Teekay Corporation (TK) Releases Earnings Results, Misses Expectations By $-0.25 EPS

Teekay Corporation (TK) reported quarterly earnings results on Thursday, May-19-2016. The company reported $-0.08 earnings per share for the quarter, missing the analyst consensus estimate by $-0.25. Analysts had a consensus of $0.17. The company posted revenue of $641.10 million in the period, compared to analysts expectations of $619.95 million. The company’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS.

Teekay Corporation opened for trading at $9.63 and hit $9.83 on the upside on Monday, eventually ending the session at $9.5, with a gain of 1.82% or 0.17 points. The heightened volatility saw the trading volume jump to 10,71,345 shares. Company has a market cap of $691 M.

Teekay Corporation (Teekay) is a provider of crude oil and gas marine transportation services. The Company also offers offshore oil production storage and offloading services primarily under long-term fixed-rate contracts. The Company is engaged in the liquefied natural gas (LNG) and liquefied petroleum gas (LPG) shipping sectors through its subsidiary Teekay LNG Partners L.P. (Teekay LNG). The Company is engaged in the operations in the offshore production storage and transportation sector through its subsidiary Teekay Offshore Partners L.P. (Teekay Offshore) and through its interest in Teekay Petrojarl AS. It is also engaged in the conventional tanker business through its subsidiary Teekay Tankers Ltd. (Teekay Tankers). The Company has four primary lines of business which consist of offshore logistics offshore production liquefied gas carriers and conventional tankers.

Teekay Corporation

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