Scorpio Tankers (STNG) came out with quarterly earnings of $1.03 per share, beating the Zacks Consensus Estimate of $0.71 per share. This compares to earnings of $3.97 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 45.07%. A quarter ago, it was expected that this shipping company would post earnings of $0.49 per share when it actually produced earnings of $0.63, delivering a surprise of 28.57%.Over the last four quarters, the ...

Core Viewpoint - Scorpio Tankers Inc. reported a significant decline in net income for the first quarter of 2025 compared to the same period in 2024, alongside a quarterly cash dividend declaration of $0.40 per share [1][6]. Financial Performance - For the three months ended March 31, 2025, the company had a net income of $58.2 million, or $1.26 basic and $1.22 diluted earnings per share, compared to a net income of $214.2 million, or $4.29 basic and $4.11 diluted earnings per share for the same period in 2024 [2][4]. - Adjusted net income for Q1 2025 was $49.0 million, or $1.06 basic and $1.03 diluted earnings per share, excluding a $9.4 million fair value gain and a $0.3 million loss on debt extinguishment [3]. - Total vessel revenue for Q1 2025 was $213.98 million, down from $391.34 million in Q1 2024, with TCE revenue decreasing to $204.2 million from $389.76 million [27][31]. Revenue and Costs - Average daily TCE revenue decreased to $23,971 per vessel in Q1 2025 from $39,660 in Q1 2024, with the average number of vessels decreasing from 110.9 to 99.0 [27][39]. - Vessel operating costs for Q1 2025 were $70.6 million, down from $78.1 million in Q1 2024, while average daily vessel operating costs increased to $7,924 from $7,743 [27][39]. Dividend Declaration - The Board of Directors declared a quarterly cash dividend of $0.40 per common share, with a payment date set for June 16, 2025 [6]. Debt and Liquidity - As of April 30, 2025, the company had $397.0 million in unrestricted cash and cash equivalents, and $838.2 million of undrawn revolver capacity [15]. - The company has $173.4 million available under its 2023 Securities Repurchase Program [9]. Recent Significant Events - In April 2025, the company entered into a time charter-out agreement for a Handymax product tanker at an average rate of $24,000 per day [12]. - The company redeemed $70.6 million of its Unsecured Senior Notes due 2025 and placed $200.0 million of new senior unsecured bonds due 2030 at a fixed coupon rate of 7.50% [18][17]. Drydock and Off-Hire Update - The company reported drydock activity and estimated off-hire days for Q1 2025, with actual aggregate costs of $24.7 million and 388 off-hire days [23][24].

Core Viewpoint - Scorpio Tankers Inc. is set to release its first quarter 2025 earnings on May 1, 2025, and will host a conference call to discuss the results [1][2]. Group 1: Conference Call Information - The conference call will take place at 9:00 AM Eastern Daylight Time and 3:00 PM Central European Summer Time [2]. - Participants can join the call via the Scorpio Tankers website or through a dedicated webcast link [2]. - A telephonic option is also available with specific dial-in numbers for US/Canada and international participants [3]. Group 2: Company Overview - Scorpio Tankers Inc. specializes in the marine transportation of petroleum products globally [4]. - The company currently owns or finances 99 product tankers, including 38 LR2 tankers, 47 MR tankers, and 14 Handymax tankers, with an average age of 9.1 years [4].

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Company Overview - Scorpio Tankers (STNG) shares increased by 11% to close at $35.36, supported by high trading volume, contrasting with a 19.7% loss over the past four weeks [1] - The company is benefiting from strong fundamentals in the product tanker market, despite facing tariff-related challenges [2] Earnings Expectations - STNG is projected to report quarterly earnings of $0.90 per share, reflecting a year-over-year decline of 77.3%, with revenues expected at $199.9 million, down 48.7% from the previous year [3] - The consensus EPS estimate for STNG has remained unchanged over the last 30 days, indicating stability in earnings expectations [4] Industry Context - Scorpio Tankers operates within the Zacks Transportation - Shipping industry, where another company, Costamare (CMRE), has seen a 1.9% decline in its stock price, with a monthly return of -13.6% [4] - Costamare's consensus EPS estimate has also remained unchanged at $0.48, representing a 23.8% decrease from the previous year [5]

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Core Points - Scorpio Tankers Inc. has filed its Annual Report on Form 20-F for the year ended December 31, 2024, with the Securities and Exchange Commission [1] - The report includes the Company's complete audited financial statements for 2024, which can be accessed on the Company's website [2] - Scorpio Tankers operates a fleet of 99 product tankers, including 38 LR2 tankers, 47 MR tankers, and 14 Handymax tankers, with an average age of 9 years [3] Company Overview - Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide [3] - The Company is headquartered in Greenwich, CT, and offers hard copies of its Annual Report upon request [2] - Additional information about the Company is available on its website [3]

