Core Viewpoint - Scorpio Tankers Inc. reported a net income of $84.5 million for Q3 2025, a significant decrease from $158.7 million in Q3 2024, attributed to lower Time Charter Equivalent (TCE) revenue and changes in market conditions [2][4][39]. Financial Performance - For the three months ended September 30, 2025, the company had a net income of $84.5 million, translating to $1.81 basic and $1.73 diluted earnings per share [2][4]. - Adjusted net income for the same period was $72.7 million, or $1.56 basic and $1.49 diluted earnings per share, excluding a fair value gain and a loss on debt extinguishment [3]. - In comparison, for Q3 2024, the company reported a net income of $158.7 million, or $3.31 basic and $3.16 diluted earnings per share [4]. Revenue and Expenses - TCE revenue for Q3 2025 was $232.9 million, down from $258.2 million in Q3 2024, reflecting a decrease of $25.3 million [39]. - Average daily TCE revenue decreased to $26,231 per vessel in Q3 2025 from $28,488 per vessel in Q3 2024 [39]. - Vessel operating costs decreased to $74.3 million in Q3 2025 from $80.9 million in Q3 2024, driven by a reduction in the average number of vessels [39]. Dividend Declaration - The Board of Directors declared a quarterly cash dividend of $0.42 per common share, with a payment date set for December 5, 2025 [10]. Debt and Liquidity - As of October 28, 2025, the company had $626.7 million in unrestricted cash and cash equivalents, along with $788.3 million of undrawn revolver capacity [20]. - The company reached agreements for unscheduled prepayments totaling $154.6 million on certain secured credit facilities, expected to occur in Q4 2025 [33]. Recent Transactions - The company entered into a time charter-out agreement for an LR2 product tanker at a rate of $35,000 per day and sold two scrubber-fitted LR2 product tankers for $61.2 million each [14]. - The company sold 4,778,000 common shares of DHT Holdings Inc. at an average price of $12.50 per share during Q3 2025 [14].

Core Points - Scorpio Tankers Inc. reported a net income of $73.5 million for the three months ended June 30, 2025, a significant decrease from $227.3 million in the same period of 2024 [2][4][36] - The company declared a quarterly cash dividend of $0.40 per share, with a payment date set for August 29, 2025 [10] - Adjusted net income for the second quarter of 2025 was $67.8 million, down from $188.4 million in the same quarter of 2024 [3][5] Financial Performance - For the six months ended June 30, 2025, the company reported a net income of $131.7 million, compared to $441.5 million for the same period in 2024 [6][8] - The average daily Time Charter Equivalent (TCE) revenue decreased to $25,569 per vessel in Q2 2025 from $38,813 in Q2 2024, reflecting a decline in market conditions [36][37] - Total vessel revenue for Q2 2025 was $230.2 million, down from $380.7 million in Q2 2024, with TCE revenue dropping by $150.7 million year-over-year [36] Operational Highlights - The average number of vessels operated decreased to 99.0 in Q2 2025 from 108.7 in Q2 2024, contributing to lower revenues [36] - The company entered into a bareboat charter-out agreement for the MR product tanker STI Bosphorus at a rate of $13,150 per day, expected to commence in August 2025 [24] - Scorpio Tankers has exercised purchase options on three vessels, with scheduled purchases in December 2025 and February 2026 [26][27] Liquidity and Debt Management - As of July 28, 2025, the company had $472.7 million in unrestricted cash and cash equivalents, along with $833.7 million of undrawn revolver capacity [20] - The company prepaid $12.65 million on its 2023 $1.0 Billion Credit Facility in July 2025, which included both term and revolving portions [25][29] - The total outstanding debt as of June 30, 2025, was $924.4 million, with a net debt of $453.3 million after accounting for cash and cash equivalents [23]