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Scorpio Tankers: 1Q Earnings Snapshot

MONACO (AP) _ Scorpio Tankers Inc. (STNG) on Thursday reported first-quarter net income of $14.5 million, after reporting a loss in the same period a year earlier.

The company said it had profit of 30 cents per share. Earnings, adjusted for non-recurring costs, came to 31 cents per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.

The shipping company posted revenue of $195.8 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $191.5 million.

Scorpio Tankers shares have climbed 47% since the beginning of the year. The stock has dropped 1% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on STNG at https://www.zacks.com/ap/STNG