TK Research | Milton Maxwell

Upcoming Earnings

Report date

-/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

FY Q4 '25

Drip-feed cash into fleet buys

2/18/26Feb 18, 2026

Q&A revealed Teekay Tankers' preference for drip-feeding cash into fleet renewal—selling one old vessel to buy two new ones—over big M&A, given elevated asset values in the hot market. No urgency to deploy the $850M+ pile despite analyst probing. Modeling details emerged: bareboat charters yield pure revenue pre-full ownership, G&A ~$46M run-rate or lower, Q1 D&A ~$22M. Venezuela exports hit 700k bpd in February on compliant tankers, nearing 800k with upside; Canadian TMX flows to Asia boost Aframaxes. Iran risks may yield short-lived spikes. No dividend hints beyond May. Near-term firm, supply timing watched.

Key Stats

Market Cap

779.36M

P/E (TTM)

10.27

Basic EPS (TTM)

0.89

Dividend Yield

0%

About

Teekay Corporation Ltd. provides crude oil marine transportation and other marine services worldwide. The company operates in two segments, Tankers and Marine Services. It owns and operates crude oil and refined product tankers. The company also offers ship-to-ship support services; tanker commercial management operation services; and operational and maintenance marine services. As of March 1, 2025, it operated a fleet of approximately 48 owned and chartered-in vessels. It serves energy and utility companies, oil traders, oil consumers and petroleum product producers, government agencies, and various other entities that depend upon marine transportation. The company was formerly known as Teekay Corporation and changed its name to Teekay Corporation Ltd. in October 2024. Teekay Corporation Ltd. was founded in 1973 and is headquartered in Hamilton, Bermuda.

CEO

Mr. Kenneth Hvid

IPO

7/20/1995

Website

https://www.teekay.com

Employees

2,330

Sector

Energy

Industry

Oil & Gas Midstream