DHT Holdings reports Q1 EPS 23c, consensus 24c

Reports Q1 adjusted revenue $93.9M, consensus $101.15M. The company said, "During the first quarter the market was healthy, demonstrated by the swift but steady recovery after the fall in freight rates early in the quarter. China has increased imports of crude oil in response to increasing refinery runs to support rising economic activity due to the opening up of its society with increased mobility. Into the second quarter, Asian refining margins have come off but are still profitable. The macro-economic challenges have not abated with a recession in some shape or form being a possibility. The leading agencies forecast growing oil demand, in particular from the second half of the year. OPEC+, however, surprised the market with announced production cuts from May. How the cuts will be implemented and how it will impact trade flows is yet to be seen in detail, but it could be a temporary dent in an otherwise constructive market for our business."