Scorpio Tankers Crushing Earnings Expectations in 3Q 2022

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Scorpio Tankers Stock Fair Value – Scorpio Tankers ($NYSE:STNG) Inc. is a leading provider of maritime transportation services. The company transports crude oil and refined petroleum products. Scorpio Tankers Inc. reported earnings for the third quarter of 2022 that beat expectations.

The better-than-expected results were driven by strong demand for maritime transportation services as well as higher freight rates. Scorpio Tankers Inc. is well-positioned to benefit from the continued strong demand for maritime transportation services.

Earnings

Scorpio Tankers Inc. reported its earnings for the third quarter of fiscal year 2022 on September 30. The company earned a total of 1217.0 million dollars in revenue and 326.9 million dollars in net income. This represents a 125.0% increase in total revenue and a 239.5% decrease in net income compared to the previous year. Scorpio Tankers’ total revenue has grown from 915.9 million dollars to 1217.0 million dollars over the past three years.

About the Company

Price History

On Thursday, Scorpio Tankers Inc. stock opened at $50.4 and closed at $52.0, up by 4.1% from last closing price of $49.9. The company reported strong earnings for the third quarter of 2022, crushing expectations. This was thanks to higher revenue and lower expenses. The company is well-positioned to benefit from the continued growth in global demand for crude oil. Live Quote…

VI Analysis – Scorpio Tankers Stock Fair Value

Scorpio Tankers Inc. is an international provider of marine transportation of crude oil and refined petroleum products. The company’s operating segments include Tanker-Operating, Tanker-Newbuilding, and Tanker-Chartering. The Tanker-Operating segment engages in the ownership, operation, and time-chartering of double-hulled tankers. The Tanker-Newbuilding segment acquires newbuilding vessels. The Tanker-Chartering segment secures and manages contracts of affreightment and time charters for the company’s vessels. More…

VI Peers

Scorpio Tankers Inc is one of the largest tanker shipping companies in the world. Founded in 2009, the company is headquartered in Monaco. Scorpio Tankers Inc has a fleet of over 100 tankers and operates in over 30 countries. The company’s main competitors are TORM PLC, Petro Times JSC, and Pilipinas Shell Petroleum Corp.

– TORM PLC ($LTS:0RG4)

In 2022, Dorman Products, Inc. had a market capitalization of $16.22 billion and a return on equity of 17.86%. Dorman Products, Inc. is a leading supplier of original equipment dealer “exclusive” automotive and heavy duty replacement parts, automotive hardware, brake parts, and fasteners to the automotive aftermarket.

– Petro Times JSC ($HNX:PPT)

Pilipinas Shell Petroleum Corporation is a publicly listed company in the Philippines with a market capitalization of 28.95 billion as of 2022. The company is engaged in the business of refining, marketing, and distributing petroleum products in the Philippines. The company has a return on equity of 17.04%.

Summary

Scorpio Tankers Inc. is a publicly traded tanker company that owns and operates crude oil tankers. Scorpio Tankers Inc. is one of the world’s largest tanker companies and operates a modern fleet of crude oil tankers.