DHT Holdings, Inc. (NYSE:DHT) Q1 2023 Earnings Conference Call May 4, 2023 8:00 AM ET
Company Participants
Laila Halvorsen - Chief Financial Officer
Svein Moxnes Harfjeld - President and CEO
Conference Call Participants
Chris Tsung - Webber Research
Jonathan Chappell - Evercore
Omar Nokta - Jefferies
Frode Morkedal - Clarksons Securities
Robert Silvera - R.E. Silvera and Associates
Operator
Good day and thank you for standing by. Welcome to the Q1 2023 DHT Holdings Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions]
Please be advised today’s conference is being recorded. I would now like to hand the conference over to your first speaker today Laila Halvorsen CFO. Please go ahead.
Laila Halvorsen
Thank you. Good morning, and good afternoon, everyone. Welcome and thank you for joining DHT Holdings first quarter 2023 earnings call. I’m joined by DHT’s President and CEO, Svein Moxnes Harfjeld. As usual we will go through financials and some highlights before we open up for your questions. So link to the slide deck can be found on our website dhtankers.com.
Before we get started with today’s call, I would like to make the following remarks. A replay of this conference call will be available at our website dhtankers.com until May 11th. In addition, our earnings press release will be available on our website and on the SEC EDGAR system as an exhibit to our Form 6-K.
As a reminder, on this conference call, we will discuss matters that are forward looking in nature. These forward-looking statements are based on our current expectations about future events as detailed in our financial report.
Actual results may differ materially from the expectations reflected in these forward-looking statements. We urge you to read our periodic reports available on our website and on the SEC EDGAR system including the risk factors in these reports for more information regarding risks that we face.
We have a solid -- work solid balance sheet represented by low leverage and significant liquidity. Financial leverage is about 18% based on market values for the ships and net debt per vessel was $12 million.
The quarter ended with total liquidity of $346 million, consisting of $117 million in cash and $229 million available under revolving credit facilities. You should also note that we have no newbuilding CapEx commitments.
We achieved revenues on TCE basis of $93.9 million during the quarter and EBITDA of $71.9 million. Net income was $38 million equal to $0.23 per share.