Teekay Tankers Stock Price, News & Analysis

Teekay Tankers Ltd. (NYSE: TNK) reported its financial results for the fourth quarter and year ended December 31, 2022. The company operates a fleet of 44 double-hull tankers, including Suezmax, Aframax, and LR2 product tankers. Teekay employs a mix of time charter contracts and spot market trading. Additionally, it has eight chartered-in tankers and a joint venture holding a Very Large Crude Carrier. The press release highlights Teekay's strategic position within the oil tanker sector, focusing on its diverse fleet and operational capabilities to optimize revenue generation.

Teekay Tankers Ltd. reported its financial results for Q3 2022, showcasing a fleet of 44 double-hull tankers, including 25 Suezmax and 10 Aframax tankers. The company employs a mix of fixed-rate time charters and spot trading for its vessels. Additionally, it operates a ship-to-ship transfer business in the U.S. Gulf and Caribbean. As of Q3 2022, Teekay continues its operations under the NYSE symbol TNK.

Teekay Tankers Ltd. (NYSE: TNK) reported its financial results for the quarter ending June 30, 2022. The company operates a fleet of 45 double-hull tankers, including Suezmax, Aframax, and LR2 product tankers, with additional time-chartered vessels. Teekay also manages a ship-to-ship transfer business in the U.S. Gulf and Caribbean. The earnings release and presentation are available on their website. Teekay Tankers was established in December 2007 to enhance its oil tanker operations.

Teekay Tankers Ltd. (NYSE: TNK) reported its results for Q1 2022, highlighting its fleet of 45 double-hull tankers, including 25 Suezmax and 11 Aframax vessels. The company utilizes a mix of contracts and spot trading for its operations. Teekay, formed in 2007, also owns a VLCC through a joint venture and a ship-to-ship transfer business operating in the U.S. Gulf and Caribbean. Further details are available on their website.

Teekay Tankers Ltd. (NYSE: TNK) released its financial results for Q4 and the full year of 2021 on February 24, 2022. The company operates a fleet of 47 double-hull tankers, including Suezmax, Aframax, and LR2 product tankers, supplemented by three time-chartered vessels. Their shipping operations involve both fixed-rate contracts and spot market trading. Teekay Tankers was established in December 2007 by Teekay Corporation, aiming to enhance its oil tanker business.

Teekay Tankers reported a GAAP net loss of $52.1 million ($1.54 per share) for Q3 2021, with an adjusted net loss of $50.1 million ($1.48 per share). Total revenues fell to $115.9 million, a drop from $170.2 million in Q3 2020. The company repurchased six vessels for $129 million and refinanced others, enhancing its liquidity to approximately $209 million. CEO Kevin Mackay noted weak crude tanker rates due to OPEC+ cuts and COVID-19 impacts, although signs of recovery are seen with increased oil demand expected this winter and a modest improvement in tanker rates. Stock Symbol: TNK

Teekay Tankers Ltd. (TNK) reported a significant GAAP net loss of $129.1 million ($3.83 per share) for Q2 2021, largely due to $86.7 million in vessel write-downs and lower tanker rates. Adjusted net loss stood at $41.5 million ($1.23 per share). Revenues decreased to $123.42 million from $142.75 million in Q1 2021. Despite ongoing market challenges linked to OPEC+ production cuts and the COVID-19 pandemic, the company aims to refinance high-cost vessel leases into lower-cost arrangements, enhancing liquidity, which stood at around $274 million as of June 30, 2021.