EL7.AI
StocksMedium•28 October 2026•
2 min read

NORDEN Raises 2026 Profit Guidance to $180–230 Million Ahead of Third-Quarter Results

Key Facts

1NORDEN’s 2026 net profit guidance is $180–230 million, up from a previous range of $140–190 million.
2The third-quarter and first-nine-months 2026 report is scheduled for release on October 29, 2026.
3The company kept expected gains from signed vessel-sale deals at $79 million for 2026.
4Group net profit was $100.8 million in the second quarter of 2026, compared with $52 million in the second quarter of 2025.

NORDEN had not announced its third-quarter 2026 results as of October 28; its interim report was scheduled for the following day. The company’s latest official guidance for net profit for the year remained $180–230 million. NORDEN had raised this range on October 6 from $140–190 million. That places the guidance revision before the release of third-quarter results, rather than as a result of them.

NORDEN said the higher guidance was supported by stronger rates, particularly in the tanker segment, alongside disciplined execution. The CEO said the new guidance was based not only on rates, but also on how the company executed its operations. The company did not specify how much each factor contributed individually in this guidance. It also kept expected gains from vessel sales at $79 million for 2026, arising from deals already signed. That figure remains part of the company’s estimates for the year announced in October.

The company said a large share of expected earnings for the remainder of the year was likely to be generated late in the year. This means the annual outlook depends on when earnings are realized over the remaining months, as well as on rate levels and execution. In its second-quarter results, group net profit was $100.8 million, compared with $52 million in the second quarter of 2025. NORDEN attributed the improvement in dry cargo activity at the time to resilient operational performance and successful fleet repositioning. The tanker segment benefited, according to the company, from strong spot rates linked to the Gulf conflict and disruption to global oil flows.

At the end of the second quarter, net asset value was DKK 466 per share, up 23% since the start of 2026. The company announced a $34 million distribution for the quarter, comprising a cash dividend of DKK 2 per share and a new $25 million share buyback program. In its second-quarter guidance, NORDEN expected tanker market volatility to continue because of geopolitical uncertainty and trade disruption. It said the benefits of investments in fleet repositioning in dry cargo had begun to emerge in the second quarter, with gradual improvement expected to continue over the following quarters. The interim report for the third quarter and first nine months was scheduled for release on October 29, with management due to hold an online meeting the same day at 10:30 a.m. Central European Time.