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TNK

Teekay Tankers Ltd.

TNK

Teekay Tankers Ltd. • NYSE
$57.67 ▼ -0.76% (-0.44)
Market Cap $1.99 B
52w High $63.71
52w Low $33.35
Dividend Yield 2.00%
P/E 6.4
Volume 260.20K
Outstanding Shares 34.54M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $229.023M ▼ $11.146M ▲ $92.079M ▲ 40.205% ▲ $2.66 ▲ $111.469M ▲
Q2-2025 $232.866M ▲ $6.178M ▲ $62.614M ▼ 26.888% ▼ $1.81 ▼ $83.903M ▼
Q1-2025 $231.639M ▼ $-28.451M ▼ $76.032M ▼ 32.823% ▲ $2.2 ▼ $99.575M ▼
Q4-2024 $351.125M ▲ $-18.873M ▼ $93.111M ▲ 26.518% ▲ $2.38 ▲ $121.397M ▲
Q3-2024 $243.278M $16.828M $58.815M 24.176% $1.7 $82.503M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $797.777M ▲ $2.113B ▲ $181.926M ▼ $1.931B ▲
Q2-2025 $730.719M ▲ $2.06B ▲ $212.18M ▲ $1.847B ▲
Q1-2025 $695.49M ▲ $2.023B ▲ $199.006M ▼ $1.824B ▲
Q4-2024 $534.33M ▲ $1.974B ▲ $217.418M ▲ $1.757B ▲
Q3-2024 $462.851M $1.916B $171.316M $1.745B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $92.079M ▲ $74.873M ▲ $48.363M ▲ $-8.635M ▲ $114.601M ▲ $-53.319M ▼
Q2-2025 $62.614M ▼ $72.441M ▲ $-55.146M ▼ $-42.96M ▼ $-25.665M ▼ $15.044M ▼
Q1-2025 $76.032M ▼ $57.624M ▼ $111.88M ▲ $-8.527M ▲ $160.977M ▲ $51.018M ▼
Q4-2024 $93.111M ▲ $87.568M ▼ $44.017M ▲ $-105.755M ▼ $52.043M ▲ $87.273M ▲
Q3-2024 $58.815M $108.311M $-61.645M $-10.668M $35.998M $44.166M

Revenue by Products

Product Q4-2020Q2-2021Q3-2021Q4-2021
Other revenue
Other revenue
 $10.00M ▲$0 ▼$0 ▲$10.00M ▲
Shiptoship support services Other revenue
Shiptoship support services Other revenue
 $0 ▲$0 ▲$0 ▲$0 ▲
Time Charters Aframax
Time Charters Aframax
 $0 ▲$10.00M ▲$10.00M ▲$10.00M ▲
Time Charters LR2
Time Charters LR2
 $0 ▲$0 ▲$0 ▲$0 ▲
Time Charters Suezmax
Time Charters Suezmax
 $0 ▲$0 ▲$0 ▲$20.00M ▲
Timecharter
Timecharter
 $50.00M ▲$10.00M ▼$10.00M ▲$30.00M ▲
Vessel management Other revenue
Vessel management Other revenue
 $0 ▲$0 ▲$0 ▲$0 ▲
Voyage charters
Voyage charters
 $410.00M ▲$110.00M ▼$110.00M ▲$260.00M ▲
Voyage Charters Aframax
Voyage Charters Aframax
 $0 ▲$20.00M ▲$20.00M ▲$50.00M ▲
Voyage Charters Full Service Lightering
Voyage Charters Full Service Lightering
 $0 ▲$10.00M ▲$10.00M ▲$30.00M ▲
Voyage Charters LR2
Voyage Charters LR2
 $0 ▲$20.00M ▲$20.00M ▲$50.00M ▲
Voyage Charters Suezmax
Voyage Charters Suezmax
 $0 ▲$60.00M ▲$60.00M ▲$140.00M ▲
LNG terminal management consultancy and other Other revenue
LNG terminal management consultancy and other Other revenue
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Earnings have swung from losses earlier in the decade to very strong profits in the last three years, reflecting how leveraged the business is to tanker freight rates. Revenue has grown meaningfully from the pandemic trough, and profitability has improved even more than sales, showing solid cost control and operating discipline. The most recent year shows profits still strong but easing slightly from the prior peak, hinting that margins may be normalizing from exceptionally favorable market conditions. Overall, this is a classic cyclical income statement: very profitable in good shipping markets, but with a history of sharp downturns when conditions weaken.

Balance Sheet

Balance Sheet The balance sheet has been transformed from moderately leveraged to very conservative, with debt brought down sharply and equity built up through retained earnings. Cash levels have risen to a comfortable cushion, giving the company flexibility to handle volatility or fund investments without relying heavily on borrowing. Asset levels have grown in a measured way, suggesting the company has not chased rapid expansion despite recent strong profits. In short, financial risk appears much lower than a few years ago, which is important in a highly cyclical industry.

Cash Flow

Cash Flow Cash generation from day‑to‑day operations has been strong and consistent in the last few years, a clear improvement from the period when the business occasionally burned cash. After only modest spending on the fleet and other capital needs, most of this operating cash has flowed through to free cash flow, giving management options for debt reduction, fleet renewal, or shareholder returns. The relatively light recent investment spending suggests a disciplined approach, but it also means future years could see lumpier outflows if the company accelerates fleet renewal. Overall, the cash profile currently looks robust and supportive of resilience through weaker markets.

Competitive Edge

Competitive Edge Teekay Tankers operates in a commoditized, highly cyclical market, so no one player can fully control pricing; its edge comes from operating efficiency, safety, and reliability rather than brand alone. The company’s focus on fuel‑efficient vessels, optimized dry‑docking, and crew safety tools should help it run ships at lower cost and with fewer disruptions than less advanced competitors. Its strong balance sheet is a strategic asset, allowing it to endure freight‑rate downturns and potentially act when financially weaker rivals are constrained. Still, its fortunes remain closely tied to global oil flows, geopolitics, and shipping supply‑demand, which can all change quickly.

Innovation and R&D

Innovation and R&D Instead of traditional lab‑style R&D, Teekay Tankers invests heavily in digital tools and operational technology to squeeze more efficiency and safety out of its fleet. Systems like cloud‑based dry‑dock planning, propulsion optimization, real‑time crew rest monitoring, and partner dashboards show a practical, data‑driven approach to innovation. These tools can lower fuel use, reduce downtime, and improve transparency for customers and pool partners, reinforcing trust and cost advantages. The company also appears proactive on environmental technologies, which may help it stay ahead of tightening emissions rules and customer expectations, though decarbonization requirements will likely demand ongoing innovation and capital over the coming decade.

Summary

Teekay Tankers has moved from a period of volatility and losses to several years of very strong profitability, using the upturn to clean up its balance sheet and build a sizable cash buffer. Its business remains inherently cyclical and exposed to external forces such as oil demand, trade routes, and shipping capacity, so earnings are unlikely to be smooth over time. On the positive side, low leverage, solid free cash flow, and a focus on efficiency‑boosting technology give it tools to navigate downturns better than in the past. The key watchpoints going forward are how it times and funds fleet renewal, how it adapts to decarbonization rules, and whether it can maintain its operational edge as tanker markets inevitably cycle again.

NEWS

October 29, 2025 · 4:05 PM UTC

Teekay Corporation Ltd. Third Quarter 2025 Update

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October 21, 2025 · 4:05 PM UTC

Teekay Group to Announce Third Quarter 2025 Earnings Results on October 29, 2025

Read more