EarningsQ2 2026 Earnings Report
MX:TKN Q2 2026 EPS Results
Actual EPS$14.22
Consensus EPS―
Beat/Miss―
One Year Ago EPS―
MX:TKN Q2 2026 Revenue Results
Actual Revenue$6.83B
Expected Revenue―
Beat/Miss―
YoY Revenue Growth+63.28%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeAfter Close
Conference CallWednesday, July 29, 2026
MX:TKN Upcoming Earnings
Teekay's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:TKN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized exceptionally strong near-term financial and operational performance — record adjusted net income, record spot rates, substantial free cash flow, a debt-free balance sheet and active fleet renewal — which materially strengthen Teekay Tankers' financial flexibility and shareholder optionality. However, material risks were highlighted: significant geopolitical disruptions that are creating routing inefficiencies and volatility, inventory and demand timing uncertainty, short-term off-hire impacts from dry-docking, and potential longer-term fleet supply risks from a swollen order book. On balance, the company's strong earnings, cash generation and balance sheet position outweigh the operational and market risks discussed.Company Guidance
Record Quarterly Earnings
GAAP net income of $226 million ($6.49/share) and adjusted net income of $194 million ($5.56/share) in Q2 2026 — adjusted net income was 50% higher than the prior quarter and marks the company's highest ever quarterly adjusted net income.
All-time High Spot Tanker Rates
Average midsized tanker spot rates reached approximately $91,000/day in Q2 2026, a ~50% increase versus the previous record (just over $60,000/day). Segment averages: Suezmax ~$109,200/day and Aframax LR2 ~$74,100/day.
Strong Free Cash Flow and Debt-Free Balance Sheet
Generated approximately $200 million of free cash flow from operations in Q2; cash position exceeded $1.2 billion with zero debt at quarter end. Annualized H1 free cash flow illustration: $684 million (roughly $20/share).
Low Free Cash Flow Breakeven
Very low free cash flow breakeven of approximately $9,700/day over the next 12 months, indicating high operating leverage to current spot rates.
Active Fleet Renewal and Asset Recycling
Executed disciplined fleet renewal: acquired/committed to seven modern vessels (~$427 million) and sold nine older vessels for $369.5 million with combined gains of $125 million (gain on disposals ~34%). Also purchased two Suezmax newbuildings for $190 million (delivery 2027).
Successful Asset Disposals with Gains
Sold a 2009-built Suezmax for $53.5 million (gain of $32.3 million) in Q2; completed VLCC sale for $84.5 million in early July with an expected Q3 gain of ~ $23 million.
Improved Operational Control and Revenue Capture
All three Aframaxes acquired earlier in the year were redelivered from bareboat charters and are now under Teekay technical and commercial management, trading in the strong spot market to capture higher returns.
Dividend Maintained and Spot Coverage for Q3
Declared regular fixed quarterly dividend of $0.25/share and has approximately 44% of Q3 spot days booked at secured spot rates of $104,800/day (Suezmax) and $59,900/day (Aframax LR2).
MX:TKN 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