Quarterly ResultMay 5, 2026, 06:48 AM
Scorpio Tankers Q1 Net Income $216.3M; $500M Buyback Program Replenished
AI Summary
Scorpio Tankers reported strong first-quarter 2026 results with net income of $216.3 million, significantly up from $58.2 million in Q1 2025. The company's board declared a quarterly cash dividend of $0.45 per share and authorized the replenishment of its 2023 Securities Repurchase Program to $500.0 million. These capital actions, alongside robust TCE revenue growth, reflect a strong product tanker market. The company also engaged in significant vessel sales and debt refinancing activities.
Key Highlights
- Q1 2026 net income was $216.3 million, up from $58.2 million in Q1 2025.
- Basic EPS for Q1 2026 was $4.58, compared to $1.26 in Q1 2025.
- Board declared a quarterly cash dividend of $0.45 per common share.
- 2023 Securities Repurchase Program replenished to $500.0 million.
- TCE revenue increased to $303.0 million in Q1 2026 from $204.2 million in Q1 2025.
- Average daily TCE revenue rose to $37,697 per vessel from $23,971 YoY.
- Issued $375.0 million convertible senior notes due 2031 in April 2026.
- Agreed to sell 11 vessels for an aggregate of $500 million in March/April 2026.