Heading into today, shares of the oil and gas shipping company had lost 8.66% over the past month, lagging the Transportation sector's loss of 5.79% and the S&P 500's gain of 3.71% in that time. For the annual period, the Zacks Consensus Estimates anticipate earnings of $14.67 per share and a revenue of $867.54 million, signifying shifts of +1.38% and -2.53%, respectively, from the last year. The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperf ...

Group 1 - Teekay Tankers has an average brokerage recommendation (ABR) of 1.00, indicating a Strong Buy, with all four brokerage firms recommending Strong Buy [1] - The Zacks Consensus Estimate for Teekay Tankers for the current year remains unchanged at $14.67 [5] - The Zacks Rank for Teekay Tankers is 3 (Hold), reflecting a cautious outlook despite the Strong Buy ABR [12] Group 2 - Brokerage recommendations are often influenced by the vested interests of the firms, leading to a potential bias in ratings [13][15] - The ABR is based solely on broker recommendations, while the Zacks Rank incorporates earnings estimate revisions, which are more timely indicators of stock performance [3][16] - Analysts' steady views on earnings prospects, as indicated by the unchanged consensus estimate, suggest the stock may perform in line with the broader market [17]

The the stock of oil and gas shipping company has risen by 2.67% in the past month, leading the Transportation sector's loss of 2.76% and undershooting the S&P 500's gain of 3.51%. Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system. The Transportation - Shipping industry is part of the Transportation secto ...

a downward trend. Shares of TNK have been moving higher over the past four weeks, up 13.7%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that TNK could be poised for a continued surge. Once investors consider TNK's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 2 raised estimates, for the current fiscal year, and the consensus estimate has increased as well. Given this move in earnin ...

Most of us have heard the dictum "the trend is your friend." And this is undeniably the key to success when it comes to short-term investing or trading. But it isn't easy to ensure the sustainability of a trend and profit from it. The trend often reverses before exiting the trade, leading to a short-term capital loss for investors. So, for a profitable trade, one should confirm factors such as sound fundamentals, positive earnings estimate revisions, etc. that could keep the momentum in the stock alive. Our ...

Kevin Mackay - President and Chief Executive Officer Stewart Andrade - Chief Financial Officer Christian Waldegrave - Director of Research and Commercial Performance Operator Unidentified Company Representative I will now turn the call over to Kevin Mackay, Teekay Tankers' President and CEO, to begin. Moving to our recent highlights on Slide 3 of the presentation. Teekay Tankers' generated total adjusted EBITDA of $151 million up from the $127 million we generated last quarter. The company reported adjusted ...

Forward-Looking Statements The following factors are among those that could cause actual results to differ materially from the forward-looking statements, which involve risks and uncertainties, and that should be considered in evaluating any such statement: potential changes to or termination of the Company's capital allocation plan or dividend policy; the declaration by the Company's Board of Directors of any future cash dividends on the Company's common shares; the Company's available cash and the levels ...

SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Table of Contents UNITED STATES _________________________________________________________ FORM 20-F _________________________________________________________ (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) or (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) ...

Financial Data and Key Metrics - Teekay Tankers reported adjusted net income of $500 5 million or $14 65 per share for 2023, more than double the 2022 earnings and setting a new record for the company [41] - The company generated over $575 million of free cash flow in 2023, allowing it to transform its balance sheet and repurchase 19 vessels from sale-leaseback arrangements [24] - Teekay Tankers declared a cash dividend of $0 25 per share for Q4 2023, in line with its fixed quarterly dividend policy [4] - The company ended 2023 with a net cash position of $226 million and expects to be completely debt-free by the end of Q1 2024 [25] Business Line Data and Key Metrics - Midsize spot tanker rates averaged around $48,500 per day in 2023, the highest in Teekay Tankers' history [5] - Q1 2024 Suezmax and Aframax size vessel bookings averaged approximately $50,100 and $50,900 per day, respectively, based on 68% and 67% of revenue days booked [18] - The company sold two 2004-built Aframaxes in Q4 2023 for total proceeds of $46 5 million, recording a gain on sale of $10 4 million in December and an expected gain of approximately $11 5 million in Q1 2024 [9] Market Data and Key Metrics - Global oil demand grew by approximately 1 9 million barrels per day in 2023, reaching a record high of around 101 million barrels per day, surpassing pre-pandemic levels [10] - Tanker demand was boosted by longer voyage distances due to the EU's ban on Russian crude oil imports and the G7's price cap, with over 90% of Russian crude oil exports moving long haul to India and China [11] - Global oil demand is projected to grow by around 1 4 million barrels per day in 2024 and 1 3 million barrels per day in 2025, reaching 103 7 million barrels per day by the end of 2025 [12] Company Strategy and Industry Competition - Teekay Tankers' strategy focuses on maintaining a strong cash position for fleet reinvestment and rewarding shareholders through capital allocation tools, including dividends and share buybacks [64][67] - The company expects the tanker market to remain strong for the next two to three years, supported by robust supply and demand fundamentals [26] - The expansion of the Trans Mountain pipeline to Vancouver, Canada, is expected to create significant Aframax demand, with up to 30-35 Aframax loadings per month once the pipeline is operational [22][95] Management Commentary on Operating Environment and Future Outlook - Management highlighted the positive outlook for tanker fleet supply, with minimal growth expected over the next two to three years due to a small order book and limited shipyard capacity [13][35] - The rerouting of cargoes due to disruptions in the Red Sea and Panama Canal is expected to create additional tanker demand and rate volatility in the near term [14][15][38] - Management remains confident in the company's ability to capture upside and realize shareholder value, given its midsize tanker focus and spot market strategy [33] Other Important Information - Teekay Tankers achieved 99 8% fleet availability and zero lost time injuries in 2023, emphasizing the importance of crew safety and operational reliability [25] - The company's chartered-in fleet has a current mark-to-market value of approximately $60 million, in addition to its owned fleet [18] Q&A Session Summary Question: What is the company's capital allocation strategy moving forward? - The company plans to continue building financial strength for fleet reinvestment while balancing capital returns to shareholders through dividends and potential special dividends [64][67][90] Question: How does the company view the current tanker market and its impact on rates? - Management expects the tanker market to remain strong, with demand growth outstripping fleet supply growth, leading to high fleet utilization and firm rates, albeit with periods of volatility [12][35][58] Question: What are the company's plans for fleet renewal and reinvestment? - Teekay Tankers is open to various opportunities, including small or large acquisitions, fleet dispositions, and exiting individual ship assets, depending on what creates the most value for shareholders [68][70][72] Question: How does the company view the impact of the Trans Mountain pipeline expansion? - The expansion is expected to create significant Aframax demand, with up to 30-35 Aframax loadings per month, potentially benefiting the midsize tanker market [22][95] Question: What is the company's breakeven level after final debt repayment? - The breakeven level is expected to be between $15,500 and $16,000 per day, including all CapEx and maintenance costs [89]

As voyages agreed during the latter part of Q3 and early October are completed and replaced by those reflecting the more recent higher spot market, we expect our own spot rate results to strengthen as we move further through the quarter, provided rates remain firm. Importantly, I would highlight the value being created by TNK's eight-vessel chartered-in fleet, with six trading in the strong spot market with an average in-charter rate of $25,400 per day. The chartered-in fleet has a current mark-to-market va ...