Teekay Tankers dashed analysts’ hopes of higher shareholder payouts after its first-quarter profit plunged.
Net earnings of $76m, down from $148.9m in the same period of 2024, were in line with expectations, according to Fearnley Securities.
Bookings were “somewhat underwhelming” versus what the market hoped for, with suezmaxes softer than expected.
“Alas, shareholder distributions are not at levels we had hoped, which should lead to a persisting discount on valuation,” analysts Fredrik Dybwad and Nils Thommesen said.
