Teekay Tankers Ltd (TNK)

[MisterEC]

Teekay Tankers misses by $0.08, beats on revenue

Teekay Tankers (NYSE:TNK): Q1 EPS of $0.29 misses by $0.08.

Revenue of $164.95M (+53.4% Y/Y) beats by $4.81M.

press release

HAMILTON, BERMUDA -- (Marketwired) -- 05/19/16 -- Highlights
-- Reported first quarter 2016 adjusted net income attributable to
shareholders(1) of $46.0 million, or $0.29 per share, compared to $39.0
million, or $0.34 per share, in the same period of the prior year.
-- Generated first quarter 2016 free cash flow(2) of $66.2 million, or
$0.42 per share, compared to $53.0 million, or $0.46 per share, in the
same period of the prior year.
-- Declared cash dividend of $0.09 per share for the first quarter of 2016
based on approximately 30 percent of adjusted net income in the first
quarter of 2016.
-- Continued de-levering of the balance sheet, reducing net debt(3) by
$48.3 million during the first quarter of 2016.

On May 18, 2016, Teekay Tankers declared a dividend of $0.09 per share for the first quarter of 2016, which is to be paid on June 3, 2016 to all shareholders of record on May 30, 2016. Since the Company's inception, it has declared dividends in 34 consecutive quarters.