HAMILTON, Bermuda, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Teekay Corporation Ltd. (Teekay or the Company) (NYSE:TK) today reported results for the three months ended September 30, 2024. The full earnings release and Teekay Group's earnings presentation are available on the Company's website here. Special Dividend The Company's Board of Directors declares a one-time special cash dividend in the amount of $1.00 per outstanding common share. This dividend is payable on December 18, 2024 to all Teekay shareholders o ...

HAMILTON, Bermuda, Oct. 22, 2024 (GLOBE NEWSWIRE) -- Teekay Corporation Ltd. (Teekay) (NYSE:TK) and Teekay Tankers Ltd. (Teekay Tankers) (NYSE:TNK) (collectively, the Teekay Group) plan to release their financial results for the third quarter of 2024 after market close on Wednesday, October 30, 2024. Teekay Group plans to host a conference call on Thursday, October 31, 2024 at 11:00 a.m. (ET) to discuss its results for the third quarter of 2024. All shareholders and interested parties are invited to listen ...

A STORE D THING L TH 0 4 TIP H 4 Holly 4 17 l I HeliRy Note: I have covered Teekay Corporation (NYSE:TK) previously, so investors should view this as an update to my earlier articles on the company. Two months ago, I downgraded shares of Teekay Corporation after a major rally in the shares had narrowed the discount to net asset value ("NAV") considerably. Since that time, the company's stock price has decreased by more than 20% mostly due to weakness in shares of its main consolidated subsidiary Teekay Tank ...

| --- | --- | |----------------------------------------------------------|----------------| | | | | Teekay Tankers Second Quarter 2024 Earnings Presentation | August 1, 2024 | Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All statements included in this report, other than statements of historical fact, are forward-lookin ...

Financial Data and Key Metrics Changes - Teekay Corporation reported total adjusted EBITDA of $124 million for Q2 2024, a decrease from $151 million in Q1 2024 [3] - Adjusted net income was $107 million or $3.11 per share, down from $132 million or $3.96 per share in the previous quarter [3] Business Line Data and Key Metrics Changes - The company declared a fixed quarterly cash dividend of $0.25 per share for Q2 2024, maintaining a strong capital allocation plan [4] - Midsized tanker spot rates averaged above $40,000 per day for the third consecutive quarter, indicating stability in the market [6] Market Data and Key Metrics Changes - Global oil demand is projected to grow by approximately 1.5 million barrels per day in both 2024 and 2025, supporting tanker demand [9] - The Trans Mountain pipeline expansion has significantly boosted Aframax demand, with exports reaching approximately 300,000 to 350,000 barrels per day [10] Company Strategy and Development Direction - The company plans to be selective in fleet renewal, focusing on modern and efficient ships while capitalizing on elevated asset prices [17] - Teekay is positioned to benefit from high operating leverage, with 96% of its fleet deployed in the spot market, generating significant free cash flow [14] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about continued strength in the tanker market, despite normal spot rate volatility [15] - The company anticipates minimal tanker fleet growth due to a modest order book and aging fleet, which should support firm spot tanker rates [13] Other Important Information - The company sold two older ships for nearly $65 million and reinvested in a modern Aframax vessel for $70.5 million [5] - Geopolitical events, such as attacks on shipping in the Red Sea, have caused diversions leading to increased long-haul voyages, impacting the crude Aframax sector [11] Q&A Session Summary Question: Future acquisition strategy - Management indicated a balanced capital allocation plan and a selective approach to fleet renewal, focusing on modern ships while considering asset prices [17] Question: Fleet size and modernization - Management confirmed they are open to shrinking the fleet to modernize, emphasizing value over specific fleet size [18] Question: Sustainability of LR2 ships shifting to clean trade - Management views LR2 vessels as fungible assets that can switch between crude and clean trades, indicating a longer-term trend rather than a temporary impact [22] Question: Impact of Trans Mountain Pipeline on ton-mile demand - Management noted that the TMX pipeline has added demand for Aframaxes, with expectations for increased ton-mile demand as trade patterns develop [23]

HAMILTON, Bermuda, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Teekay Corporation (Teekay or the Company) (NYSE:TK) today reported results for the three months ended June 30, 2024. The full earnings release is available on the Company's website here. About Teekay Teekay is a leading provider of international crude oil marine transportation and other marine services. Teekay provides these services directly and through its controlling ownership interest in Teekay Tankers Ltd. (NYSE: TNK), one of the world's largest own ...

HAMILTON, Bermuda, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Teekay Tankers Ltd. (Teekay Tankers or the Company) (NYSE: TNK) today reported the Company's results for the quarter ended June 30, 2024 and announced that its Board of Directors has declared a cash dividend of $0.25 per share for the quarter ended June 30, 2024. The cash dividend is payable on August 23, 2024 to all shareholders of record as at August 12, 2024. The full earnings release and earnings presentation are available on the Company's website her ...

HAMILTON, Bermuda, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Teekay Corporation (Teekay or the Company) (NYSE:TK) today reported results for the three months ended June 30, 2024. The full earnings release is available on the Company's website here. About Teekay Teekay is a leading provider of international crude oil marine transportation and other marine services. Teekay provides these services directly and through its controlling ownership interest in Teekay Tankers Ltd. (NYSE: TNK), one of the world's largest own ...

Teekay Tankers plans to host a conference call on Thursday, August 1, 2024 at 11:00 a.m. (ET) to discuss its results for the second quarter of 2024. All shareholders and interested parties are invited to listen to the live conference call by choosing from the following options: Accompanying Teekay Tankers Second Quarter 2024 Earnings Presentation will also be available at www.teekay.com in advance of the conference call start time. Teekay is a leading provider of international crude oil marine transportatio ...

Alexey Bakharev It's hard to find niches of the global stock market that have outperformed the stout 1-year return on the S&P 500. While large-cap US equities, as measured by the S&P 500 Trust ETF (SPY) are up 27% from year-ago levels, one transportation-focused fund is higher by 36% with dividends included. The US Global Sea to Sky Cargo ETF (SEA) has posted big performance gains despite the media's spotlight continuing to be on AI and tech. One of the fund's biggest positions, Teekay Tankers (NYSE:TNK), h ...