Teekay Tankers Ltd. Reports Fourth Quarter and Annual 2015 Results

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Go back to Teekay Tankers Ltd. Reports Fourth Quarter and Annual 2015 Results

Teekay Tankers Ltd (TNK) Misses Q4 EPS by 9c, Comments on Market

February 18, 2016 7:36 AM EST

Teekay Tankers Ltd (NYSE: TNK) reported Q4 EPS of $0.31, $0.09 worse than the analyst estimate of $0.40. Revenue for the quarter came in at $159.3 million versus the consensus estimate of $155.15 million.

Tanker Market

The tanker market in 2015 was the strongest since 2008. The main catalyst for the market strength was continued high levels of global oil production, including an extra 1.0 million barrels per day (mb/d) of crude oil supply from OPEC. Global oil demand was also robust in 2015, growing by 1.7 mb/d, the highest level of growth since the post-financial crisis rebound in 2010. Oil... More