NYSE$TNK
Teekay Tankers Ltd · Q1 2026 earnings
Q1 2026 earnings · · After market close · Investor relations
Briefing
Teekay Tankers Q1 2026: $286M revenue (+24% YoY), net income $154M, EPS $4.42 on record spot rates
Teekay Tankers reported Q1 2026 total revenues of $286.1 million, up 24% from $231.6 million in Q1 2025, driven by higher spot TCE rates across Suezmax and Aframax/LR2 vessels, in-process revenue from three Aframax/LR2 acquisitions, and new time-charter contracts. Income from operations surged to $147.7 million from $74.4 million, and net income more than doubled to $153.6 million ($4.42 basic EPS, $4.40 diluted) from $76.0 million ($2.20 basic). The tankers segment generated $253.9 million of revenue versus $202.5 million a year ago, while marine services contributed $32.2 million. Voyage expenses fell to $57.6 million from $86.9 million despite stronger markets, and the company recorded a $22.7 million gain on sale of two Suezmax tankers. Cash and cash equivalents were $722.0 million at quarter-end. Management noted mid-size crude tanker spot rates reached the second-highest Q1 on record, with rates climbing to all-time highs early in Q2 as Middle East conflict disrupted Strait of Hormuz traffic.
- Total revenue $286.1M (+24% YoY); net income $153.6M; basic EPS $4.42 vs. $2.20 in Q1 2025.
- Tankers segment revenue $253.9M; income from operations $147.7M, up from $74.4M a year ago.
- Completed acquisition of three 2016-built Aframax/LR2 tankers; sold two Suezmax tankers for $22.7M gain.
- Fleet of 34 owned double-hulled tankers plus four time-chartered vessels as of March 31, 2026.
- Middle East conflict drove spot rates to record highs in early Q2; outlook remains volatile until strait reopens.
Headline financials
Revenue & EPS history
Teekay Tankers · Revenue · Quarterly
$286M
Revenue by segment
Teekay Tankers · $286M total across 2 segments · Q1 2026
- Tankers$254M—88.7%
- Marine Services and Other$32.2M—11.3%
Forward guidance
Management expects oil and tanker markets to remain highly volatile while the Strait of Hormuz stays effectively closed, with the ultimate impact on spot rates depending on conflict duration and resolution. Trading inefficiencies—including trapped vessels, Atlantic basin export growth, and longer voyage distances—have supported elevated rates despite a roughly 10 mb/d drop in Middle East exports.
Tailwinds
- Spot TCE rates reached all-time highs at the start of Q2 2026 amid unprecedented market disruption.
- Fleet optimization via vessel sales and strategic Aframax/LR2 acquisitions supports earnings leverage.
Headwinds
- Prolonged Middle East conflict creates unpredictable demand and rate volatility.
- Higher EU ETS compliance costs and freight tax provisions add operating expense pressure.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2026
+1.0%
Avg return
Earnings day
+2.1%
Avg return
5 days after
+1.4%
Avg return
30 days after
52%
34 / 65 earnings
Positive
+30.7%
Q4 2019
Best reaction
-13.1%
Q1 2016
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.4% | +1.3% | -1.5% | |
| Q4 2025 | +2.2% | +1.8% | -7.5% | |
| Q3 2025 | -2.9% | -1.2% | -4.3% | |
| Q2 2025 | -6.0% | +2.6% | +9.3% | |
| Q1 2025 | -4.9% | -1.1% | -3.7% | |
| Q4 2024 | -0.9% | -1.4% | -5.4% | |
| Q3 2024 | -2.1% | -4.3% | -17.3% | |
| Q2 2024 | -11.2% | -13.5% | -13.1% | |
| Q1 2024 | +8.2% | +9.8% | +9.7% | |
| Q4 2023 | -6.7% | -5.8% | -1.8% | |
| Q3 2023 | +3.1% | +1.8% | -1.2% | |
| Q2 2023 | +1.6% | +1.9% | -4.6% | |
| Q1 2023 | +6.7% | +4.7% | -5.6% | |
| Q4 2022 | +16.0% | +20.9% | +16.2% | |
| Q3 2022 | +3.8% | +5.2% | +5.6% | |
| Q2 2022 | +0.4% | +11.3% | +6.5% | |
| Q1 2022 | +4.2% | +21.3% | +34.7% | |
| Q4 2021 | +16.3% | +18.0% | +17.4% | |
| Q3 2021 | -2.2% | -3.0% | -28.7% | |
| Q2 2021 | -2.6% | -2.4% | +6.5% | |
| Q1 2021 | +4.4% | +7.0% | +13.4% | |
| Q4 2020 | -5.6% | -0.9% | +11.9% | |
| Q3 2020 | -5.5% | +0.9% | +10.6% | |
| Q2 2020 | -7.7% | -14.5% | -20.4% | |
| Q1 2020 | +2.7% | +5.4% | -11.3% | |
| Q4 2019 | +30.7% | +20.9% | +73.5% | |
| Q3 2019 | +8.2% | +13.0% | +32.0% | |
| Q2 2019 | -9.8% | -13.8% | -9.8% | |
| Q1 2019 | -6.7% | -8.9% | -14.1% | |
| Q4 2018 | +2.8% | +0.0% | -9.4% | |
| Q3 2018 | +8.5% | -3.8% | -3.8% | |
| Q2 2018 | +6.2% | +4.2% | +13.7% | |
| Q1 2018 | -10.3% | -14.5% | -13.7% | |
| Q4 2017 | +14.5% | +10.9% | +10.0% | |
| Q3 2017 | +0.0% | -1.4% | +2.1% | |
| Q2 2017 | +0.0% | -3.5% | -17.5% | |
| Q1 2017 | +1.6% | +8.4% | -8.4% | |
| Q4 2016 | -4.5% | -4.9% | -18.3% | |
| Q3 2016 | +8.6% | +10.1% | +18.2% | |
| Q2 2016 | +2.7% | +0.0% | -13.7% | |
| Q1 2016 | -13.1% | — | — | |
| Q4 2015 | -3.3% | — | — | |
| Q3 2015 | -1.1% | — | — | |
| Q2 2015 | +3.0% | — | — | |
| Q1 2015 | +10.7% | — | — | |
| Q4 2014 | +2.6% | — | — | |
| Q3 2014 | +1.9% | — | — | |
| Q2 2014 | +1.0% | — | — | |
| Q1 2014 | +0.6% | — | — | |
| Q4 2013 | +20.4% | — | — | |
| Q2 2012 | -5.5% | — | — | |
| Q3 2013 | +0.8% | — | — | |
| Q2 2013 | -1.1% | — | — | |
| Q1 2013 | -8.2% | — | — | |
| Q4 2012 | -6.2% | — | — | |
| Q3 2012 | -1.9% | — | — | |
| Q1 2012 | -0.2% | — | — | |
| Q4 2011 | -4.9% | — | — | |
| Q3 2011 | -1.1% | — | — | |
| Q1 2011 | +4.9% | — | — | |
| Q2 2011 | +4.9% | — | — | |
| Q4 2010 | -2.1% | — | — | |
| Q3 2010 | +0.8% | — | — | |
| Q2 2010 | +0.8% | — | — | |
| Q1 2009 | -6.5% | — | — |
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