Scorpio Tankers Stock Gains After Q3 Results

Scorpio Tankers Inc. STNG reported a third-quarter vessel revenue decline of 32.7% Y/Y to $119.27 million. TCE revenue decreased to $118.61 million.
Adjusted loss per share of $(1.39) missed the consensus of $(1.25).
Operating expenses declined by 2.5% Y/Y to $159.71 million.
The company reported an operating loss of $(40.44) million, compared to an operating income of $13.5 million a year ago.
TCE revenue per day decreased to $10,139 per day during the quarter, from $15,100 per day during the three months ended September 30, 2020.
Adjusted EBITDA was $25.36 million, compared to $82.11 million in 3Q20, and margin fell to 21.3% from 46.3% last year.
Scorpio Tankers generated cash from operating activities year-to-date of $23.08 million, compared to $402.74 million a year ago.
Scorpio Tankers declared a quarterly cash dividend of $0.10 per common share, payable on or about December 15, 2021, to all shareholders of record as of December 3, 2021.
The company has $228.9 million in cash and equivalents as of November 10, 2021.
Price Action: STNG shares traded higher by 11.7% at $17.45 on the last check Thursday.

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