TEEKAY TANKERS Reports Financial Results for Q2 FY2023 Ending August 4, 2023
August 10, 2023
🌥️Earnings Overview
TEEKAY ($NYSE:TNK):
Price History
TEEKAY TANKERS reported their financial results for Q2 FY2023 on Friday, ending August 4, 2023. The stock opened at $44.5 and closed at $43.9, down by 0.5% from the last closing price of 44.1. This is the company’s third consecutive quarter of lower than expected profits, causing investors to remain cautious of the stock’s future performance. This indicates that the company is in a strong financial position and can sustain any short-term dips in their profits.
Overall, despite the drop in profits, TEEKAY TANKERS remains a strong performer in the tanker industry and is well-positioned to capitalize on future opportunities. Investors remain optimistic that the company can turn around its fortunes and achieve profitability in the upcoming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Teekay Tankers. More…
| Total Revenues | Net Income | Net Margin |
| 1.41k | 535.09 | 37.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Teekay Tankers. More…
| Operations | Investing | Financing |
| 561.62 | 16.31 | -470.29 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Teekay Tankers. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.78k | 431.03 | 39.67 |
Key Ratios Snapshot
Some of the financial key ratios for Teekay Tankers are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.1% | 22.8% | 41.3% |
| FCF Margin | ROE | ROA |
| 39.0% | 28.2% | 20.5% |
Analysis
GoodWhale recently conducted an analysis of TEEKAY TANKERS‘s wellbeing. According to our Star Chart, TEEKAY TANKERS has a high health score of 8/10 with regard to its cashflows and debt, suggesting that it is capable to safely ride out any crisis without the risk of bankruptcy. We classified TEEKAY TANKERS as a ‘gorilla’ type of company; one that has achieved stable and high revenue or earning growth due to its strong competitive advantage. Given its attributes, we believe that TEEKAY TANKERS is an attractive investment opportunity for value, growth, and dividend investors. Specifically, we categorize TEEKAY TANKERS as strong in growth, and medium in asset, dividend, and profitability. Consequently, investors who are seeking both capital appreciation and income generation may find the stock appealing. More…
Peers
The company operates a fleet of product and crude tankers, providing seaborne transportation of crude oil and refined petroleum products under long-term, medium-term, and spot-market contracts with major oil companies, national oil companies, and other independent oil companies and traders. Teekay Tankers is a publicly traded, Bermuda-based limited partnership formed in December 2007. The company is a subsidiary of Teekay Corporation. Teekay Tankers’ competitors include GasLog Partners LP, Genesis Energy LP, and Teekay Corp.
– GasLog Partners LP ($NYSE:GLOP)
As of 2022, GasLog Partners LP has a market cap of 422.38M and a Return on Equity of 1.47%. The company is involved in the ownership, operation, and management of liquefied natural gas carriers.
– Genesis Energy LP ($NYSE:GEL)
Genesis Energy, LP is a publicly traded midstream energy company with operations in the Gulf Coast and Rocky Mountain regions of the United States. The company’s market capitalization is $1.25 billion as of 2022, and its return on equity is 10.05%. Genesis Energy’s business is focused on the transportation, storage, and marketing of crude oil, natural gas liquids, and refined products. The company also owns and operates a network of pipelines and terminals.
– Teekay Corp ($NYSE:TK)
Teekay Corporation is a international provider of marine transportation, shipping services, and energy production. The company operates a diversified fleet of over 200 vessels that provide crude oil, natural gas, and liquefied natural gas transportation services to major oil and gas companies, utilities, and other industries. Teekay also has a majority ownership stake in a number of shipyards, which allows the company to control the construction and delivery of new vessels. In addition to its shipping operations, Teekay owns and operates a number of offshore oil and gas production assets.
Teekay’s market capitalization is $396.28 million as of 2022. The company’s return on equity is -10.2%. Teekay Corporation is a international provider of marine transportation, shipping services, and energy production. The company operates a diversified fleet of over 200 vessels that provide crude oil, natural gas, and liquefied natural gas transportation services to major oil and gas companies, utilities, and other industries. Teekay also has a majority ownership stake in a number of shipyards, which allows the company to control the construction and delivery of new vessels. In addition to its shipping operations, Teekay owns and operates a number of offshore oil and gas production assets.
Summary
Investors should take note of Teekay Tankers‘ impressive second quarter results for the fiscal year ending August 4, 2023. Total revenue was USD 370.6 million, a significant 52.9% increase from the year prior. These impressive figures signal a strong financial performance for the company, indicating that Teekay Tankers is a worthy investment opportunity for investors looking to diversify their portfolios.
Related Posts
Recent Posts
