Omar Nokta

Tim Chang

Jonathan Chappell

Ken Hoexter

Adam Roszkowski

- Teekay Tankers Ltd. 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.  **[0001419945_2216688_0]** 
- The company generated approximately **$69 million in free cash flow** from operations, ending Q3 2025 with a **cash position of $775 million** and **no debt**.  **[0001419945_2216688_0]**  Its free cash flow breakeven has been lowered to **$11,300 per day**.  **[0001419945_2216688_3]** 
- Teekay Tankers continued its fleet renewal strategy by acquiring **one modern Suezmax** and a **50% ownership interest in a VLCC**, while selling **five Suezmax tankers** for **$158.5 million** in gross proceeds.  **[0001419945_2216688_0]** **[0001419945_2216688_1]** 
- The company declared a regular fixed dividend of **$0.25 per share** and reported strong Q4 2025 spot rates to date, including **$63,745 per day** for VLCCs, **$50,000 per day** for Suezmaxes, and **$35,200 per day** for Aframax LR2s.  **[0001419945_2216688_1]**

Teekay Tankers Reports Strong Q3 2025 Results and Fleet Renewal Progress

- Teekay Tankers reported **Q3 2025 GAAP Net Income of $92.1 million** (**$2.66 GAAP EPS**) and **Adjusted Net Income of $53.3 million** (**$1.54 Adjusted EPS**).  **[0001419945_2214341:6]** 
- The company generated **$68.7 million in Free Cash Flow** and held **$775 million in cash** as of September 30, 2025.  **[0001419945_2214341:6]** **[0001419945_2214341:8]** 
- Spot rates for Q3 2025 were strong, with VLCC at **$31,100**, Suezmax at **$33,400**, and Aframax / LR2 at **$35,900**. Q4 2025 to-date rates show further firming, with VLCC at **$63,700**, Suezmax at **$45,500**, and Aframax / LR2 at **$35,200**.  **[0001419945_2214341:6]** 
- Operational activities included the acquisition of two vessels and the sale of four vessels, yielding **$158.5 million in gross proceeds** and estimated gains of **$47.5 million**.  **[0001419945_2214341:6]** 
- A **fixed quarterly dividend of $0.25 per share** was declared, payable in November 2025.  **[0001419945_2214341:6]**

Teekay Tankers Reports Strong Q3 2025 Financials and Operational Highlights

- **Teekay Tankers reported strong financial results for Q3 2025, with GAAP Net Income of $92.1 million ($2.66 GAAP EPS) and Adjusted Net Income of $53.3 million ($1.54 Adjusted EPS)**.  **[0001419945_2214292:6]** 
- The company generated **$68.7 million in Free Cash Flow** and maintained a strong balance sheet with **$775 million in cash** at the end of Q3 2025.  **[0001419945_2214292:6]** **[0001419945_2214292:10]** **[0001419945_2214292:14]** 
- Strategic fleet activity included the **acquisition of two vessels** and the **sale of four vessels** in Q3 and Q4 2025 to-date, yielding **gross proceeds of $158.5 million** and estimated gains of **$47.5 million** from five vessel sales.  **[0001419945_2214292:6]** 
- **Spot rates remained strong in Q3 2025** (e.g., Suezmax at **$33,400**) and showed significant firming into Q4 2025 to-date (e.g., VLCC at **$63,700** and Suezmax at **$45,500**).  **[0001419945_2214292:6]** 
- A **fixed quarterly dividend of $0.25 per share** was declared, payable in November 2025.  **[0001419945_2214292:6]**

Teekay Tankers Reports Strong Q3 2025 Financial Results and Strategic Fleet Activity

- Teekay Tankers Ltd. 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 the **third quarter of 2025**.  **[1419945_0001419945-25-000020_tnkq3-25erdocument.htm:0]** 
- The Company declared a **cash dividend of $0.25 per share** for the quarter ended **September 30, 2025**.  **[1419945_0001419945-25-000020_tnkq3-25erdocument.htm:0]** 
- **Fourth quarter 2025 spot rates to date** have strengthened, with Suezmax averaging **$45,500 per day** (52% fixed), Aframax/LR2 averaging **$35,200 per day** (47% fixed), and VLCC averaging **$63,700 per day** (54% fixed).  **[1419945_0001419945-25-000020_tnkq3-25erdocument.htm:0]** **[1419945_0001419945-25-000020_tnkq3-25erdocument.htm:4]** 
- Teekay Tankers continued its fleet renewal strategy by completing the acquisition of one 2017-built Suezmax tanker for **$64.3 million** and the remaining 50% ownership interest in a VLCC for **$63 million**.  **[1419945_0001419945-25-000020_tnkq3-25erdocument.htm:0]** **[1419945_0001419945-25-000020_tnkq3-25erdocument.htm:2]**  The Company also completed four of five previously announced vessel sales, with gross proceeds on the five sales expected to total **$158.5 million** and estimated gains of approximately **$47.5 million**.  **[1419945_0001419945-25-000020_tnkq3-25erdocument.htm:0]** 
- Total liquidity for the Company increased to **$975.7 million** as of **September 30, 2025**, up from **$931.1 million** as of June 30, 2025.  **[1419945_0001419945-25-000020_tnkq3-25erdocument.htm:5]**

Teekay Tankers Reports Strong Q3 2025 Results and Increased Liquidity

- Teekay Tankers Ltd. reported its results for the **quarter ended September 30, 2025**.  **[1419945_b019115e3f5f4e1795ebc824a1db24ce_0]** 
- The company's Board of Directors declared a **fixed cash dividend of $0.25 per share** for the quarter ended September 30, 2025, which is payable on **November 21, 2025**, to shareholders of record as of **November 10, 2025**.  **[1419945_b019115e3f5f4e1795ebc824a1db24ce_0]** 
- Teekay Tankers operates a fleet of **34 double-hull tankers**, comprising **17 Suezmax**, **16 Aframax / LR2**, and **1 VLCC tanker**, alongside **three time chartered-in** oil and product tankers.  **[1419945_b019115e3f5f4e1795ebc824a1db24ce_0]**

TEEKAY TANKERS (TNK)