Quarterly ResultMay 13, 2026, 04:28 PM
Teekay Q1 Net Income $47.7M, EPS $0.55; Declares $1.00 Special Dividend
AI Summary
Teekay Corporation Ltd. reported strong first-quarter 2026 results with U.S. GAAP net income attributable to shareholders of $47.7 million, or $0.55 per share. The company declared a special cash dividend of $1.00 per common share, payable on June 2, 2026. Its subsidiary, Teekay Tankers, also declared a combined dividend of $1.25 per share, including a $1.00 special dividend, and continued its fleet renewal plan by acquiring three Aframax tankers for $141.5 million and agreeing to purchase two Suezmax newbuildings for $190 million, while divesting three Suezmax tankers for a total of $126.5 million.
Key Highlights
- Teekay Q1 2026 net income attributable to shareholders was $47.7 million, or $0.55 per share.
- Teekay Corporation declared a special cash dividend of $1.00 per common share.
- Teekay Tankers declared a regular quarterly dividend of $0.25 and a special dividend of $1.00 per share.
- Consolidated revenues for Q1 2026 increased to $285.8 million from $231.2 million in Q1 2025.
- Teekay Tankers acquired three 2016-built Aframax tankers for $141.5 million.
- Teekay Tankers agreed to purchase two Suezmax newbuildings for $190 million.
- Teekay Tankers sold three Suezmax tankers for total proceeds of $126.5 million.
- Teekay Parent's cash and short-term investments were $127.4 million as of March 31, 2026.