Teekay Tankers (TNK) Lags Q3 Earnings and Revenue Estimates

Core Viewpoint - Teekay Tankers reported quarterly earnings of $1.83 per share, missing the Zacks Consensus Estimate of $1.90 per share, and showing a decline from $2.21 per share a year ago, indicating a negative earnings surprise of -3.68% [1] Financial Performance - The company posted revenues of $149.29 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 8.14%, and down from $172.58 million year-over-year [2] - Over the last four quarters, Teekay Tankers has surpassed consensus EPS estimates only once [2] Stock Performance - Teekay Tankers shares have declined approximately 2.6% since the beginning of the year, contrasting with the S&P 500's gain of 22.3% [3] Future Outlook - The company's earnings outlook is crucial for investors, with current consensus EPS estimates at $3.47 on $224.22 million in revenues for the upcoming quarter, and $12.38 on $805.05 million in revenues for the current fiscal year [7] - The estimate revisions trend for Teekay Tankers is currently unfavorable, resulting in a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [6] Industry Context - The Transportation - Shipping industry, to which Teekay Tankers belongs, is currently in the bottom 29% of over 250 Zacks industries, suggesting a challenging environment for the stock [8]