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- Scorpio Tankers Inc. (NYSE:STNG) reported a third-quarter vessel revenue decline of 32.7% Y/Y to $119.27 million. TCE revenue decreased to $118.61 million.
- Adjusted loss per share of $(1.39) missed the consensus of $(1.25).
- Operating expenses declined by 2.5% Y/Y to $159.71 million.
- The company reported an operating loss of $(40.44) million, compared to an operating income of $13.5 million a year ago.
- TCE revenue per day decreased to $10,139 per day during the quarter, from $15,100 per day during the three months ended September 30, 2020.
- Adjusted EBITDA was $25.36 million, compared to $82.11 million in 3Q20, and margin fell to 21.3% from 46.3% last year.
- Scorpio Tankers generated cash from operating activities year-to-date of $23.08 million, compared to $402.74 million a year ago.
- Scorpio Tankers declared a quarterly cash dividend of $0.10 per common share, payable on or about December 15, 2021, to all shareholders of record as of December 3, 2021.
- The company has $228.9 million in cash and equivalents as of November 10, 2021.
- Price Action: STNG shares traded higher by 11.7% at $17.45 on the last check Thursday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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