Teekay Corporation (TK) Releases Earnings Results, Beats Expectations By $0.22 EPS

Teekay Corporation (TK) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $0.01 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.22. Analysts had a consensus of $-0.21. The company posted revenue of $587.60 million in the period, compared to analysts expectations of $539.91 million. The company’s revenue was down -.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.

Teekay Corporation closed down -0.19 points or -3.32% at $5.54 with 19,63,509 shares getting traded on Tusday. Post opening the session at $5.92, the shares hit an intraday low of $5.5 and an intraday high of $5.96 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

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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