Teekay Tankers Ltd. Files Form 6-K

TL;DR

Teekay Tankers (TNK) filed a 6-K on Oct 30th, check for updates.

AI Summary

Teekay Tankers Ltd. filed a Form 6-K on October 30, 2024, attaching an announcement dated the same day. The filing is a report of a foreign private issuer and includes information about the company's principal executive office in Hamilton, Bermuda.

Why It Matters

This filing provides an update from Teekay Tankers Ltd., a significant player in the maritime transportation sector, which may contain important operational or financial information for investors.

Risk Assessment

Risk Level: low — This filing is a routine report and does not appear to contain significant new financial or operational disclosures that would immediately alter risk.

Key Players & Entities

• TEEKAY TANKERS LTD. (company) — Registrant
• October 30, 2024 (date) — Filing Date
• Hamilton, Bermuda (location) — Principal Executive Office

FAQ

Key Financial Figures

• $58.8 m — Highlights Reported GAAP net income of $58.8 million, or $1.70 per share and adjusted
• $1.70 — ed GAAP net income of $58.8 million, or $1.70 per share and adjusted net income (1) o
• $63.5 m — er share and adjusted net income (1) of $63.5 million, or $1.84 per share, in the third
• $1.84 — ted net income (1) of $63.5 million, or $1.84 per share, in the third quarter of 2024
• $65.0 million — vicing the Government of Australia, for $65.0 million in cash. The Company has also agreed to
• $29,700 — d quarter to-date average spot rates of $29,700 per day for Suezmax vessels and $35,500
• $35,500 — $29,700 per day for Suezmax vessels and $35,500 per day for Aframax LR2 vessels with cu
• $34.0 million — sale of a 2005-built Suezmax tanker for $34.0 million. Declared a cash dividend of $0.25 per
• $0.25 — 0 million. Declared a cash dividend of $0.25 per share for the quarter ended Septemb
• $6.0 million — 2024 included restructuring charges of $6.0 million related to changes made to the Company'
• $5.8 million — in the third quarter of 2023 included a $5.8 million reversal of income tax accruals. CEO
• $10 million — that currently generates approximately $10 million in annual EBITDA -- Teekay Tankers beco
• $70.5 million — x tanker acquired by Teekay Tankers for $70.5 million was delivered. The previously-announced
• $9.5 million — urth quarter results, was approximately $9.5 million. Additionally, a 2005-built Aframax tan
• $37,513 — 92 91 92 Suezmax TCE per revenue day $37,513 $37,513 $37,513 Aframax LR2 revenue da

Filing Documents

• tnkq3-24erdocument.htm (6-K) — 380KB
• colorlogoa02.jpg (GRAPHIC) — 9KB
• newsreleasea10a.jpg (GRAPHIC) — 11KB
• 0001419945-24-000007.txt ( ) — 404KB

— Information Contained in this Form 6-K Report

Item 1 — Information Contained in this Form 6-K Report Attached as Exhibit 1 is a copy of an announcement of Teekay Tankers Ltd. dated October 30, 2024. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. TEEKAY TANKERS LTD. Date October 30, 2024 By s Brody Speers Brody Speers Chief Financial Officer (Principal Financial and Accounting Officer) TEEKAY TANKERS LTD. REPORTS THIRD QUARTER 2024 RESULTS Highlights Reported GAAP net income of $58.8 million, or $1.70 per share and adjusted net income (1) of $63.5 million, or $1.84 per share, in the third quarter of 2024 (excluding items listed in Appendix A to this release). The Company has agreed to acquire Teekay Corporation Ltd.'s ( Teekay's ) Australian operations (collectively, Teekay Australia ), which include ship management services companies primarily servicing the Government of Australia, for $65.0 million in cash. The Company has also agreed to acquire from Teekay all management services companies not currently owned by the Company at their net working capital value, transforming Teekay Tankers into a fully-integrated shipping company containing all shore-based employees and seafarers in one platform. The Company secured quarter to-date average spot rates of $29,700 per day for Suezmax vessels and $35,500 per day for Aframax LR2 vessels with current spot tanker rates well above these levels. In October 2024, completed the previously-announced sale of a 2005-built Suezmax tanker for $34.0 million. Declared a cash dividend of $0.25 per share for the quarter ended September 30, 2024. Hamilton, Bermuda, October 30, 2024 - Teekay Tankers Ltd. ( Teekay Tankers or the Company ) (NYSE TNK) today reported the Company's results for the quarter ended September 30, 2024 Consolidated Financial Summary Three Months Ended (in thousands of U.S. dollars, exce

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View this 6-K filing on SEC EDGAR