Scorpio Tankers Clocks 7% Revenue Growth In Q4, Misses On Estimates

  • Scorpio Tankers Inc. STNG reported a fourth-quarter vessel revenue growth of 7% Y/Y to $147.91 million, missing the consensus of $151.10 million.
  • TCE revenue increased by 7.2% Y/Y to $147.89 million for the quarter, and average TCE revenue per day increased to $12,615 from $11,608 per day in 4Q20.
  • Adjusted loss per share of $(0.79) missed the consensus of $(0.75).
  • Operating expenses declined to $157.97 million from $180.71 million a year ago.
  • The company reported an operating loss of $(10.06) million, compared to $(42.47) million a year ago.
  • Adjusted EBITDA increased to $56.95 million (+26% Y/Y), and margin expanded to 38.5%, up 580 bps.
  • Scorpio Tankers generated cash from operating activities of $73.3 million in FY21, compared to $419.38 million a year ago.
  • Scorpio Tankers declared a quarterly cash dividend of $0.10 per common share, payable on or about March 15, 2022, to all shareholders of record as of March 2, 2022.
  • The company has $225.8 million in cash and equivalents as of February 11, 2022.
  • Price Action: STNG shares are trading higher by 0.83% at $15.72 during the premarket session on Monday.
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