Teekay Tankers Ltd. (TNK) revealed earnings for first quarter that decreased from last year but beat the Street estimates.
The company's earnings totaled $144.771 million, or $4.18 per share. This compares with $169.368 million, or $4.90 per share, in last year's first quarter.
Excluding items, Teekay Tankers Ltd. reported adjusted earnings of $132.3 million or $3.86 per share for the period.
Analysts on average had expected the company to earn $3.73 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 14.3% to $338.343 million from $394.657 million last year.
Teekay Tankers Ltd. earnings at a glance (GAAP) :
-Earnings (Q1): $144.771 Mln. vs. $169.368 Mln. last year.
-EPS (Q1): $4.18 vs. $4.90 last year.
-Revenue (Q1): $338.343 Mln vs. $394.657 Mln last year.
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