Euronav NV reports Q3 EPS 57c, consensus 47c

Reports Q3 revenue $278.38M, consensus $265.9M. The company said, “The third quarter exhibited a relatively typical trading pattern as the tanker markets adapted to the extra OPEC production and export reductions, along with indications of a slight decline in crude oil demand. The Euronav platform was expanded with a key time charter and two more VLCC new build contracts. After many months of uncertainty, a transaction between our two reference shareholders was agreed. We believe this will leverage the value that Euronav and its people have created through many years of hard work. It represents a balances outcome for shareholders, who now have the choice between realizing that value in cash or following Euronav in a new strategic direction under a new controlling shareholder.”