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Recap: Teekay Tankers Q1 Earnings

Benzinga Insights
·1 min read

Shares of Teekay Tankers (NYSE:TNK) moved higher by 2.7% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share were up 6440.00% year over year to $3.27, which beat the estimate of $2.66.

Revenue of $222,659,000 higher by 64.73% year over year, which missed the estimate of $276,250,000.

Outlook

Teekay Tankers hasn't issued any earnings guidance for the time being.

Teekay Tankers hasn't issued any revenue guidance for the time being.

Details Of The Call

Date: May 21, 2020

View more earnings on TNK

Time: 12:00 PM

ET Webcast URL: https://globalmeet.webcasts.com/starthere.jsp?ei=1313968&tp_key=fa1c316726

Technicals

52-week high: $26.92

52-week low: $0.96

Price action over last quarter: down 0.36%

Company Description

Teekay Tankers Ltd is a provider of marine services to the global oil and natural gas industries and an operator of medium-sized oil tankers. Its business is to own oil tankers and it employs a chartering strategy that seeks to capture upside opportunities in the tanker spot market while using fixed-rate time charters to reduce downside risks. The company has two segments tanker and ship-to-ship transfer. Its tanker segment consists of the operation of all of its tankers and generates the majority of the company's revenue.

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