgraded CMB.TECH from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

About CMB.TECH

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil worldwide. The company offers floating, storage, and offloading (FSO) services. It also owns and operates a fleet of vessels. The company was incorporated in 2003 and is headquartered in Antwerp, Belgium. As of March 15, 2024, Euronav NV operates as subsidiary of CMB NV.