Bermuda's Teekay Tankers Q3 profit more than doubles on record tanker rates
TNK•TNK•TNK•TNK•Teekay Tankers reported third-quarter net income of $195.2 million and earnings per share of $5.60, as record-high spot tanker rates drove results. The company expects its highest-ever results in the fourth quarter and full-year 2026.
Teekay Tankers said strong spot tanker rates, supported by geopolitical disruptions and high refining margins, drove its third-quarter results. Net income was $195.2 million, and earnings per share were $5.60; the company also recorded a $22.9 million gain from a vessel sale.
The company advanced fleet renewal through new vessel acquisitions and contracts. It expects its highest-ever results in the fourth quarter and full-year 2026, citing strong spot rates, and expects tanker deliveries to accelerate over the next three years as the orderbook delivers.
