TORM plc (NASDAQ: TRMD) has revised its full-year 2026 financial guidance upwards, citing strong market conditions and improved earnings visibility.
The company now forecasts its Time Charter Equivalent (TCE) earnings to range between USD 1,700 million and USD 1,900 million, and its EBITDA to be between USD 1,300 million and USD 1,500 million for the year.
This is an increase from the previous guidance of TCE earnings between USD 1,400 million and USD 1,600 million, and EBITDA between USD 1,000 million and USD 1,200 million.
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The upgrade is attributed to TORM's robust forward freight coverage and the favorable state of the product tanker market.
TORM is scheduled to release its third quarter 2026 financial results on November 4, 2026, which will include updates on market trends, commercial performance, and earnings for the period.
acob Meldgaard, CEO of TORM, commented, "Exceptional market strength and strong execution have led us to raise our full-year guidance to new record levels. Our scale and agility support our track record of market-leading performance."