Teekay Offshore Partners L.P. (TOO) Releases Earnings Results, Beats Expectations By $0.06 EPS

Teekay Offshore Partners L.P. (TOO) reported quarterly earnings results on Thursday, May-19-2016. The company said it had a profit of $0.41 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.35. The company posted revenue of $306.70 million in the period, compared to analysts expectations of $301.82 million. The company’s revenue was up 15.7% compared to the same quarter last year.

Teekay Offshore Partners L.P. opened for trading at $5.88 and hit $6.09 on the upside on Monday, eventually ending the session at $5.95, with a gain of 4.39% or 0.25 points. The heightened volatility saw the trading volume jump to 3,03,972 shares. Company has a market cap of $637 M.

Teekay Offshore Partners L.P. is a provider of marine transportation oil production storage towage and floating accommodation services to the offshore oil industry focusing on the fast-growing deep-water offshore oil regions of the North Sea and Brazil. The Company operates shuttle tankers floating production storage and off-loading (FPSO) units floating storage and off-take (FSO) units and conventional crude oil tankers. As of December 31 2014 the Company’s fleet consisted of 34 shuttle tankers including two chartered-in vessels and one HiLoad Dynamic Positioning (DP) unit; seven FPSO units including the Libra FPSO and the Petrojarl I FPSO conversion and upgrade projects; six FSO units and four conventional oil tankers in which its interests range from 50% to 100%. Its operational segments include the shuttle tanker segment the FPSO segment the FSO segment the conventional tanker segment towage segment and floating accommodation units (FAUs) segment.

Teekay Offshore Partners L.P.

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