Core Viewpoint - Scorpio Tankers Inc. reported a decline in net income for the fourth quarter of 2024 compared to the same period in 2023, alongside a quarterly cash dividend declaration of $0.40 per share [1][11]. Financial Results - For the three months ended December 31, 2024, the company had a net income of $68.6 million, or $1.48 basic and $1.43 diluted earnings per share [2][4]. - Adjusted net income for the same period was $30.3 million, or $0.65 basic and $0.63 diluted earnings per share, excluding specific gains and losses [3]. - In comparison, for the three months ended December 31, 2023, the company reported a net income of $120.9 million, or $2.43 basic and $2.34 diluted earnings per share [4][5]. Yearly Performance - For the year ended December 31, 2024, the company reported a net income of $668.8 million, or $13.78 basic and $13.15 diluted earnings per share [6]. - Adjusted net income for the year was $512.9 million, or $10.57 basic and $10.08 diluted earnings per share, after excluding certain gains and losses [7]. - In contrast, for the year ended December 31, 2023, the company had a net income of $546.9 million, or $10.44 basic and $10.03 diluted earnings per share [8][9]. Revenue and Operating Metrics - The average daily Time Charter Equivalent (TCE) revenue for the fourth quarter of 2024 was $21,978 per vessel, down from $32,949 per vessel in the same quarter of 2023 [34]. - TCE revenue for the fourth quarter of 2024 decreased by $141.9 million to $192.1 million, compared to $334.1 million in the fourth quarter of 2023 [34]. - The average number of vessels was 100.9 in Q4 2024, down from 111.5 in Q4 2023, contributing to the decline in revenue [34]. Dividend Declaration - The Board of Directors declared a quarterly cash dividend of $0.40 per common share, payable on March 21, 2025, to shareholders of record as of March 7, 2025 [11]. Debt and Financing Activities - In January 2025, the company successfully placed $200 million of new senior unsecured bonds due in January 2030, with a fixed coupon rate of 7.50% per annum [12][25]. - The company executed a $500 million revolving credit facility in February 2025, providing flexibility for future financing needs [27]. - As of February 11, 2025, the company had $530.5 million in unrestricted cash and cash equivalents, along with $788.2 million of undrawn revolver capacity [20]. Share Repurchase Program - From October 1, 2024, to February 12, 2025, the company repurchased 658,125 common shares at an average price of $59.33 per share, with $173.5 million remaining under the 2023 Securities Repurchase Program [14].

Core Viewpoint - Scorpio Tankers (STNG) is expected to report a year-over-year decline in earnings due to lower revenues, with the consensus outlook indicating a significant drop in both earnings and revenues for the quarter ended December 2024 [1][3]. Earnings Expectations - The upcoming earnings report is anticipated to be released on February 13, 2025, with an expected EPS of $0.71, reflecting a year-over-year decrease of 74.2% [3]. - Revenues are projected to be $196.69 million, down 41.1% from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised down by 34.06% over the last 30 days, indicating a bearish sentiment among analysts regarding the company's earnings prospects [4][10]. - Scorpio Tankers currently has an Earnings ESP of -38.78%, suggesting that analysts have lowered their expectations significantly [11]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that the Most Accurate Estimate is lower than the Zacks Consensus Estimate, which may lead to a negative earnings surprise [10][11]. - Historically, Scorpio Tankers has beaten consensus EPS estimates in the last four quarters, with a surprise of +8.70% in the most recent quarter [12][13]. Industry Comparison - Another company in the shipping industry, Danaos (DAC), is expected to report earnings of $6.52 per share for the same quarter, indicating a year-over-year change of -6.7% [17]. - Danaos has an Earnings ESP of 0.00% and a Zacks Rank of 3 (Hold), making it difficult to predict an earnings beat [18].

Earnings Announcement and Conference Call - Scorpio Tankers Inc plans to release its Q4 2024 earnings on February 13, 2025, followed by a conference call at 9:00 AM EST and 3:00 PM CET [1] - The conference call will be accessible via webcast on the company's website and telephonically with US/Canada and international dial-in numbers provided [2][3] - Participants are advised to register for the webcast or dial in 10 minutes before the scheduled start time [2][3] Company Overview - Scorpio Tankers Inc is a global provider of marine transportation for petroleum products [4] - The company owns or lease finances 99 product tankers, including 38 LR2 tankers, 47 MR tankers, and 14 Handymax tankers, with an average age of 8.9 years [4] Forward-Looking Statements - The press release contains forward-looking statements regarding the company's plans, objectives, strategies, and future performance [5] - These statements are based on management's assumptions, including historical operating trends and third-party data, but are subject to uncertainties and contingencies beyond the company's control [6] - The company undertakes no obligation to update or revise forward-looking statements unless required by law [7] Potential Factors Affecting Performance - Actual results may differ from forward-looking statements due to unforeseen liabilities, capital expenditures, revenues, expenses, and economic performance [8] - Other factors include changes in demand for petroleum products, charter rates, vessel values, operating expenses, financing availability, and regulatory changes [8] - Geopolitical conditions, such as conflicts in Ukraine and the Middle East, and potential disruptions to shipping routes may also impact the company's performance [8]

