EarningsQ2 2026 Earnings Report
MX:TNKN Q2 2026 EPS Results
Actual EPS$100.49
Consensus EPS$101.30
Beat/MissMissed by -$0.81
One Year Ago EPS$25.48
MX:TNKN Q2 2026 Revenue Results
Actual Revenue$6.86B
Expected Revenue$5.40B
Beat/MissBeat by +$1.45B
YoY Revenue Growth+62.97%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeAfter Close
Conference CallWednesday, July 29, 2026
MX:TNKN Upcoming Earnings
Teekay Tankers's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:TNKN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a broadly positive operational and financial position for Teekay Tankers driven by record spot rates, record adjusted earnings, strong free cash flow generation, a debt-free balance sheet and active fleet renewal. These positives are tempered by significant geopolitical disruptions, inventory drawdowns, medium-term fleet supply risk from elevated newbuilding orders and near-term operational impacts (dry-docking, route restrictions). Management emphasized strong liquidity, low cash-flow breakeven and capital allocation flexibility to navigate market volatility.Company Guidance
Record Quarterly Earnings
GAAP net income of $226 million ($6.49 per share) and adjusted net income of $194 million ($5.56 per share) in Q2 2026; adjusted net income was 50% higher than the prior quarter and represents the company's highest-ever quarterly adjusted net income (surpassing Q1 2023).
Historic Spot Tanker Rates
Spot rates reached record highs in Q2 2026: average mid-sized tanker rates of approximately $91,000 per day (about 50% above the prior record in Q1 2023). Teekay Tankers reported average spot rates of ~$109,000/day for Suezmax and ~$74,100/day for Aframax LR2.
Strong Free Cash Flow and Debt-Free Balance Sheet
Generated approximately $200 million of free cash flow from operations in the quarter; cash position increased to over $1.2 billion with no debt at quarter end. Annualized first-half 2026 free cash flow run-rate implied of ~$684 million (almost $20 per share) if sustained.
Low Free Cash Flow Breakeven
Reported a low free cash flow breakeven of approximately $9,700 per day over the next 12 months, providing significant operating leverage to the strong tanker market.
Active, Disciplined Fleet Renewal
Completed targeted fleet transactions in Q2: acquired two Korean Suezmax newbuildings for $190 million (expected delivery 2027); sold a 2009 Suezmax for $53.5 million with a gain on sale of $32.3 million. Over the past 12 months sold nine older vessels for $369.5 million (combined gains of $125 million) and acquired/committed to seven modern vessels for about $427 million.
Improved Operational Control
Three Aframaxes acquired earlier in the year have been redelivered from bareboat charters and are now operated under Teekay technical and commercial management, participating in the strong spot market.
Dividend and Capital Allocation Flexibility
Declared regular fixed quarterly dividend of $0.25 per share; management highlighted ongoing capital allocation discussions with the board given unprecedented cash generation and significant investment capacity.
Forward Bookings for Q3
Secured approximately 44% of spot days for Q3 at committed spot rates of ~$105,000 per day for Suezmax and ~$59,900 per day for Aframax LR2, providing partial revenue visibility into the quarter.
MX:TNKN 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