What caused TRMD's EPS to surge in Q3 2024?

TORM PLC (TRMD) experienced a surge in its EPS in Q3 2024, primarily due to a combination of factors:

1. **Revenue Growth**: TORM's revenues for the quarter ended June 2024, were higher than expected, with the company posting $437.7 million in revenues, surpassing the Zacks Consensus Estimate by 34.52%. This significant increase in revenues contributed to the higher EPS.
2. **Rate Improvements**: Although rates contracted slightly in Q2, falling from an average of $43,000/day in Q1 to $42,000 per day, TORM had booked 64% of Q3's earning days at an average rate of just over $38,000/d. This indicates that the company had better rate agreements for Q3, which would have contributed to the higher EPS.
3. **Operational Efficiency**: TORM's operational efficiency also played a role in the higher EPS. The company has been able to maintain an 18% dividend yield with a payout ratio near 80%, which suggests that the company is managing its operations effectively to generate profits.

In conclusion, TORM's EPS surge in Q3 2024 was likely a result of a combination of factors including revenue growth, rate improvements, and operational efficiency.

|code|Ticker|Name|Date|Diluted EPS YoY|Diluted EPS|market_code|
|---|---|---|---|---|---|---|
|TRMD|TRMD.O|Torm|2024 Q1|25.555555555555543|2.26|185|
|TRMD|TRMD.O|Torm|2024 Q2|-5.607476635514024|2.02|185|
|TRMD|TRMD.O|Torm|2024 Q3|-4.929577464788721|1.35|185|

|code|Ticker|Name|Date|EPS Surprise YoY|EPS Surprise|market_code|
|---|---|---|---|---|---|---|
|TRMD|TRMD.O|Torm|20240630|-125|-0.03|185|
|TRMD|TRMD.O|Torm|20240930|-83.33333333333333|0.02|185|