Teekay Tankers Ltd (TNK) Misses Q2 EPS by 5c
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Teekay Tankers Ltd. Reports Second Quarter 2015 Results
August 6, 2015 2:00 AM EDTHAMILTON, 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... MoreTeekay Tankers Agrees to Acquire 12 Modern Suezmax Tankers; Expects Immediate Accretion Upon Delivery
August 5, 2015 8:31 AM EDTHAMILTON, 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... More