Q: Hi 5i,
I've owned DHT.UN in the past and did quite well - all before that little management fiasco. I sense the company may have completed a turnaround and be coming out of the penalty box now. I'm considering (re)adding it to my TFSA.
To help with the decision I'd appreciate your analysis of the quarter and year end results that were just released, along with any other comment you might have.
Thanks 5i,
Peter
I've owned DHT.UN in the past and did quite well - all before that little management fiasco. I sense the company may have completed a turnaround and be coming out of the penalty box now. I'm considering (re)adding it to my TFSA.
To help with the decision I'd appreciate your analysis of the quarter and year end results that were just released, along with any other comment you might have.
Thanks 5i,
Peter
5i Research Answer:
Revenue of $62M beat estimates of $42.5M by a wide margin. Adjusted EPS of 76c beat estimates of 45c. CIBC raised its target price, National lowered it. Cash flow rose 45%. Net earnings did decrease year over year but this was largely expected. EBITDA margin fell to 83% from 90%. The company raised the distribution by 18% in a good show of confidence. The units are up 4% YTD. It was a nice 'beat'. Very good growth is expected in 2025 in a recovery year. We are more comfortable here, certainly, than about six months ago.