Group 1 - Scorpio Tankers Inc. has successfully placed USD 200 million of new senior unsecured bonds in the Nordic bond market, with a maturity date in January 2030 and a fixed coupon of 7.5% per annum, payable semi-annually [1][2] - The net proceeds from the bond issue will be used to refinance existing senior unsecured notes amounting to USD 70.6 million and for general corporate purposes [2] - Scorpio Tankers Inc. operates a fleet of 99 product tankers, including 38 LR2 tankers, 47 MR tankers, and 14 Handymax tankers, with an average age of 8.8 years [3]

Core Viewpoint - Scorpio Tankers Inc. is planning to arrange a series of fixed income investor calls starting January 13, 2025, potentially leading to a five-year USD denominated senior unsecured bond issue, subject to market conditions [1] Group 1: Bond Issue Details - The net proceeds from the proposed bond issue are intended for refinancing existing 7.0% senior unsecured notes due June 30, 2025, with an outstanding principal balance of USD 70.6 million, and for general corporate purposes [2] - The senior unsecured bonds, if issued, will be offered only to qualified institutional buyers in the United States under Rule 144A of the Securities Act of 1933, and will not be registered under the Securities Act or any state securities laws [3] Group 2: Company Overview - Scorpio Tankers Inc. is a provider of marine transportation of petroleum products globally, currently owning or leasing 99 product tankers, including 39 LR2 tankers, 46 MR tankers, and 14 Handymax tankers, with an average age of 8.8 years [4]

Core Insights - Capital Link is hosting a series of online Company Presentations featuring senior management teams from leading listed maritime companies to discuss business development, strategy, growth prospects, and sector outlook [1] Group 1: Event Details - The Company Presentation Series will include online attendance that is complimentary, with registration available through a provided link [2] - Each session will last no more than 45 minutes, consisting of a company slide presentation followed by a live Q&A session [2] - Institutional investors can request one-on-one meetings with company management via email [2] Group 2: Q&A and Interaction - Questions for the Q&A session can be submitted during the webinar or via email prior to the start of the session [3] Group 3: Company Information - Capital Link, founded in 1995, provides Investor & Public Relations and Media services to listed and private companies, and organizes industry and investment conferences annually [4] - Capital Link is a data partner of the Baltic Exchange and has a presence in New York City, London, Athens, and Oslo [4] Group 4: Upcoming Presentations - Scorpio Tankers Inc. (NYSE: STNG) will present on January 7, 2025, at 11:00 AM ET, followed by International Seaways, Inc. (NYSE: INSW) on January 9, 2025, at 10:00 AM ET [6]

Core Insights - The article reflects on a personal journey of self-discovery and the relationship with financial markets, emphasizing the importance of timing in maximizing impact [1] - The author views life as a long-term investment, akin to a call option with a maturity of approximately 100 years, and acknowledges the volatility experienced during the pandemic as a valuable lesson [1] - The narrative suggests that personal growth and learning from direct experiences are more significant than comparing financial returns with others or indices [1] Group 1 - The transition from urban life in Toronto to living in a self-built yurt in the boreal forest represents a shift towards self-sufficiency and a deeper connection with nature [1] - The author expresses that comfort and entertainment can diminish the value of human life, advocating for embracing volatility as a means of personal growth [1] - The journey into the woods is framed as a spiritual quest, with the author seeking to live deliberately and learn essential life lessons [1] Group 2 - Writing is highlighted as a crucial part of the research process, with the intention to share insights with a broader audience beyond a select few [1] - The article includes philosophical reflections on the nature of life and material wealth, referencing biblical verses to illustrate the importance of spiritual over material treasures [1] - The author draws inspiration from Thoreau's "Walden," emphasizing the desire to live deeply and authentically, avoiding a life of mere existence [1]

MONACO, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE:STNG) ("Scorpio Tankers," or the "Company") announced today that it has received commitments from a group of financial institutions for a revolving loan of up to $500.0 million (the “Revolving Credit Facility”).  The Revolving Credit Facility is a 100% revolving loan, which has a final maturity of seven years from the signing date and gives the Company the flexibility to draw down or repay the loan during the loan tenor. The Revolving Cred ...

