TORM plc (TRMD) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 395.84M | 354.98M | 343.11M | 315.2M | 329.1M | 305.4M | 372.1M | 437.7M | 444.1M | 387.79M | 358.1M | 384.3M | 390.2M | 447.35M | 448.1M | 338.5M | 209.4M | 189.13M | 155.5M | 150.8M |
| Revenue Growth % | 20.28% | 16.24% | -7.79% | -27.99% | -25.9% | -21.25% | 3.91% | 13.9% | 13.81% | -13.31% | -20.08% | 13.53% | 86.34% | 136.53% | 188.17% | 124.47% | 68.73% | 79.86% | -3.24% | -33.8% |
| Cost of Goods Sold | 238.09M | 220.18M | 218.72M | 157.1M | 163.7M | 142.6M | 155.4M | 157.2M | 155.4M | 159.72M | 151.6M | 111.1M | 157.1M | 149.69M | 164.2M | 163.4M | 121.2M | 117.09M | 98M | 78.8M |
| COGS % of Revenue | 60.15% | 62.02% | 63.75% | 49.84% | 49.74% | 46.69% | 41.76% | 35.91% | 34.99% | 41.19% | 42.33% | 28.91% | 40.26% | 33.46% | 36.64% | 48.27% | 57.88% | 61.91% | 63.02% | 52.25% |
| Gross Profit | 157.74M | 134.8M | 124.38M | 158.1M | 165.4M | 162.8M | 216.7M | 280.5M | 288.7M | 228.07M | 206.5M | 273.2M | 233.1M | 297.66M | 283.9M | 175.1M | 88.2M | 72.04M | 57.5M | 72M |
| Gross Margin % | 39.85% | 37.97% | 36.25% | 50.16% | 50.26% | 53.31% | 58.24% | 64.09% | 65.01% | 58.81% | 57.67% | 71.09% | 59.74% | 66.54% | 63.36% | 51.73% | 42.12% | 38.09% | 36.98% | 47.75% |
| Gross Profit Growth % | -4.63% | -17.2% | -42.6% | -43.64% | -42.71% | -28.62% | 4.94% | 2.67% | 23.85% | -23.38% | -27.26% | 56.03% | 164.29% | 313.16% | 393.74% | 143.19% | 90.91% | 54.9% | -28.48% | -49.93% |
| Operating Expenses | 22.65M | 36.65M | 26.94M | 83.5M | 83.1M | 73.3M | 74.4M | 76.2M | 66M | 32.77M | 66.5M | 73.4M | 69.6M | 66.14M | 55.3M | 56.4M | 65.6M | 67.75M | 61.2M | 59.6M |
| OpEx % of Revenue | 5.72% | 10.32% | 7.85% | 26.49% | 25.25% | 24% | 19.99% | 17.41% | 14.86% | 8.45% | 18.57% | 19.1% | 17.84% | 14.79% | 12.34% | 16.66% | 31.33% | 35.82% | 39.36% | 39.52% |
| Selling, General & Admin | 22.65M | 36.65M | 26.94M | 24.5M | 25.9M | 23M | 22.6M | 23.8M | 26.2M | 24.43M | 19M | 21.9M | 17.6M | 15.71M | 13.4M | 12.5M | 13.4M | 12.44M | 12.3M | 13.2M |
| SG&A % of Revenue | 5.72% | 10.32% | 7.85% | 7.77% | 7.87% | 7.53% | 6.07% | 5.44% | 5.9% | 6.3% | 5.31% | 5.7% | 4.51% | 3.51% | 2.99% | 3.69% | 6.4% | 6.58% | 7.91% | 8.75% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Operating Income | 135.1M | 98.16M | 97.44M | 74.6M | 82.3M | 89.5M | 142.3M | 204.3M | 222.7M | 195.3M | 140M | 199.8M | 163.5M | 231.52M | 228.6M | 118.7M | 22.6M | 4.3M | -3.7M | 12.4M |
