Welcome to our dedicated page for Teekay Corporation news (Ticker: TK), a resource for investors and traders seeking the latest updates and insights on Teekay Corporation stock.
Teekay Corporation Ltd. (NYSE: TK) is a marine transportation company focused on international crude oil shipping and related marine services. News about Teekay often centers on its consolidated results and business updates, which include the performance of its controlled subsidiary, Teekay Tankers Ltd. (NYSE: TNK), a leading owner and operator of mid-sized crude tankers.
On this page, readers can follow TK news that covers quarterly business updates, earnings announcements, and operational highlights. Teekay’s recent releases describe net income attributable to Teekay shareholders, cash position at Teekay Parent, and the market value of its investment in Teekay Tankers. Updates also discuss fleet renewal activity at Teekay Tankers, including vessel acquisitions, vessel sales, and changes in the composition of its tanker fleet and other marine assets.
Company news frequently details dividend declarations by Teekay Tankers and special dividends by Teekay, along with information about conference calls and webcasts where management discusses quarterly and annual results. Announcements from the Teekay Group also highlight governance developments, such as changes to the Boards of Directors of Teekay and Teekay Tankers.
Investors and followers of TK stock can use this news feed to track Teekay’s role in deep sea freight transportation, its relationship with Teekay Tankers, and its marine services for energy companies and government customers. For those monitoring the crude tanker market, Teekay’s news provides context on fleet size, employment mix for tankers, and ship-to-ship transfer and lightering operations associated with Teekay Tankers.
Teekay Corporation reported a GAAP net loss attributable to shareholders of $1.8 million, or $0.02 per share, for Q2 2021. Adjusted EBITDA was $171.9 million, with a slight adjusted net income of $30,000. Teekay LNG continues to perform well with 98% of its fleet fixed for 2021, while Teekay Tankers has in-chartered three Aframax vessels amid uncertainty in the tanker market. The company also reduced its asset retirement obligations by $33 million related to the Banff FPSO. Total liquidity stands at approximately $0.8 billion as of June 30, 2021.
Teekay Corporation (NYSE:TK) is set to announce its second-quarter financial results on August 5, 2021, before market open. The results will cover Teekay, Teekay LNG Partners L.P. (NYSE:TGP), and Teekay Tankers Ltd. (NYSE:TNK). Interested parties are encouraged to join the live conference calls scheduled throughout the day. Teekay is a major player in international marine transportation, managing approximately $9 billion in assets across various vessel types and employing over 5,350 personnel globally.
Teekay Corporation (NYSE:TK) has successfully completed the Decommissioning Services Agreement with CNR International (UK) Limited for its subsea infrastructure at the Banff Field. This agreement allows CNRI to handle Teekay's asset retirement obligations, streamlining the decommissioning process. As a result, Teekay expects to reduce its accrued obligations by approximately $30 million in Q2 2021. This milestone marks a significant step towards winding down Teekay's FPSO segment, concluding over 20 years of operations in the Banff Field.
Teekay Corporation reported a GAAP net income of $30 million, or $0.30 per share, for Q1 2021, improving from a net loss in the same quarter last year. Adjusted EBITDA reached $202.4 million. Teekay LNG increased its common unit distributions by 15%, while Teekay Tankers plans to repurchase six vessels currently under higher-cost financing. Notable advancements were made in winding down the FPSO segment. Despite challenges in the tanker market, positive indicators suggest a recovery. Overall, financial results showed stronger earnings driven by higher rates and fewer operational claims.
Teekay Corporation (NYSE: TK) is set to announce its first-quarter 2021 financial results on May 13, 2021, prior to market opening. Investors can join live conference calls for Teekay, Teekay Tankers (NYSE: TNK), and Teekay LNG (NYSE: TGP) at specified times. Teekay operates a fleet valued around $9 billion, managing approximately 135 tanker and gas assets. It is recognized as a global leader in marine transportation services, significantly contributing to the oil and gas industry.
Teekay reported a GAAP net loss of $19.4 million, or $0.19 per share, for Q4 2020, while adjusted net income was $2.8 million ($0.03 per share). Fiscal year 2020 showed a significant recovery with adjusted net income of $83 million ($0.82 per share) and total adjusted EBITDA increasing to $1.1 billion, up over 14% from 2019. The company reduced consolidated net debt by $887.8 million, reaching $1.0 billion in total liquidity. Teekay LNG plans to raise common unit distributions by 15% to $1.15 per unit starting Q1 2021.
Teekay Corporation (NYSE:TK), Teekay LNG Partners L.P. (NYSE:TGP), and Teekay Tankers Ltd. (NYSE:TNK) will release their financial results for Q4 and FY2020 on February 25, 2021, before market open. Conference calls for each entity will follow at specified times, with access via phone and webcasts available on Teekay's website. Teekay, a key player in marine transportation for crude oil and gas, manages assets worth approximately $9 billion, comprising around 140 vessels, including LNG and crude tankers.
Teekay Corporation (TK) reported a GAAP net loss of $35.4 million, or $0.35 per share, for Q3 2020, impacted significantly by $66.3 million in impairment charges. However, adjusted net income for shareholders was $15.2 million, or $0.15 per share. Total adjusted EBITDA rose 18% year-over-year to $227 million. The company effectively reduced consolidated net debt by $88 million, with total liquidity reaching $1.1 billion. Teekay LNG extended a charter contract into early 2022, while Teekay Tankers secured time-charters for 20% of its fleet at favorable rates.
Teekay Corporation (NYSE:TK), along with its subsidiaries Teekay LNG Partners L.P. (NYSE:TGP) and Teekay Tankers Ltd. (NYSE:TNK), will announce their third-quarter 2020 financial results on November 12, 2020, before market opening. Shareholders can participate in live conference calls or access webcasts via Teekay's website. Teekay is a leading marine transportation services provider, managing assets worth approximately $10 billion across 140 vessels. The company aims to provide comprehensive maritime services to top oil and gas firms globally.
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