[6-K] Teekay Corporation Ltd. Current Report (Foreign Issuer)

Rhea-AI Filing Summary

Public Storage filed a medium-length Form 8-K dated 30-Jul-2025.

Item 2.02: The company released its Q2 2025 earnings results via press release (Exhibit 99.1). Specific revenue, FFO and guidance figures are not included in this filing; investors must review the exhibit for details.

Item 5.02: The Board of Trustees expanded from 12 to 13 members and appointed Luke Petherbridge—current CEO of Link Logistics—as an independent trustee, effective immediately and serving until the 2026 AGM. He will join the Nominating, Governance & Sustainability Committee. Mr. Petherbridge received an initial equity award valued at $540,000 in AO LTIP units and will receive the standard non-employee trustee compensation package disclosed in the 2025 proxy statement.

Standard NYSE-listed share classes and senior note guarantees are reaffirmed, and routine emerging-growth-company and indemnification disclosures are provided.

Positive

• Board expanded to 13 with appointment of independent trustee Luke Petherbridge, enhancing governance and industry expertise.
• Equity compensation aligns new trustee interests with shareholders while remaining immaterial to dilution.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Board enlarged, adds seasoned logistics CEO; governance looks incrementally stronger.

The appointment of Luke Petherbridge brings deep industrial real-estate experience and global perspective. His independence satisfies NYSE requirements, and adding him to the Nominating, Governance & Sustainability Committee signals heightened attention to ESG oversight. The $540 k equity grant aligns incentives with shareholders and is immaterial to dilution. Overall, the action modestly improves board depth without obvious risks.

Securities Analyst

TL;DR: Filing signals earnings release but supplies no financials—impact modest until Exhibit 99.1 reviewed.

Because the 8-K references, but does not reproduce, Q2 2025 financial metrics, investors lack immediate data to adjust models. The governance change is positive but unlikely to affect valuation multiples near-term. I classify the disclosure as low-impact until earnings numbers are assessed.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

_________________________

FORM 6-K

_________________________

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

Date of Report: July 30, 2025

Commission file number 1-12874

_________________________

TEEKAY CORPORATION LTD.

(Exact name of Registrant as specified in its charter)

_________________________

2nd Floor, Swan Building

26 Victoria Street,

Hamilton, HM 12 Bermuda

(Address of principal executive office)

_________________________

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ý            Form 40-F ¨

Item 1 — Information Contained in this Form 6-K Report

Attached as Exhibit 1 is a copy of an announcement of Teekay Corporation Ltd. dated July 30, 2025.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

			TEEKAY CORPORATION LTD.
Date: July 30, 2025			By:						/s/ Brody Speers
									Brody Speers Chief Financial Officer (Principal Financial and Accounting Officer)

Exhibit 1

TEEKAY CORPORATION LTD.

SECOND QUARTER 2025 UPDATE

Highlights

•U.S. GAAP net income attributable to shareholders of Teekay of $18.7 million, or $0.22 per share, in the second quarter of 2025.

•As part of Teekay Tankers' fleet renewal plan, Teekay Tankers acquired one 2017-built Suezmax vessel and agreed to acquire the remaining 50% ownership interest in the Hong Kong Spirit Very Large Crude Carrier (VLCC). In addition, since reporting earnings in May 2025, Teekay Tankers has agreed to sell, five vessels for total gross proceeds of $158.5 million.

•Consistent with Teekay Tankers' dividend policy, Teekay Tankers declared a regular, fixed quarterly cash dividend of $0.25 per common share for the quarter ended June 30, 2025, payable on August 22, 2025 to all of Teekay Tankers' shareholders of record on August 11, 2025.

Hamilton, Bermuda, July 30, 2025 - Teekay Corporation Ltd. (Teekay or the Company) (NYSE:TK) today provided an update for the three months ended June 30, 2025, including certain unaudited U.S. GAAP results. These results include those of the Company’s publicly-listed consolidated subsidiary, Teekay Tankers Ltd. (Teekay Tankers) (NYSE:TNK), and of all remaining subsidiaries and equity-accounted investments. Teekay, together with its subsidiaries other than Teekay Tankers, is referred to in this release as Teekay Parent. Please refer to the second quarter of 2025 earnings release of Teekay Tankers, which is available on Teekay's website at www.teekay.com, for additional information on Teekay Tankers' results.

