Teekay Tankers Q1 net income surges on higher spot rates

Teekay Tankers

13/05/2026 21:21

Overview

Oil tanker operator's Q1 net income and EPS rose yr/yr, driven by higher spot tanker rates

Company declared combined cash dividend of $1.25 per share, including $1.00 special dividend

Outlook

Company expects tanker market volatility to persist due to Middle East conflict and Strait closure

Teekay Tankers says fleet renewal and low cash flow break-even support investment capacity

Result Drivers

HIGHER SPOT RATES - Co said Q1 results were driven by record spot tanker rates, attributed to Middle East conflict and closure of Strait of Hormuz

REDUCED FLEET SUPPLY - Co said effective fleet supply fell as vessels were trapped in the Middle East Gulf, boosting spot rates

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$4.42
Q1 Net Income
$153.60 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the oil & gas transportation services peer group is "buy"

Wall Street's median 12-month price target for Teekay Tankers Ltd is $83.50, about 4.3% above its May 12 closing price of $80.06

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)