Nordic American Tankers Q1 2024 Earnings Report

Nordic American Tankers EPS Results

• Actual EPS: $0.07
• Consensus EPS: $0.11
• Beat/Miss: Missed by -$0.04
• One Year Ago EPS: N/A

Nordic American Tankers Revenue Results

• Actual Revenue: $60.57 million
• Expected Revenue: $66.19 million
• Beat/Miss: Missed by -$5.62 million
• YoY Revenue Growth: N/A

Nordic American Tankers Announcement Details

• Quarter: Q1 2024
• Date: 5/29/2024
• Time: N/A
• Conference Call Date: Wednesday, May 29, 2024
• Conference Call Time: 9:30AM ET

Nordic American Tankers (NYSE:NAT) is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners. Its vessels typically trade in the Atlantic Basin, Mediterranean and Black Sea regions, while also serving long‐haul routes to Asian and North American ports. The company’s external management model allows it to leverage maritime expertise without maintaining an in-house crew, keeping overhead costs aligned with industry best practices.

Governance is overseen by a board of directors chaired by Gardar S. Tangen, with executive management based in offices across Europe. Through disciplined capital allocation and a conservative balance sheet approach, Nordic American Tankers has pursued a dividend policy that reflects its operational cash flow. The company’s focus on modern Suezmax tonnage and flexible charter arrangements positions it to respond to evolving demand patterns in the global crude oil transportation market.