TEEKAY CORPORATION Reports Record Earnings for FY2023 Q2 on August 3
August 10, 2023
🌥️Earnings Overview
On August 3 2023, TEEKAY CORPORATION ($NYSE:TK) reported their Q2 earnings results for the quarter ending June 30 2023. The company experienced an increase in revenue of 40.8%, bringing their total to USD 395.4 million, and net income grew from 5.3 million in the preceding year to 40.3 million.
Market Price
The company’s stock opened at $6.5 and closed at the same price, down by 1.1% from the previous closing price of 6.6. During the second quarter of FY2023, the company benefited from a rise in oil prices and increased demand for crude oil transportation services.
In addition, the company also saw higher contributions from its downstream activities, driven by higher LNG cargo values. The strong performance of TEEKAY CORPORATION in the second quarter of FY2023 helped to boost its stock price. Despite the slight decline on August 3, the overall trend in the stock has been positive recently. Overall, TEEKAY CORPORATION reported a solid performance in FY2023 Q2 and investors are optimistic about the company’s prospects going forward. With strong fundamentals and diverse business operations, TEEKAY CORPORATION is well-positioned to capitalize on future opportunities in the energy transportation and storage industry. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Teekay Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 1.51k | 161.34 | 9.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Teekay Corporation. More…
| Operations | Investing | Financing |
| 571.97 | 112.97 | -518.6 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Teekay Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.1k | 482.05 | 7.38 |
Key Ratios Snapshot
Some of the financial key ratios for Teekay Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -9.7% | -0.3% | 39.5% |
| FCF Margin | ROE | ROA |
| 37.1% | 55.9% | 17.8% |
Analysis
GoodWhale has conducted an analysis of TEEKAY CORPORATION‘s financials. According to our Star Chart, TEEKAY CORPORATION obtained a health score of 8/10, indicating strong financial standing, with enough cashflows and debt to pay off debts and effectively fund future operations. Regarding its financial metrics, we consider TEEKAY CORPORATION strong in liquidity, medium in asset, growth, and profitability, and weak in dividend, which we classify it as a “rhino” company–one that has achieved moderate revenue and/or earnings growth. Given these results, we believe that long-term investors may find value in TEEKAY CORPORATION, as its financial stability and modest growth potential make for a reliable investment in the long-term. However, short-term investors may find more attractive opportunities elsewhere. More…
Peers
Teekay Corp is a leading international provider of marine transportation services. Its competitors include TORM PLC, GasLog Partners LP, and Overseas Shipholding Group Inc.
– TORM PLC ($NASDAQ:TRMD)
Torm PLC is a shipping company that owns and operates a fleet of tankers. The company has a market cap of 2.02 billion as of 2022 and a return on equity of 7.59%. Torm PLC operates in the tanker shipping industry and transports crude oil and refined products. The company was founded in 2004 and is headquartered in Denmark.
– GasLog Partners LP ($NYSE:GLOP)
Market cap:
As of 2022, GasLog Partners LP has a market capitalization of 384.03 million US dollars.
ROE:
The company’s return on equity (ROE) for the same year was 1.47%.
Brief intro:
GasLog Partners LP is a Marshall Islands-based limited partnership company engaged in the ownership, operation and management of liquefied natural gas (LNG) carriers. It currently has a fleet of 22 LNG carriers, including 18 chartered-in vessels and four newbuilds under construction. The company’s customers include BG Group, Chevron Corporation, ExxonMobil Corporation, Gas Natural Fenosa, GDF Suez, Mitsui O.S.K. Lines, Qatar Petroleum and Total.
– Overseas Shipholding Group Inc ($NYSE:OSG)
Overseas Shipholding Group Inc is a publicly traded company with a market cap of 262.73M as of 2022. The company has a return on equity of 1.25%. Overseas Shipholding Group is a provider of energy transportation services. The company operates a fleet of oceangoing vessels that transport crude oil and petroleum products.
Summary
TEEKAY CORPORATION reported strong financial results for the second quarter of FY2023, with total revenue increasing by 40.8% when compared to the same quarter last year. Net income was also up significantly, at USD 40.3 million compared to USD 5.3 million in the previous year. This is a positive sign for investors, suggesting that TEEKAY CORPORATION is performing well and is likely to continue on this trajectory. It is important to note, however, that investors should conduct their own research and consult with a financial expert to determine if TEEKAY CORPORATION is a suitable option for their investment portfolio.
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