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Teekay Tankers Ltd (TNK)
NYSE:TNK
Holding TNK?
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Earnings Data
Report Date
Feb 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
2.07Last Year’s EPS
2.91Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 15, 2018
|% Change Since: -8.36%
|Next Earnings Date:Aug 02, 2018
Earnings Call Sentiment|Positive
The earnings call highlighted strong financial performance, strategic acquisitions, and a robust balance sheet, while also acknowledging some seasonal downturns and market challenges. The outlook for the tanker market remains optimistic, with expectations of firm rates through the winter.Company Guidance
During the Teekay Group's Q3 2024 earnings call, Kenneth Hvid, President and CEO of Teekay Corporation and Teekay Tankers, highlighted several key metrics and strategic updates. The company reported an adjusted net income of $63.5 million, or $1.84 per share, with an adjusted EBITDA of nearly $76 million. Teekay Corp. plans to allocate up to $230 million back into the business, including a $1 per share special cash dividend totaling approximately $85 million, and a $40 million share buyback plan. Teekay Tankers will acquire Teekay Australia for $65 million, adding an estimated annual EBITDA of $10 million. The company's strong balance sheet, characterized by no debt and significant cash reserves, positions it favorably in the cyclical tanker market. Teekay Tankers maintained a quarterly fixed dividend of $0.25 per share and emphasized its focus on disciplined fleet management and reinvestment. Additionally, spot rates were reported in the low to mid-$30,000 per day, with an optimistic outlook for the winter season.Strong Balance Sheet
Teekay Group has one of the strongest balance sheets in the industry with no debt and considerable cash positions.
Cash Return to Shareholders
Teekay Corp. is allocating up to $230 million of its cash back into the business, including returning $144 million of capital to its shareholders, over 20% of its current market cap.
Teekay Tankers' Third Quarter Performance
TNK's third quarter earnings and free cash flow remained strong with spot rates in the low to mid-$30,000 per day. Adjusted net income was $63.5 million or $1.84 per share, and adjusted EBITDA was nearly $76 million.
Teekay Australia's Acquisition
TNK is acquiring Teekay Australia for $65 million in cash with an estimated annual EBITDA of $10 million, consisting primarily of stable, longer-term government service contracts.
Tanker Market Outlook
Spot tanker rates remained historically firm in Q3 and are expected to remain relatively firm through the winter with potential support from increased crude oil export volumes.
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TNK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TNK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $47.58 | $47.42 | -0.34% |
| Aug 01, 2024 | $64.78 | $61.03 | -5.79% |
| May 09, 2024 | $60.93 | $66.46 | +9.08% |
| Feb 22, 2024 | $55.31 | $52.29 | -5.46% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Teekay Tankers Ltd (TNK) report earnings?
Teekay Tankers Ltd (TNK) is schdueled to report earning on Feb 20, 2025, TBA Not Confirmed.
What is Teekay Tankers Ltd (TNK) earnings time?
Teekay Tankers Ltd (TNK) earnings time is at Feb 20, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TNK EPS forecast?
TNK EPS forecast for the fiscal quarter 2024 (Q4) is 2.07.
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