Teekay Corporation Reports Second Quarter 2021 Results
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August 5, 2021 8:19 AM EDT
Teekay LNG Partners (NYSE: TGP) reported Q2 EPS of $0.00, $0.63 worse than the analyst estimate of $0.63. Revenue for the quarter came in at $325.48 million, versus $482.81 million reported last year.
Total adjusted EBITDA(1) of $171.9 million in the second quarter of 2021.Teekay Parent reduced its asset retirement obligation (ARO) associated with the Banff FPSO by approximately $33 million in the second quarter of 2021.Teekay LNGs LNG fleet is 98 percent fixed for the remainder of 2021 and 89 percent fixed for 2022.Teekay Tankers counter-cyclically in-chartered three Aframax-sized vessels for periods of 18 to 24 months, plus...
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August 5, 2021 8:18 AM EDT
Teekay Tankers Ltd (NYSE: TNK) reported Q2 EPS of ($1.23), $0.25 worse than the analyst estimate of ($0.98). Revenue for the quarter came in at $123.42 million versus the consensus estimate of $80.65 million.
CEO Commentary
Crude spot tanker rate weakness persisted in the second quarter of 2021 due to ongoing OPEC+ production cuts resulting from reduced oil demand related to the COVID-19 pandemic, an uneven economic recovery across various geographies, and a concentration of newbuilding deliveries in the first half of 2021, commented Kevin Mackay, Teekay Tankers... More
