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, 2020View more earnings on TNKTime: 12:00 PMET Webcast URL: https://globalmeet.webcasts.com/starthere.jsp?ei=1313968&tp_key=fa1c316726Technicals 52-week high: $26.9252-week low: $0.96Price 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.See more from Benzinga * Stocks That Hit 52-Week Highs On Tuesday * 20 Energy Stocks Moving In Monday's Pre-Market Session * Stocks That Hit 52-Week Highs On Tuesday(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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NEW YORK, NY / ACCESSWIRE / May 21, 2020 / Teekay Tankers Ltd. (NYSE:TNK) will be discussing their earnings results in their 2020 First Quarter Earnings call to be held on May 21, 2020 at 12:00 PM Eastern ...
Please allow me to remind you that our discussion today contains forward-looking statements. Actual results may differ materially from results projected by those forward-looking statements. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in the first quarter 2020 earnings release and earnings presentation available on our website.
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Highlights Reported GAAP net income of $106.8 million, or $3.17 per share, and adjusted net income(1) of $110.0 million, or $3.27 per share, in the first quarter of 2020.
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Teekay Tankers (TNK) delivered earnings and revenue surprises of 19.93% and 0.66%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?