Scorpio Tankers (STNG) reported quarterly earnings results on Thursday, Jul-28-2016. The company reported $0.04 EPS for the quarter. Analysts had a consensus estimate of $0.04. The company posted revenue of $137.21 million in the period, compared to analysts expectations of $137.44 million. The company’s revenue was down -27.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.
Scorpio Tankers opened for trading at $4.38 and hit $4.89 on the upside on Thursday, eventually ending the session at $4.78, with a gain of 10.14% or 0.44 points. The heightened volatility saw the trading volume jump to 1,02,94,000 shares. Company has a market cap of $827 M.
Scorpio Tankers Inc. is a provider of seaborne transportation of refined petroleum products and crude oil to the international shipping markets. The Company’s fleet consists of 66 wholly owned tankers (10 LR2 tankers two LR1 tankers 15 Handymax tankers and 39 MR tankers) with a weighted average age of approximately 1.1 years and 20 time chartered-in tankers which it operate (seven Handymax tankers three MR tankers five LR1 tankers and five LR2 tankers). In addition the Company has contracts for the construction of 14 newbuilding product tankers (six MR tankers and eight LR2 tankers) (Newbuilding Program). The Company’s total oil tanker fleet (crude products and product/chemical tankers) consisted of 3138 ships with a combined capacity of 407 million deadweight tonnage.