- Scorpio Tankers Inc. STNG reported a second-quarter vessel revenue decline of ~60% Y/Y to $139.44 million, missing the consensus of $155.89 million.
- Adjusted loss per share of $(0.94) missed the consensus of $(0.64).
- Operating expenses declined by 5.1% Y/Y to $154.74 million.
- The company reported an operating loss of $(15.3) million, compared to an operating income of $183.12 million a year ago.
- Average TCE revenue per day decreased to $11,954 per day in the quarter, from $29,693 per day during the three months ended June 30, 2020.
- Adjusted EBITDA was $50.3 million, compared to $251.99 million in 2Q20, and margin fell to 36.1% from 72.8%.
- Scorpio Tankers generated cash from operating activities year-to-date of $25.92 million, compared to $292.1 million a year ago.
- Scorpio Tankers declared a quarterly cash dividend of $0.10 per common share, payable on or about September 29, 2021, to all shareholders of record as of September 9, 2021.
- The company has $268.6 million in cash and cash equivalents as of August 4, 2021.
- In August, Scorpio Tankers agreed to acquire a minority interest in a portfolio of nine product tankers, consisting of five dual-fuel MR Methanol tankers.
- Price action: STNG shares trading lower by 5.66% at $14.491 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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