Financial Performance - For Q3 2024, Scorpio Tankers reported a net income of $158.7 million, translating to $3.31 basic and $3.16 diluted earnings per share, compared to a net income of $100.4 million in Q3 2023[2] - Adjusted net income for Q3 2024 was $87.7 million, or $1.83 basic and $1.75 diluted earnings per share, while in Q3 2023 it was $99.2 million, or $1.99 basic and $1.91 diluted earnings per share[2] - For the nine months ended September 30, 2024, net income reached $600.2 million, or $12.18 basic and $11.62 diluted earnings per share, up from $426.0 million in the same period of 2023[3] - The Company recorded a net income of $158.7 million for Q3 2024, up from $100.4 million in Q3 2023, representing a 57.8% increase[21] - Net income for the nine months ended September 30, 2024, was $600,217,000, compared to $426,008,000 for the same period in 2023, representing a 41% increase[31] - Basic earnings per share for Q3 2024 was $3.31, up from $2.01 in Q3 2023, reflecting a 65% increase[26] Dividends and Shareholder Returns - The Company declared a quarterly cash dividend of $0.40 per common share, with a payment date set for December 13, 2024[4] - The company declared dividends of $0.20, $0.25, $0.25, and $0.35 per common share in March, June, September, and December 2023 respectively, and $0.40 per common share in March, June, and September 2024[45][47] Revenue and Operating Metrics - TCE revenue for Q3 2024 decreased by $31.0 million to $258.2 million compared to $289.2 million in Q3 2023, a decline of approximately 10.7%[21] - Average daily Time Charter Equivalent (TCE) revenue for LR2 vessels in Q3 2024 was $38,011, while for MR vessels it was $25,146[6] - The average daily TCE revenue increased to $28,488 per vessel in Q3 2024, up from $28,313 per vessel in Q3 2023, reflecting a 0.6% increase[21] - Vessel revenue for Q3 2024 was $267,986,000, a decrease of 8% from $291,179,000 in Q3 2023[26] - Operating income increased to $171,061,000 in Q3 2024, up 21% from $141,409,000 in Q3 2023[26] Costs and Expenses - Vessel operating costs rose by $1.8 million to $80.9 million in Q3 2024, with average daily costs increasing to $8,395 per vessel from $7,669 per vessel in Q3 2023[21] - Financial expenses decreased by $28.8 million to $20.9 million in Q3 2024, primarily due to reduced interest expenses from deleveraging efforts[23] - Average TCE per revenue day for MR vessels decreased to $24,823 in Q3 2024 from $28,587 in Q3 2023, a decline of 13.5%[34] - Average TCE per revenue day for Handymax vessels decreased to $19,605 in Q3 2024 from $22,875 in Q3 2023, a decline of 14.9%[34] Debt and Financial Position - The Company repaid $64.2 million on its BNPP Sinosure Credit Facility during Q3 2024, which was collateralized by five vessels[8] - The Company amended its 2023 $225.0 Million Credit Facility to a revolving credit facility, with $174.2 million outstanding as of October 25, 2024[16] - Total gross debt outstanding decreased from $1.002 billion to $895.9 million from June 30, 2024, to October 25, 2024[18] - Estimated future principal repayments total $919.6 million, including $70.6 million due in Q2 2025[18] Investments and Asset Management - Scorpio Tankers entered into an agreement to sell the LR2 product tanker STI Lily for $73.5 million, expected to close in Q4 2024[6] - The Company invested $89.1 million for a 4.9% minority interest in DHT Holdings Inc., reflecting a positive outlook in the crude tanker sector[6] - The company reported a net gain on sales of vessels of $123,961,000 for the nine months ended September 30, 2024[31] - The company has entered into agreements to sell three vessels, which are expected to close in the fourth quarter of 2024[48] Fleet and Operational Capacity - The total fleet DWT (Deadweight Tonnage) is 7,302,292 tons, consisting of 102 product tankers, including 39 LR2 tankers, 49 MR tankers, and 14 Handymax tankers[48] - The average age of the fleet is 8.6 years, indicating a relatively modern fleet[48] - Average number of vessels in operation decreased to 104.8 in Q3 2024 from 112.1 in Q3 2023[34] - The company has successfully maintained a diverse range of vessel types, including MR and LR2 categories, to meet varying market demands[40] Market Strategy and Future Outlook - The company is focusing on expanding its market presence with new vessels like STIM Aesthetic and STIM Mighty, both built in 2020[40] - The company is exploring new strategies for market expansion, particularly with the introduction of innovative vessel designs[40] - The company anticipates future growth and expansion, although specific projections are subject to uncertainties[55] - The company is focused on managing risks related to market conditions, operational expenses, and geopolitical factors affecting its business[57]

Core Insights - Scorpio Tankers reported quarterly earnings of $1.75 per share, exceeding the Zacks Consensus Estimate of $1.61 per share, but down from $1.91 per share a year ago, indicating an earnings surprise of 8.70% [1] - The company generated revenues of $258.2 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 4.69% and down from $289.19 million year-over-year [2] - Scorpio Tankers has surpassed consensus EPS estimates four times over the last four quarters and topped revenue estimates three times during the same period [2] Earnings Outlook - The sustainability of Scorpio Tankers' stock price movement will largely depend on management's commentary during the earnings call and future earnings expectations [3][4] - The current consensus EPS estimate for the upcoming quarter is $2.02 on revenues of $281.97 million, while for the current fiscal year, the estimate is $11.46 on revenues of $1.32 billion [7] Industry Context - The Transportation - Shipping industry, to which Scorpio Tankers belongs, is currently ranked in the bottom 27% of over 250 Zacks industries, which may negatively impact stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that investors should monitor these revisions closely [5][6]