Scorpio Tankers Inc

STNG

Equity

ISIN MHY7542C1306 / Valor 45959947

New York Stock Exchange, Inc (2025-03-28)

USD 38.28+0.60%

Scorpio Tankers Inc
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About company

Scorpio Tankers Inc. is a prominent shipping company specializing in the transportation of refined petroleum products. Established in 2009, the company has grown significantly under the leadership of its founder, Emanuele A. Lauro, who has been instrumental in expanding its fleet from a modest three vessels to over 250 by 2021. Scorpio Tankers operates a modern fleet of product tankers, including LR2, LR1, MR, and Handymax vessels, which are designed to transport a variety of refined petroleum products such as gasoline, diesel, and jet fuel. The company is known for its focus on operational efficiency and strategic fleet management, leveraging its extensive industry experience to optimize routes and maximize profitability. Headquartered in Monaco, Scorpio Tankers is listed on the New York Stock Exchange under the ticker symbol STNG, reflecting its status as a key player in the global shipping industry.

Summarized from source with an LLMView SourceSector: Consumer Services

Net Income

In the third quarter of 2024, Scorpio Tankers Inc. reported a net income of $158.7 million, translating to $3.31 basic and $3.16 diluted earnings per share. This marks a significant increase compared to the same period in 2023, where the net income was $100.4 million, or $2.01 basic and $1.93 diluted earnings per share.

Adjusted Net Income

For the third quarter of 2024, Scorpio Tankers Inc. achieved an adjusted net income of $87.7 million, or $1.83 basic and $1.75 diluted earnings per share. This figure excludes gains from vessel sales and other adjustments. In comparison, the adjusted net income for the third quarter of 2023 was $99.2 million, or $1.99 basic and $1.91 diluted earnings per share.

Dividend Declaration

Scorpio Tankers Inc. declared a quarterly cash dividend of $0.40 per common share for the third quarter of 2024. The dividend is scheduled to be paid on December 13, 2024, to shareholders of record as of November 22, 2024. This decision reflects the company's commitment to returning value to its shareholders.

Time Charter Equivalent Revenue

During the third quarter of 2024, Scorpio Tankers Inc. reported average daily Time Charter Equivalent (TCE) revenue of $38,011 for LR2 vessels in the pool/spot market and $30,872 for time charters. For MR vessels, the average daily TCE revenue was $25,146 in the pool/spot market and $21,824 for time charters, indicating strong performance across its fleet.

Outlook and Investments

Scorpio Tankers Inc. demonstrated a positive outlook by investing $89.1 million in DHT Holdings Inc., acquiring a 4.9% stake. This investment aligns with the company's strategic vision in the crude tanker sector. Additionally, the company entered into a three-year time charter-out agreement for one of its MR product tankers, reflecting confidence in future market conditions.

Summarized from source with an LLMView Source

Key figures

-46.5%1Y

88.0%3Y

103%5Y

Performance

33.2%1Y

42.6%3Y

55.7%5Y

Volatility