Financial Summary

						Three Months Ended
						June 30,			March 31,			June 30,
(in thousands of U.S. dollars, except per share amounts)						2025			2025			2024
						(unaudited)			(unaudited)			(unaudited)
TEEKAY CORPORATION LTD. CONSOLIDATED
GAAP FINANCIAL COMPARISON
Revenues						232,183			231,150			326,139
Income from operations						52,663			71,324			102,243
Net income attributable to the shareholders of Teekay (1)						18,652			14,938			33,820
Earnings per common share of Teekay (1)(2)						0.22			0.17			0.36

						As at			As at			As at
						June 30,			March 31,			December 31,
(in thousands of U.S. dollars, except number of shares)						2025			2025			2024
						(unaudited)			(unaudited)			(unaudited)
TEEKAY PARENT
Cash and cash equivalents, and short-term investments (3)						200,648			177,394			183,443
Market value of investment in Teekay Tankers (4)						444,081			407,358			423,537
Number of outstanding common shares at end of period						85,269,031			83,467,936			84,059,952

(1)For the quarter ended June 30, 2025, includes $4.6 million, or $0.05 per share, related to gains on Teekay Tankers' vessel sales. For the quarter ended March 31, 2025, includes $3.4 million, or $0.04 per share, related to the net impact of gains on Teekay Tankers' vessel sales less Teekay Tankers' unrealized loss on marketable securities.

(2)Basic per share amounts.

(3)Teekay Parent's cash position increased compared to that as of March 31, 2025, primarily due to cash dividends of $13.3 million received from Teekay Tankers, proceeds on exercise of stock options and changes in working capital. In July 2025, Teekay Corporation paid the previously announced one-time cash dividend of $1.00 per outstanding common share of Teekay Corporation for a total of $85.3 million.

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(4)As at June 30, 2025, March 31, 2025, and December 31, 2024, Teekay Parent owned 10.6 million, 10.6 million, and 10.6 million Teekay Tankers Class A and B common shares, respectively, and the closing price of Teekay Tankers' Class A common shares was $41.72 per share, $38.27 per share, and $39.79 per share, respectively.

Conference Call

Teekay and Teekay Tankers (collectively, the Teekay Group) plan to host a conference call on Thursday, July 31, 2025 at 11:00 a.m. (ET) to discuss the Teekay Group's results for the second quarter of 2025. All shareholders and interested parties are invited to listen to the live conference call by choosing from the following options:

•By dialing 1(800) 289-0438, or 1(647) 484-0478 if outside of North America, and quoting conference ID code 7368091.

•By accessing the webcast, which will be available on Teekay Tankers’ website at www.teekay.com (the archive will remain on the website for a period of one year).

An accompanying Teekay Group Second Quarter of 2025 Earnings Presentation will also be available at www.teekay.com in advance of the conference call start time.

About Teekay

Teekay is a leading provider of international crude oil marine transportation and other marine services. Teekay provides these services through its controlling ownership interest in Teekay Tankers, a leading owner and operator of mid-sized crude tankers. Teekay Tankers manages and operates approximately 58 conventional tankers and other marine assets, including vessels operated for the Australian Government. With offices in eight countries and approximately 2,200 seagoing and shore-based employees, Teekay Tankers provides a comprehensive set of marine services to the world’s leading energy companies.

Teekay’s common shares trade on the New York Stock Exchange under the symbol “TK”.

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Forward-Looking Statements

This update contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All statements included in this update, other than statements of historical fact, are forward-looking statements. When used in this update, the words “expect,” “believe,” “anticipate,” “plan,” “intend,” “estimate,” “may,” “will”, "should" or similar words are intended to identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the following cautionary statements. All forward-looking statements speak only as of the date hereof and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Forward-looking statements contained in this update include, among others, statements regarding: the timing of payments of cash dividends by Teekay Tankers; and the timing of vessel deliveries by Teekay Tankers.

The following factors are among those that could cause actual results to differ materially from the forward-looking statements, which involve risks and uncertainties, and that should be considered in evaluating any such statement: payment by Teekay Tankers of its declared cash dividends; potential delays of vessel deliveries by Teekay Tankers; and other factors discussed in Teekay’s filings from time to time with the United States Securities and Exchange Commission (or SEC), including its Annual Report on Form 20-F for the fiscal year ended December 31, 2024. Teekay expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Teekay’s expectations with respect thereto or any change in events, conditions or circumstances on which any such statement is based.

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FAQ

What material event did Public Storage (PSA) report on July 30, 2025?

The company filed an 8-K announcing Q2 2025 earnings (via Exhibit 99.1) and the appointment of Luke Petherbridge to its Board.

Who is Luke Petherbridge and what role will he serve at Public Storage?

Petherbridge is CEO of Link Logistics and has been appointed as an independent trustee, also joining the Nominating, Governance & Sustainability Committee.

How many trustees does Public Storage have after the appointment?

The Board size increased from 12 to 13 trustees.

What compensation will the new trustee receive?

An initial equity award of AO LTIP units valued at $540,000 plus the standard non-employee trustee compensation package.

Where can investors find the detailed Q2 2025 financial results?

The full results are in the press release filed as Exhibit 99.1 to this 8-K.