Teekay Tankers: Q1 Earnings Snapshot

By The Associated Press

Posted May 13, 2021 06:09:37 AM.

Last Updated May 13, 2021 06:25:07 AM.

HAMILTON, Bermuda (AP) _ Teekay Tankers Ltd. (TNK) on Thursday reported a first-quarter loss of $21.4 million, after reporting a profit in the same period a year earlier.

The Hamilton, Bermuda-based company said it had a loss of 63 cents per share. Losses, adjusted for non-recurring gains, were 65 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 70 cents per share.

The oil and gas shipping company posted revenue of $142.7 million in the period. Its adjusted revenue was $73.7 million.

Teekay Tankers shares have climbed 25% since the beginning of the year. The stock has dropped 20% in the last 12 months.

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

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