Teekay Tankers (TNK) has disclosed a new risk, in the Demand category.
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Teekay Tankers faces a notable business risk due to its reliance on a limited number of significant customers for a substantial portion of its revenues. Although no single customer accounted for over 10% of its consolidated revenues in recent years, the potential loss of a key customer or their inability to pay could materially affect the company’s financial performance. This risk could arise from various scenarios, such as payment defaults, contract terminations due to performance issues, or external factors like sanctions or force majeure events. Such occurrences could significantly disrupt Teekay Tankers’ operations and financial stability.
Overall, Wall Street has a Hold consensus rating on TNK stock based on 1 Buy and 1 Sell.
To learn more about Teekay Tankers’ risk factors, click here.