Teekay Tankers reports Q4 EPS $4.33, consensus $3.33

Reports Q4 revenue $367.32M, consensus $198.85M. "While the mid-size tanker market in the third quarter was among the strongest in recent years, rates in the fourth quarter of 2022 surged to among the highest rates ever recorded," commented Kevin Mackay, Teekay Tankers’ president and CEO. "In this environment, we are greatly benefiting from the high operating leverage of our business with our near-total spot market exposure, including the very strong performance of our chartered-in fleet, resulting in Teekay Tankers reporting its highest ever quarterly adjusted net income. By continuing to pay down debt and refinancing vessels currently in sale-leaseback arrangements, we are taking action to further reduce our fleet breakeven levels and utilize our strong operating cash flow to increase shareholder value."