Teekay Tankers: Gains on smaller-than expected Q1 loss

Teekay Tankers

13/05/2021 17:16

** Shares of crude oil tanker company  TNK.N  up as much as
4.38% at $14.33
    ** Co posts Q1 adjusted loss of 65 cents per share, lower
than Refinitiv IBES estimates of a loss of 80 cents per share 
    ** Co also posts bigger-than expected revenue of $142.7 mln
    ** The outlook for the second half of 2021 looks more
positive as global oil demand is expected to recover in tandem
with the rollout of vaccination programs and as the OPEC+ group
of producers return oil supply to the market- TNK 
    ** Up to last close, stock up ~30% YTD

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com;))