| Operating Margin % | 34.13% | 27.65% | 28.4% | 23.67% | 25.01% | 29.31% | 38.24% | 46.68% | 50.15% | 50.36% | 39.1% | 51.99% | 41.9% | 51.75% | 51.02% | 35.07% | 10.79% | 2.27% | -2.38% | 8.22% |
| Operating Income Growth % | 64.15% | 9.67% | -31.52% | -63.49% | -63.04% | -54.17% | 1.64% | 2.25% | 36.21% | -15.64% | -38.76% | 68.32% | 623.45% | 5289.18% | 6278.38% | 857.26% | 294.83% | 114.97% | -129.84% | -85.43% |
| EBITDA | 193.88M | 154.54M | 150.62M | 126.7M | 135.6M | 142.2M | 191.7M | 251.1M | 265.8M | 234.31M | 178.2M | 236.9M | 198.5M | 267.04M | 262.4M | 153.2M | 57.8M | 39.05M | 30.4M | 43.9M |
| EBITDA Margin % | 48.98% | 43.53% | 43.9% | 40.2% | 41.2% | 46.56% | 51.52% | 57.37% | 59.85% | 60.42% | 49.76% | 61.64% | 50.87% | 59.69% | 58.56% | 45.26% | 27.6% | 20.65% | 19.55% | 29.11% |
| EBITDA Growth % | 42.98% | 8.68% | -21.43% | -49.54% | -48.98% | -39.31% | 7.58% | 5.99% | 33.9% | -12.26% | -32.09% | 54.63% | 243.43% | 583.9% | 763.16% | 248.97% | 205.82% | 2158.36% | -27.45% | -62.06% |
| D&A (Non-Cash Add-back) | 58.78M | 56.38M | 53.18M | 52.1M | 53.3M | 52.7M | 49.4M | 46.8M | 43.1M | 39.01M | 38.2M | 37.1M | 35M | 35.52M | 33.8M | 34.5M | 35.2M | 34.75M | 34.1M | 31.5M |
| EBIT | 135.1M | 103.6M | 102.65M | 78.2M | 86.1M | 89.6M | 149.2M | 212M | 229.1M | 198.76M | 144.2M | 202.4M | 167.6M | 233.96M | 229.8M | 119M | 22.6M | 1.75M | -3.6M | 12.4M |
| Net Interest Income | -17.03M | -12.89M | -20.23M | -14.2M | -14M | -14.23M | -11.5M | -11.2M | -11.9M | -10.5M | -12.3M | -15.4M | -8.4M | -10.31M | -11.3M | -11.7M | -11.9M | -11.8M | -10.4M | -10M |
| Interest Income | 1.58M | 2.52M | 3.51M | 3.6M | 3.8M | 3.77M | 6.9M | 7.65M | 6.34M | 3.46M | 4.2M | 2.6M | 4.1M | 2.65M | 1.2M | 300K | 0 | 500K | 500K | 0 |
| Interest Expense | 18.61M | 15.4M | 23.74M | 17.8M | 17.8M | 18M | 18.4M | 18.9M | 18.3M | 13.96M | 16.5M | 18M | 12.5M | 12.97M | 12.5M | 12M | 11.9M | 12.3M | 10.9M | 10M |
| Other Income/Expense | -13M | -9.97M | -18.53M | -14.2M | -14M | -14.7M | -11.5M | -11.2M | -11.9M | -10.5M | -12.3M | -15.4M | -8.4M | -9.86M | -11.3M | -11.7M | -11.9M | -12.24M | -10.4M | -10M |
| Pretax Income | 122.1M | 88.19M | 78.92M | 60.4M | 68.3M | 74.8M | 130.8M | 193.1M | 210.8M | 184.8M | 127.7M | 184.4M | 155.1M | 221.66M | 217.3M | 107M | 10.7M | -7.95M | -14.1M | 2.4M |
| Pretax Margin % | 30.85% | 24.84% | 23% | 19.16% | 20.75% | 24.49% | 35.15% | 44.12% | 47.47% | 47.65% | 35.66% | 47.98% | 39.75% | 49.55% | 48.49% | 31.61% | 5.11% | -4.2% | -9.07% | 1.59% |
