Teekay Tankers Ltd (TNK) Misses Q2 EPS by 5c
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August 6, 2015 2:00 AM EDT
HAMILTON, BERMUDA -- (Marketwired) -- 08/06/15 --
Highlights
-- Reported second quarter 2015 adjusted net income attributable to
shareholders(1) of $41.3 million, or $0.35 per share, compared to an
adjusted net loss of $4.1 million, or $0.05 per share, in the same
period of the prior year.
-- Generated second quarter 2015 free cash flow(2) of $57.9 million, or
$0.50 per share.
-- In early-August 2015, agreed to acquire 12 on-the-water modern Suezmax
tankers from Principal Maritime Tankers for an aggregate purchase price
of $662 million.
-- In July 2015, acquired a ship-to-ship transfer business, SPT Inc. for a
purchase price of $45.5 million.
-- Third quarter 2015 crude spot tanker rates have...
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August 5, 2015 8:31 AM EDT
HAMILTON, BERMUDA -- (Marketwired) -- 08/05/15 --
Highlights
-- Agreed to acquire 12 modern Suezmax tankers from Principal Maritime for
$662 million.
-- Acquiring on-the-water vessels, delivering at the right point in the
tanker market cycle to take advantage of the strong spot tanker
market.
-- Accretive to earnings, free cash flow and net asset value per share.
-- Solidifies Teekay Tankers' position as the largest owner and
operator of mid-size crude oil tankers.
-- Reduces average age of Teekay Tankers' fleet by 1.2 years.
-- Acquisition is fully financed and will not materially impact Teekay
Tankers' financial leverage; increases the Company's dividend...
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