Teekay Offshore Partners L.P. (TOO) Releases Earnings Results, Beats Expectations By $0.03 EPS

Teekay Offshore Partners L.P. (TOO) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $0.22 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.19. The company posted revenue of $284.50 million in the period, compared to analysts expectations of $269.10 million. The company’s revenue was down -8.6% compared to the same quarter last year.

Teekay Offshore Partners L.P. closed down -0.08 points or -1.53% at $5.15 with 7,46,838 shares getting traded on Tusday. Post opening the session at $5.38, the shares hit an intraday low of $4.95 and an intraday high of $5.44 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

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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