Nordic American Tankers Limited (NAT) SEC Filings & Earnings Calls
EquiReason read 7 Nordic American Tankers Limited SEC filings in the last 12 months. Latest: 6-K on 2026-09-28 — Nordic American Tankers announces date for Annual General Meeting of Shareholders (November 20, 2026) and related proxy materials. No financial or operational updates..
Source: SEC EDGAR filings · figures as of 2026-03-31 · read by EquiReason
- Market cap
- 1.7B
- P/E TTM
- 30.7
- Dividend yield
- 4.6%
- 52-week
- —
- Next earnings
- 26 Nov, in 33 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
1 Jun 20266-KQ1 2026 net income $46.3M vs $11.7M in Q4 2025; TCE $47,600/day vs $27,490/day; dividend raised to $0.22/share; 90% of fleet booked at ~$68,000/day in Q2. Strong demand driven by Middle East tensions and Strait of Hormuz closure.earningsopen
Figures in the filing · each found in the filing text
| net income · Q1-2026 | $46M | |
| dividend per share · Q1-2026 | $0.22 | |
| average TCE · Q1-2026 | $47600.00 | |
| booked fleet percentage · Q2-2026 | 90.0% | |
| booked rate Q2 · Q2-2026 | $68000.00 | |
| fleet size · Q1-2026 | 18 | |
| adjusted EBITDA · Q1-2026 | $54M | |
| operating cost per day per ship · Q1-2026 | $10000.00 | |
| gain on sale of vessels · Q1-2026 | $14M |
Guidance
Dividend raised to $0.22/share; Q2 booked at ~$68,000/day
Strong Q1 beat, dividend raise, and positive Q2 outlook driven by geopolitical tailwinds.
Risks flagged
Geopolitical risk: Strait of Hormuz closure may be temporary; rates could normalize.
“Should the Strait of Hormuz open up fully, more oil volume should become available and allow for re-stocking of depleted international oil stocks.” · word for word
29 Apr 202620-FAnnual report (20-F) filed with no material event; contains generic risk factors and fleet updates.open
Figures in the filing · each found in the filing text
| Fleet size · FY2025 | 20 | |
| Operating cash break-even per day per vessel · FY2025 | $10000.00 | |
| Dividends per share · FY2025 | $0.36 |
Risks flagged
Geopolitical and sanctions risk
“the recent armed conflict between the U.S. and Israel, and Iran has caused a de facto closure of the Strait of Hormuz and further disruption of trade routes in the Red Sea, which could have significant impacts in the Middle East region and on the global oil markets.” · word for word
Trade protectionism risk
“Protectionist developments, or the perception that they may occur, may have a material adverse effect on global economic conditions, and may significantly reduce global trade.” · word for word
Oil demand transition risk
“A shift in consumer demand from oil towards other energy sources or changes to trade patterns for crude oil or refined oil products may have a material adverse effect on our business.” · word for word
Cybersecurity risk (no insurance)
“We do not maintain cyber-liability insurance at this time to cover such losses.” · word for word
2 Mar 20266-KNordic American Tankers reported Q4 2025 net profit of $11.7M vs Q3 net loss of -$2.8M, a significant turnaround. TCE rose 25% QoQ to $35,000/day. Q1 2026 spot bookings at ~$55,000/day for nearly 2/3 of days. Entered 1-year fixed contract wopen
Figures in the filing · each found in the filing text
| Net profit · Q4-2025 | $12M | |
| Adjusted EBITDA · Q4-2025 | $35M | |
| Average TCE per day per vessel · Q4-2025 | $35000.00 | |
| Operating costs per day per ship · Q4-2025 | $9000.00 | |
| Dividend per share · Q4-2025 | $0.17 | |
| Fleet size · Q4-2025 | 20 | |
| Net debt · Q4-2025 | $306M | |
| Cash position · Q1-2026 | $100M | |
| 1Q26 booked rate · Q1-2026 | $55000.00 |
Guidance
1Q26 spot days booked at ~$55k/day; 1-year fixed contract >$50k/day
Strong forward guidance: Q1 2026 spot rates significantly higher than Q4 2025 TCE; newbuilding orders placed; fleet expansion underway.
Risks flagged
Geopolitical tensions and shadow fleet pressure create both opportunity and risk; fleet age management.
“increased pressure on the so-called shadow fleet and transportation of sanctioned oil is already increasing demand for compliant ships” · word for word
28 Nov 20256-KNordic American Tankers Q3 2025 net loss -$2.8M (vs -$0.9M in Q2), TCE $27,490/day (vs $26,880 in Q2), Adj. EBITDA $21.4M. Dividend $0.13/share. Newbuilding LOI for 2 Suezmax tankers. Demand strong but rates seasonally weak.open
Figures in the filing · each found in the filing text
| Net income · Q3-2025 | $-3M | |
| Adjusted EBITDA · Q3-2025 | $21M | |
| Time charter equivalent · Suezmax fleet · Q3-2025 | $27490.00 | |
| Dividend per share · Q3-2025 | $0.13 | |
| Fleet size · Q3-2025 | 20 | |
| Operating costs per day per ship · Q3-2025 | $9000.00 |
Risks flagged
Net loss persists; reliance on spot market (16 of 20 vessels) exposes to rate volatility.
“Net loss of -$2.8 million; sixteen of our twenty vessels in the spot market”
Nordic American Tankers Limited — questions
- What did Nordic American Tankers Limited file recently?
- 7 SEC filings in the last 12 months. Latest: 6-K on 2026-09-28 — Nordic American Tankers announces date for Annual General Meeting of Shareholders (November 20, 2026) and related proxy materials. No financial or operational updates.
Every figure on this page comes from Nordic American Tankers Limited's own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.