Teekay Tankers (TNK) Q4 2025 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Thu, February 19, 2026 astatine 11:20 AM CST 25 min read

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Thursday, February 19, 2026 astatine 11 a.m. ET

• President and Chief Executive Officer — Kenneth Hvid

• Chief Financial Officer — Brody Speers

• Vice President, Finance and Corporate Development — Brian Hamilton

• Director of Research — Christian Waldegrave

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Kenneth Hvid: 4th fourth and yearly 2025 Earnings Conference Call. Joining maine connected the telephone contiguous for the Q&A league is Brody Speers, Teekay Corporation's and Teekay Tankers' CFO Brian Hamilton, our VP of Finance and Corporate Development and Christian Waldegrave, our Director of Research. Starting connected descent 3 of the presentation, we volition screen Teekay Tankers' caller highlights. Teekay Tankers reported GAAP nett income of $120,000,000 oregon $3.47 per stock and adjusted nett income of $97,000,000 oregon $2.8 per stock successful the 4th quarter. For the afloat year, Teekay Tankers reported GAAP nett income of $351,000,000 oregon $10.15 per stock and adjusted nett income of $241,000,000 oregon $6.96 per stock and realized gains connected vas income for the twelvemonth totaling $100,000,000.

Spot tanker rates during the 4th were the 2nd highest for 4th fourth successful the past 15 years. With our important spot vulnerability and a debased escaped currency travel breakeven, the institution astir $112,000,000 successful escaped currency travel from operations and astatine the extremity of the quarter, had a currency presumption of $853,000,000 with nary debt. This excludes $99,000,000 of currency held successful escrow astatine the extremity of the twelvemonth related to payments for vas purchases. Teekay Tankers continues to execute connected its fleet renewal strategy. In January, we acquired 3 2016-built Aframaxes for $142,000,000 and bareboat chartered the vessels backmost to the seller connected short-term contracts.

We expect to instrumentality implicit afloat commercialized and method absorption of these vessels successful the 2nd and 3rd 4th of this year. In addition, we sold oregon agreed to merchantability 2 older Suezmaxes, for gross proceeds of $73,000,000 and conscionable this week, we finalized an statement to merchantability our lone VLCC for gross proceeds of $84,500,000 with transportation during Q2. We expect to admit full gains from income of astir $45,000,000 successful 2026. Looking astatine our archetypal 4th to date, the tanker marketplace has continued to fortify and we person secured spot rates of $79,800, $56,900 and $51,400 per time for our VLCC, Suezmax and Aframax/LR2 fleets, respectively.

With astir 78% spot-based publication for VLCC and astir 65% spot Facebook for midsize three.