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Teekay Corporation (TK)
:TK
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Earnings Data
Report Date
Feb 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 15, 2018
|% Change Since: 15.90%
|Next Earnings Date:Aug 02, 2018
Earnings Call Sentiment|Positive
The earnings call was largely positive, focusing on significant financial achievements, a debt-free milestone, and a favorable market outlook. However, challenges remain in maintaining fleet size due to high market prices for new and secondhand vessels.Company Guidance
During Teekay Tankers' Q1 2024 earnings call, the company provided optimistic guidance, highlighting strong financial performance and strategic initiatives. The company reported a total adjusted EBITDA of $151 million, a significant increase from $127 million in the previous quarter. Adjusted net income rose to $132 million, or $3.86 per share, from $100 million, or $2.91 per share, in Q4 2023. Teekay Tankers declared a fixed quarterly cash dividend of $0.25 per share and a special dividend of $2 per share, totaling $4.25 per share returned to shareholders since updating their capital allocation plan. The company achieved a milestone by becoming debt-free after repurchasing vessels valued at $137 million. The favorable tanker market, driven by robust spot rates and the expansion of the Trans Mountain Pipeline, is expected to sustain demand for Aframax tankers. Teekay Tankers expressed confidence in continued market strength, underpinned by positive supply and demand fundamentals, projecting close to zero fleet growth in 2024 and modest growth of around 1% in 2025. The board's decision to declare a special dividend underscores a balanced approach to capital allocation, aiming to enhance shareholder value while planning for fleet rejuvenation.Record Adjusted EBITDA and Net Income
Teekay Tankers generated total adjusted EBITDA of $151 million, up from $127 million last quarter. The company reported adjusted net income of $132 million, an increase from $100 million in the fourth quarter of 2023.
Dividends Declared
A fixed quarterly cash dividend of $0.25 per share and a special dividend of $2 per share were declared. Including these dividends, Teekay Tankers has declared cash dividends of $4.25 per share since the capital allocation plan update last year.
Debt-Free Milestone Achieved
Completion of the repurchase of the remaining 8 vessels on sale-leaseback arrangements for $137 million, achieving a debt-free status.
Positive Market Outlook
Tanker supply and demand fundamentals remain positive with expected continued tanker market strength in the medium-term, supported by factors like the Trans Mountain Pipeline expansion.
Fleet Rejuvenation and Shareholder Value
98% of the 51 vessel fleet operates in the strong spot tanker market, generating $156 million or $4.54 per share of free cash flow in Q1. Annualized free cash flow projected at approximately $14 per share, with a yield of 22%.
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TK 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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TK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $6.48 | $7.28 | +12.35% |
| Aug 01, 2024 | $7.54 | $7.02 | -6.90% |
| May 09, 2024 | $7.01 | $7.53 | +7.42% |
| Feb 22, 2024 | $7.16 | $6.31 | -11.87% |
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 Corporation (TK) report earnings?
Teekay Corporation (TK) is schdueled to report earning on Feb 20, 2025, TBA Not Confirmed.
What is Teekay Corporation (TK) earnings time?
Teekay Corporation (TK) 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 TK EPS forecast?
Currently, no data Available
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