EarningsQ2 2026 Earnings Report
MX:STNGN Q2 2026 EPS Results
Actual EPS$86.07
Consensus EPS$83.81
Beat/MissBeat by +$2.26
One Year Ago EPS$25.93
MX:STNGN Q2 2026 Revenue Results
Actual Revenue$7.52B
Expected Revenue$7.32B
Beat/MissBeat by +$192.81M
YoY Revenue Growth+77.54%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeBefore Open
Conference CallThursday, July 30, 2026
MX:STNGN Upcoming Earnings
Scorpio Tankers's next earnings date is estimated for November 3, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:STNGN Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized a transformational quarter driven by record adjusted EBITDA, strong net income, substantial liquidity, aggressive debt reduction and lower cost of capital, plus active share buybacks and dividends. Management also highlighted fleet optimization, opportunistic commercial contracts and a low cash breakeven that supports robust cash generation in current markets. Counterbalancing these positives are geopolitical uncertainties, moderation from peak rates, YoY declines in seaborne product exports, aging/sanctioned tonnage and some reliance on non-recurring sale gains and convertible issuance that could dilute equity. On balance, the operational and financial achievements materially outweigh the risks presented.Company Guidance
Record Quarterly Financial Results
Second quarter was the strongest in company history: adjusted EBITDA of $300.5 million and adjusted net income of $243.7 million (IFRS net income $388 million). The quarter included a $154 million gain on sale of vessels.
Transformed Balance Sheet and Strong Liquidity
Net debt reduced by approximately $4.2 billion since Dec 2021, moving from $2.9 billion net debt to a net cash position of about $1.3 billion (net cash roughly $26 per share). Cash on hand reported at $2.2 billion (as of July 28) with an additional $483 million in revolver availability (total liquidity ~$2.4 billion).
Lowered Cost of Capital and Debt Refinancing
Issued $605 million of convertible notes at a yield to maturity of ~1% (combined issuances yield below 1%), repaid ~$589 million of higher-cost debt (5%–7.5% range) including redemption of $200 million 7.5% notes, and executed new 7-year secured credit facilities at 120 bps margin — materially reducing cash interest and weighted average secured debt margins.
Fleet Optimization and Asset Realizations
Sold 19 vessels year-to-date (many 11–12 years old) and completed sales at prices above original purchase prices; 15 vessel sales reported in the quarter (with gains recognized on 10 vessels). Orderbook reduced to 13 vessels; first MR newbuilding (STI Moxie) to deliver imminently, reflecting fleet renewal and higher fuel-efficiency focus.
Shareholder Returns and Capital Allocation
Repurchased ~2 million shares for $155 million during the quarter and declared a quarterly dividend of $0.45 per share, totaling over $175 million returned to shareholders in Q2.
Commercial Wins and Market Positioning
Entered three MR time charters for minimum three years (to commence Dec), achieved the highest average daily TCE in company history, and opportunistically moved LR2s into the crude market where spot rates exceeded cleaner LR2 levels (66% of LR2 fleet trading crude).
Low Cash Breakeven and Strong Cash Generation Potential
Cash breakeven reduced to approximately $11,000/day (lowest in company history). At illustrative TCEs, company can generate up to $246 million/year at $20,000/day and up to $520 million/year at $30,000/day.
Disciplined Growth Optionality
Remaining newbuilding and JV commitments of ~ $978 million are spread over the next four years and could be funded from cash if desired; current outstanding debt is $655 million (of which $605 million is convertible debt) limiting near-term leverage.
MX:STNGN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed