Teekay Corp
Investor Relations

Teekay Corp is a maritime company tied to the transport of oil and other energy cargoes by sea. Through its shipping interests and related management roles, it helps move crude oil, refined fuels, and other liquid cargoes on tankers between producers, refiners, traders, and ports around the world. The company makes money mainly from vessel ownership, chartering, and maritime management fees. In plain English, it earns revenue when ships are hired to carry cargo, when vessels are placed under contract for a set period, and when it provides operating and technical oversight for ships in service. What makes Teekay different from a regular freight company is that it sits in the energy shipping chain, where customers care about ship availability, safety, and reliable long-distance transport more than fast delivery. Its business is closely linked to global oil and fuel trade, so it acts as a specialist carrier and ship manager rather than a general-purpose logistics firm.

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Letzter Earnings Call
Geschäftsperiode
Q1 2026
Datum des Calls
14. Mai 2026
KI-Zusammenfassung
Q1 2026

Strong quarter: Teekay Tankers reported GAAP net income of $154 million, or $4.42 per share, and adjusted net income of $128 million, or $3.69 per share, with results more than $30 million better than last quarter.

Rates surged: First-quarter spot tanker rates averaged about $61,000 per day across the midsized fleet, and management said second-quarter rates have already reached record levels, with VLCC, Suezmax and Aframax LR2 spot fixtures at $141,800, $121,800 and $98,000 per day, respectively.

Balance sheet: Free cash flow was about $143 million in the quarter, bringing cash to just under $1 billion and leaving the company with no debt at quarter end.

Fleet renewal: Teekay agreed to buy 2 Korean resale Suezmax newbuildings for $190 million and sold one 2009-built Suezmax for $53.5 million, continuing its strategy of upgrading the fleet.

Dividend: The company declared a regular quarterly dividend of $0.25 per share and a special dividend of $1.00 per share.

Market backdrop: Management said the Middle East conflict and the effective closure of the Strait of Hormuz have sharply reduced oil flows, lengthened voyages, and tightened vessel supply, supporting tanker rates.

Capital allocation: Management said it is not aiming to be a net seller, but it is being selective on acquisitions because asset prices are high and timing remains uncertain.

Wichtige Finanzkennzahlen
GAAP net income
$154 million
Earnings per share
$4.42
Adjusted net income
$128 million
Adjusted earnings per share
$3.69
Spot tanker rates
$61,000 per day
Free cash flow
$143 million
Cash
just shy of $1 billion
Debt
$0
Free cash flow breakeven
approximately $8,200 per day
Fleet investment commitment
$332 million
Vessel sales
$211 million
Regular quarterly dividend
$0.25 per share
Special dividend
$1 per share
Q2 VLCC spot rate
$141,800 per day
Q2 Suezmax spot rate
$121,800 per day
Q2 Aframax LR2 spot rate
$98,000 per day
Q2 VLCC spot days booked
approximately 71%
Q2 Suezmax and Aframax LR2 spot days booked
around 57% on average
Aufzeichnung des Earnings Calls
Weitere Earnings Calls

Geschäftsleitung

Mr. Kenneth Hvid
President, CEO & Director
Keine Biografie verfügbar
Mr. Brody Speers
VP of Finance & Treasurer
Keine Biografie verfügbar
Mr. Ryan Hamilton C.A.
Manager of Finance & Investor Relations
Keine Biografie verfügbar
Mr. Frans Lotz
General Counsel, Secretary & Privacy Officer
Keine Biografie verfügbar
Ms. Ingvild Sæther
President & CEO of Teekay Offshore Group Ltd
Keine Biografie verfügbar
Lee Edwards
Financial Analyst
Keine Biografie verfügbar

Kontakt

Adresse
Hamilton
4th Floor, Belvedere Building, 69 Pitts Bay Road
Kontakt
+14412982530.0
www.teekay.com
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