Hafnia (NYSE:HAFN) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Hafnia (NYSE:HAFN) issued its quarterly earnings data on Wednesday. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.06, FiscalAI reports. The business had revenue of $688.87 million during the quarter, compared to analysts’ expectations of $298.65 million. Hafnia had a return on equity of 14.71% and a net margin of 35.54%.

Here are the key takeaways from Hafnia’s conference call:

• Hafnia reported a record Q1 net profit of $179.7 million and said Q2 is already tracking stronger, with management expressing confidence that the tanker market could stay firm through the year.
• Management said geopolitical disruption in the Middle East is boosting ton-miles as refined products travel longer routes, supporting tanker demand and helping tighten the market.
• The company emphasized that inventory drawdowns and disrupted Middle East production could take two to three quarters to normalize even if the Strait of Hormuz reopens, potentially extending market support.
• Hafnia said it has already covered more than 70% of Q2 at about $46,000 per day and close to 40% of the rest of the year, reducing earnings uncertainty and pointing to a strong full-year setup.
• The company reiterated its capital return framework, noting its 80% dividend payout policy at current leverage and saying any future share buybacks would be in addition to dividends rather than a replacement.

Hafnia Stock Performance

NYSE HAFN opened at $8.34 on Wednesday. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 12.26 and a beta of 0.86. Hafnia has a twelve month low of $4.90 and a twelve month high of $9.53. The company has a current ratio of 1.48, a quick ratio of 1.35 and a debt-to-equity ratio of 0.39. The stock has a 50-day moving average of $8.20 and a 200 day moving average of $6.91.

Hafnia Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, March 6th were issued a $0.1762 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 8.5%. The ex-dividend date of this dividend was Friday, March 6th. This is a positive change from Hafnia’s previous quarterly dividend of $0.15. Hafnia’s payout ratio is currently 102.94%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Hafnia in a report on Wednesday, May 6th. Dnb Carnegie cut Hafnia from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 12th. Finally, Wall Street Zen raised Hafnia from a “hold” rating to a “buy” rating in a report on Saturday, April 25th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Hafnia has an average rating of “Moderate Buy”.

Insider Transactions at Hafnia

In related news, CFO Echtelt Petrus Wouter Van sold 90,000 shares of the company’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $8.22, for a total value of $739,800.00. Following the completion of the transaction, the chief financial officer owned 91,994 shares of the company’s stock, valued at approximately $756,190.68. This represents a 49.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mikael Opstun Skov sold 500,000 shares of the company’s stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $8.11, for a total value of $4,055,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,130,978 shares of the company’s stock, valued at $9,172,231.58. The trade was a 30.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,090,000 shares of company stock valued at $8,854,800 in the last ninety days.

Hedge Funds Weigh In On Hafnia

A number of large investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership raised its holdings in Hafnia by 0.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 10,742,756 shares of the company’s stock worth $64,522,000 after purchasing an additional 54,905 shares during the period. Goldman Sachs Group Inc. raised its holdings in Hafnia by 17.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,870,521 shares of the company’s stock worth $20,630,000 after purchasing an additional 571,909 shares during the period. Jane Street Group LLC raised its holdings in Hafnia by 241.6% in the 1st quarter. Jane Street Group LLC now owns 815,341 shares of the company’s stock worth $3,392,000 after purchasing an additional 576,629 shares during the period. Legal & General Group Plc raised its holdings in Hafnia by 10.7% in the 3rd quarter. Legal & General Group Plc now owns 809,915 shares of the company’s stock worth $4,879,000 after purchasing an additional 78,264 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in Hafnia by 9.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 677,261 shares of the company’s stock worth $3,403,000 after purchasing an additional 60,210 shares during the period.

About Hafnia

Hafnia is a global shipping company listed on the New York Stock Exchange under the ticker HAFN. The firm specializes in the marine transportation of refined petroleum products, providing safe and reliable shipping solutions across key global trade lanes. Its core operations focus on the carriage of gasoline, diesel, jet fuel and other clean petroleum products, catering to the needs of oil majors, trading houses and independent refiners.

The company operates a modern fleet of double-hulled product tankers, managed to comply with stringent safety and environmental standards.