Omar Nokta

Ken Hoexter

Jonathan Chappell

- Teekay Tankers reported **GAAP net income of $92.1 million, or $2.66 per share**, and **adjusted net income of $53.3 million, or $1.54 per share**, for Q3 2025.  **[0000911971_2216669_0]** **[0000911971_2216669_1]** 
- The company generated approximately **$69 million in free cash flow from operations** and maintained a **strong balance sheet with $775 million in cash and no debt** at the end of Q3 2025.  **[0000911971_2216669_1]** **[0000911971_2216669_4]** 
- Teekay continued its fleet renewal strategy, **acquiring one modern Suezmax and a 50% ownership interest in a VLCC**, and **selling five Suezmax tankers for $158.5 million** in gross proceeds.  **[0000911971_2216669_1]** 
- Opportunistic time charter agreements for **one Suezmax at $42,500 per day** and **two Aframax vessels at an average of $33,275 per day** helped lower the fleet's free cash flow break-even to **$11,300 per day**.  **[0000911971_2216669_1]** **[0000911971_2216669_4]** 
- Management expects a **firm spot tanker market** in the coming months, supported by increased global oil supply and geopolitical factors, with **Q4 to date spot rates of $63,745 per day for VLCCs, $45,500 per day for Suezmaxes, and $35,200 per day for Aframax/LR2 fleets**.  **[0000911971_2216669_1]** **[0000911971_2216669_3]** **[0000911971_2216669_4]**

Teekay Group Reports Strong Q3 2025 Earnings and Strategic Fleet Renewal

- Teekay Tankers reported **Adjusted Net Income of $53.3 million** and **Adjusted EPS of $1.54** for Q3 2025, with **$775 million in cash** as of September 30, 2025.  **[0000911971_2214266:6]** **[0000911971_2214266:8]** 
- The company completed **two vessel acquisitions** and **four vessel sales** in Q3 2025 and Q4 2025 to-date, generating **gross proceeds of $158.5 million**.  **[0000911971_2214266:6]** 
- **Q3 2025 spot rates** were **$31,100** for VLCC, **$33,400** for Suezmax, and **$35,900** for Aframax / LR2, with **Q4 2025 To-Date rates** significantly higher at **$63,700** for VLCC and **$45,500** for Suezmax.  **[0000911971_2214266:6]** 
- A **fixed quarterly dividend of $0.25 per share** was declared, payable in November 2025.  **[0000911971_2214266:6]**  For Q4 2025, the company anticipates a **decrease in net revenues** due to a net decrease of approximately **199 net revenue days**.  **[0000911971_2214266:11]**

Teekay Tankers Reports Q3 2025 Results and Declares Dividend

- Teekay Corporation Ltd. reported a **net income attributable to shareholders of $29.6 million**, or **$0.34 per share**, for the **third quarter of 2025**.  **[911971_0000911971-25-000022_tkq3-25pressrelease.htm:0]** 
- As part of its fleet renewal plan, Teekay Tankers completed the acquisition of **one 2017-built Suezmax tanker** and the **remaining 50% ownership interest of the Hong Kong Spirit VLCC tanker**. Additionally, **four of five previously announced vessel sales were completed**, with gross proceeds expected to total **$158.5 million**.  **[911971_0000911971-25-000022_tkq3-25pressrelease.htm:0]** 
- Teekay Tankers declared a **regular, fixed quarterly cash dividend of $0.25 per share** for the quarter ended September 30, 2025. Teekay Parent's cash position decreased primarily due to the payment of a **one-time cash special dividend of $1.00 per outstanding common share**, totaling **$85.3 million**.  **[911971_0000911971-25-000022_tkq3-25pressrelease.htm:0]** **[911971_0000911971-25-000022_tkq3-25pressrelease.htm:1]**

TEEKAY CORP (TK)