| Income Tax | 1.58M | 805.4K | 1.2M | 1.7M | 5.4M | -2.6M | 100K | -1.1M | 1.6M | 235K | 3.4M | -1M | 1.5M | -6.81M | 200K | 400K | 300K | 244K | 600K | 300K |
| Effective Tax Rate % | 1.29% | 0.91% | 1.52% | 2.81% | 7.91% | -3.48% | 0.08% | -0.57% | 0.76% | 0.13% | 2.66% | -0.54% | 0.97% | -3.07% | 0.09% | 0.37% | 2.8% | -3.07% | -4.26% | 12.5% |
| Net Income | 120.52M | 87.39M | 77.72M | 58.6M | 62.9M | 77.7M | 130.5M | 194.5M | 209.2M | 184.56M | 124.3M | 185.4M | 153.6M | 228.65M | 217.1M | 106.6M | 10.4M | -8.19M | -14.7M | 2.1M |
| Net Margin % | 30.45% | 24.62% | 22.65% | 18.59% | 19.11% | 25.44% | 35.07% | 44.44% | 47.11% | 47.59% | 34.71% | 48.24% | 39.36% | 51.11% | 48.45% | 31.49% | 4.97% | -4.33% | -9.45% | 1.39% |
| Net Income Growth % | 91.61% | 12.47% | -40.45% | -69.87% | -69.93% | -57.9% | 4.99% | 4.91% | 36.2% | -19.28% | -42.75% | 73.92% | 1376.92% | 2892.21% | 1576.87% | 4976.19% | 148.83% | 79.52% | -2550% | -97.05% |
| Net Income (Continuing) | 120.52M | 87.39M | 77.72M | 58.7M | 62.9M | 77.4M | 130.7M | 194.2M | 209.2M | 184.57M | 124.3M | 185.4M | 153.6M | 228.47M | 217.1M | 106.6M | 10.4M | -8.19M | -14.7M | 2.1M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 800K | 800K | 1.4M | 1M | 1.4M | 1.9M | 1.9M | 1.9M | 2.4M | 2.3M | 2.4M | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 1.17 | 0.88 | 0.77 | 0.58 | 0.62 | 0.80 | 1.35 | 2.01 | 2.26 | 2.17 | 1.42 | 2.14 | 1.81 | 2.85 | 2.63 | 1.31 | 0.13 | -0.10 | -0.18 | 0.03 |
| EPS Growth % | 88.71% | 10% | -42.96% | -71.14% | -72.57% | -63.13% | -4.93% | -6.07% | 24.86% | -23.86% | -46.01% | 63.36% | 1292.31% | 2950% | 1561.11% | 4266.67% | 144.83% | 81.48% | -1900% | -96.88% |
| EPS (Basic) | 1.19 | 0.88 | 0.79 | 0.60 | 0.64 | 0.81 | 1.38 | 2.07 | 2.34 | 2.21 | 1.47 | 2.23 | 1.89 | 2.92 | 2.66 | 1.31 | 0.13 | -0.10 | -0.18 | 0.03 |
| Diluted Shares Outstanding | 103.3M | 99.77M | 100.8M | 100.8M | 100.7M | 97.81M | 97M | 96.4M | 92.6M | 87.46M | 87.5M | 86.7M | 85.33M | 83.86M | 82.55M | 81.2M | 80.8M | 80.7M | 80.3M | 76.8M |
| Basic Shares Outstanding | 101.5M | 99.77M | 98M | 97.8M | 97.4M | 97.81M | 94.4M | 93.7M | 89.8M | 85.73M | 84.4M | 83.5M | 81.9M | 81.82M | 81.5M | 81.2M | 80.8M | 78.34M | 80.3M | 76.8M |
| Dividend Payout Ratio | 58.33% | 71.03% | 47.47% | 166.72% | - | 148.78% | 134.85% | 137.63% | - | 66.75% | 101.99% | 184.32% | - | 52.17% | 21.79% | - | - | - | - | - |