Note: I previously covered Scorpio Tankers (NYSE: STNG ) in February. In the article, I discussed the product tankers market and the company’s merits. STNG was perfectly positioned with its relatively young fleet equipped with scrubbers. Scorpio's NAV was valued at $3,771 million atI am a voracious reader and self-taught investor. In the past, I was an accountant in the maritime industry. Now, I am a happy retiree passionate about writing and financial markets. As the kids are grown up, I have time to pursu ...

Core Viewpoint - Scorpio Tankers (NYSE: STNG) stock has shown impressive growth of over 43% in the past year, yet it is considered to be even more undervalued now compared to a few months ago [1]. Company Analysis - The business of Scorpio Tankers continues to demonstrate strong fundamentals, indicating potential for further growth despite the recent stock performance [1]. Investment Insights - Beyond the Wall Investing offers a range of features including a fundamentals-based portfolio, weekly analysis from institutional investors, and alerts for short-term trade ideas based on technical signals, which can aid investors in making informed decisions [1].

MONACO, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE:STNG) ("Scorpio Tankers," or the "Company") announced today that it has entered into an agreement to sell its 2019 built LR2 product tanker, STI Lily. The sale price is $73.5 million and the sale is expected to close within the fourth quarter of 2024. About Scorpio Tankers Inc. Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers Inc. currently owns or lease finances 102 product tanke ...

Core Points - Scorpio Tankers Inc. announced that its President, Robert Bugbee, purchased call options on 234,300 common shares for a total of $1.5 million, with a strike price of $67.50 and expiration in January 2025 [1] Company Overview - Scorpio Tankers Inc. is a global provider of marine transportation for petroleum products, owning or leasing 102 product tankers, including 39 LR2, 49 MR, and 14 Handymax tankers, with an average age of 8.4 years [2] - The company has agreements to sell two MR tankers, expected to close in the fourth quarter of 2024 [2]

Core Points - Scorpio Tankers Inc. has announced the sale of two vessels and a new time charter-out agreement [1] Vessel Sales - The company has entered into agreements to sell two MR product tankers, STI San Antonio and STI Texas City, built in 2014, for $42.5 million each, with expected closure in Q4 2024 [2] Time Charter-Out Agreement - A three-year time charter-out agreement has been established for the 2018 built MR product tanker, STI Jardins, at a rate of $29,550 per day, with the charter expected to commence in Q3 or Q4 2024 [3] Company Overview - Scorpio Tankers Inc. operates a fleet of 104 product tankers, including 39 LR2, 51 MR, and 14 Handymax tankers, with an average age of 8.5 years. The company has agreements to sell four MR tankers, expected to close in Q3 and Q4 2024 [4]

Core Thesis - The bullish thesis on Scorpio Tankers (STNG) remains intact, driven by elevated product rates due to increased ton-mile demand following the EU ban on Russian products and the Red Sea crisis [2][20]. Financial Performance - In 2Q24, STNG reported revenues of $381 million, a 16% increase year-over-year but a 3% decrease sequentially. TCE revenue was $373 million, down 4% quarter-over-quarter but up 14% year-over-year [4][20]. - Operating income for 2Q24 was $254 million, reflecting a 411% increase year-over-year [4]. - Net income attributable to shareholders was $227 million, a 72% increase year-over-year, with diluted EPS at $4.3, up 81% from the previous year [4][20]. - Free cash flow (FCF) for 2Q24 was $239 million, an 18% increase year-over-year [7]. Debt Management - STNG repaid nearly $342 million in debt, reducing net debt to $778 million from $1 billion in 1Q24. The net debt to LTM EBITDA ratio is now less than 1x, and the cash break-even level decreased to $12,500 per day [8][20]. Market Dynamics - Ton-mile demand growth is at 7.5% year-to-date, significantly outpacing fleet growth, primarily due to tankers rerouting via the Cape of Good Hope [9][20]. - The recent opening of the Dangote refinery in Africa is expected to impact product tanker ton-mile demand positively and negatively, depending on its production capacity and export capabilities [10][20]. Fleet and Operational Insights - The average TCE rate in 2Q24 was $38,813 per day, down 2% from 1Q24 but up 21% year-over-year [4][20]. - The LR2 and Handymax average TCE rates decreased by 7% and 14% sequentially, while the medium range (MR) rate increased by 5% [4]. - The overall product fleet is aging, with about 20.5% of the fleet being candidates for scrapping by 2026 [12][13]. Valuation and Investment Appeal - STNG's NAV per share is estimated at $82, with shares trading at 0.9x NAV and an attractive FCF yield of 21% [17][21]. - Despite concerns about softer TCE rates and increasing market supply, the fundamentals remain supportive of elevated TCE rates due to ongoing demand drivers [19][20].

AvigatorPhotographer On July 30th, Scorpio Tankers (NYSE:STNG) released its Q2-2024 eamings report, which slightly surpassed analysts' expectations. Consequently, the stock rose by over 3% during the following trading hours, with trading volumes exceeding the average. In this article, I will provide an overview of the Q2-2024 results and explain why I believe Scorpio Tankers-one of the largest product tanker fleet companies in the world-remains a strong buy. Despite its significant market value increase in ...

Disclaimer and Forward-looking Statements 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 ...

Start Time: 09:00 January 1, 0000 9:47 AM ET Scorpio Tankers Inc. (NYSE:STNG) Q2 2024 Earnings Conference Call July 30, 2024, 09:00 PM ET Company Participants Emanuele Lauro - CEO Robert Bugbee - President Cameron Mackey - COO Chris Avella - CFO James Doyle - Head of Corporate Development and IR Conference Call Participants Jon Chappell - Evercore ISI Omar Nokta - Jefferies Ken Hoexter - Bank of America Greg Lewis - BTIG Ben Nolan - Stifle Chris Robertson - Deutsche Bank Frode Mørkedal - Clarkson Securities ...

This quarterly report represents an earnings surprise of 2.27%. A quarter ago, it was expected that this shipping company would post earnings of $3.72 per share when it actually produced earnings of $3.97, delivering a surprise of 6.72%. Scorpio Tankers, which belongs to the Zacks Transportation - Shipping industry, posted revenues of $373.47 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.65%. This compares to year-ago revenues of $327.56 million. The company has toppe ...