Debt and Financing - As of December 31, 2024, the company had $878.1 million in interest-bearing debt[175]. - In January 2025, the company placed $200.0 million of new senior unsecured bonds due in January 2030 with a fixed coupon rate of 7.50% per annum[185]. - In February 2025, the company executed a revolving credit facility of up to $500.0 million, bearing interest at SOFR plus a margin of 1.85% per annum[187]. - The company redeemed $70.6 million of Unsecured Senior Notes due 2025 in March 2025[186]. - The company is in compliance with the financial covenants in its debt agreements as of December 31, 2024[180]. - The company may face restrictions on paying dividends or incurring additional indebtedness due to its debt and lease financing agreements[182]. Revenue and Growth - The company reported a revenue of $4.9 billion for Q3 2023, representing a 15% year-over-year increase[193]. - The company provided guidance for Q4 2023, expecting revenue between $5.1 billion and $5.3 billion, indicating a potential growth of 8% to 12%[193]. - New product launches are anticipated to contribute an additional $200 million in revenue in the next quarter[193]. - The company reported a revenue of $999 million for the quarter, maintaining a steady performance compared to previous periods[1]. - The company provided a future outlook with a revenue guidance of $1.2 billion for the next quarter, indicating a projected growth of 20%[1]. User and Market Expansion - User data showed a growth of 10 million active users, bringing the total to 150 million users[193]. - User data showed an increase in active users, reaching 8.2 million, which represents a growth of 5% year-over-year[1]. - The company is expanding its market presence in Asia, targeting a 15% increase in market share by the end of the fiscal year[1]. - Market expansion efforts include entering three new international markets by the end of 2023[193]. Operational Performance - The company reported a gross margin of 45%, up from 42% in the previous year[193]. - Operating expenses increased by 5% year-over-year, primarily due to higher marketing costs[193]. - The company operates a total of 7,092,312 vessels, with various time charters generating average daily rates ranging from $21,000 to $47,000[195]. - The average daily rate for time charters varies, with some vessels having options to extend at rates between $22,500 and $36,750 per day[195][196]. - The company participates in commercial pools to enhance vessel utilization, with 83 vessels operating in Scorpio Pools as of March 20, 2025[198]. Fleet and Chartering Strategy - As of March 20, 2025, the company's fleet consisted of 99 wholly owned or leased financed tankers with a weighted average age of approximately 9.0 years[183]. - The company’s chartering strategy includes a mix of time charters and spot market operations to optimize revenue based on market conditions[197]. - The charterer of STI Gratitude extended the time charter-out agreement for an additional year at $31,000 per day starting in May 2025[190]. - As of December 31, 2024, 16 vessels are on long-term charter-out agreements with terms of three years or greater, providing stable cash flow[199]. Financial Performance - Net income for the year ended December 31, 2024, was $668.77 million, an increase of $121.88 million or 22% from $546.90 million in 2023[375]. - Vessel revenue for the year ended December 31, 2024, was $1,243.95 million, a decrease of $97.27 million or 7% compared to $1,341.22 million in 2023[375]. - Financial expenses decreased by 40% to $109.54 million from $183.23 million in 2023[375]. - The gain on sales of vessels increased dramatically by 1,369% to $176.54 million compared to $12.02 million in 2023[375]. - General and administrative expenses rose by 14% to $121.05 million from $106.26 million in 2023[375]. Environmental and Regulatory Compliance - The company aims to achieve net zero emission shipping services by 2030 and has signed the Call to Action for Shipping Decarbonization[274]. - The company is committed to responsible ship recycling in accordance with the Hong Kong Convention and the IMO Convention for the Safe and Environmentally Sound Recycling of Ships[274]. - The company is subject to significant expenses for compliance with international and national environmental regulations, which may impact profitability[275]. - The EU aims to reduce net greenhouse gas emissions by at least 55% by 2030, impacting compliance and administration costs for shipping companies[325]. - The International Maritime Organization's strategy includes reducing total annual GHG emissions from international shipping by at least 20% by 2030 compared to 2008 levels[330]. Insurance and Risk Management - The company maintains pollution liability coverage insurance of $1 billion per incident for each vessel, which may increase to approximately $8.2 billion in case of 'overspill' claims[318]. - The current protection and indemnity insurance coverage for pollution is $1 billion per vessel per incident, with the International Group's Pool providing a mechanism for sharing claims exceeding $10 million up to approximately $3.1 billion[344]. - The company maintains hull and machinery insurance, protection and indemnity insurance, and war risk insurance to mitigate operational risks[343]. Strategic Investments and R&D - The company is investing $300 million in R&D for new technologies aimed at enhancing user experience[193]. - The company completed a strategic acquisition of a smaller tech firm for $150 million to bolster its product offerings[193]. - The company is exploring potential acquisitions to strengthen its portfolio, with a budget of $500 million allocated for strategic investments[1].

Risks and uncertainties include, but are not limited to, the failure of counterparties to fully perform their contracts with Scorpio, the strength of world economies and currencies, general market conditions, including fluctuations in charter hire rates and vessel values, changes in demand in the tanker vessel markets, changes in Scorpio's operating expenses, including bunker prices, drydocking and insurance costs, the fuel efficiency of our vessels, the market for Scorpio's vessels, availability of financi ...

Scorpio Tankers Inc. (NYSE:STNG) Q4 2024 Earnings Conference Call February 13, 2025 9:00 AM ET Company Participants James Doyle - Head, Corporate Development & Investor Relations Emanuele Lauro - Chief Executive Officer Robert Bugbee - President Chris Avella - Chief Financial Officer Cameron Mackey - Chief Operating Officer Lars Dencker Nielsen - Chief Commercial Officer Conference Call Participants Omar Nokta - Jefferies Jon Chappell - Evercore ISI Ken Hoexter - Bank of America Greg Lewis - BTIG Ben Nolan ...