Scorpio Tankers: 4Q Earnings Snapshot
MONACO (AP) _ Scorpio Tankers Inc. (STNG) on Thursday reported a fourth-quarter loss of $76.3 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the company said it had a loss of $1.41. Losses, adjusted for asset impairment costs and to extinguish debt, were $1.04 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of $1.10 per share.
The shipping company posted revenue of $138.2 million in the period. Its adjusted revenue was $138 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $135.9 million.
For the year, the company reported net income of $94.1 million, or $1.67 per share, swinging to a profit in the period. Revenue was reported as $907.9 million.
Scorpio Tankers shares have climbed 42% since the beginning of the year. The stock has dropped 30% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on STNG at https://www.zacks.com/ap/STNG
