Teekay Tankers Q3 Results and Strategic Acquisition

Teekay Tankers (TNK) has released an update.

Teekay Tankers Ltd. reported a GAAP net income of $58.8 million for the third quarter of 2024 and announced its acquisition of Teekay Corporation Ltd.’s Australian operations for $65 million. The company also declared a cash dividend of $0.25 per share, reflecting its efforts to become a fully-integrated shipping company. Despite securing strong spot rates, Teekay’s net income was affected by lower average tanker rates and restructuring charges.

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