Scorpio Tankers Inc. (STNG): Financial results for Q3 2026
Scorpio Tankers Inc. (STNG) furnished an SEC Form 6-K — earnings release. Exhibit 99.1 Scorpio Tankers Inc. Announces Updates on Third Quarter 2026 TCE Rates and Time Charter-Out Agreements MONACO, Sept. 03, 2026 (GLOBE NEWSWIRE) — Scorpio Tankers Inc. (NYSE:STNG) (“Scorpio Tankers,” or the “Company”) announced today an update on its third quarter of 2
How this was made
The 30-second read
Why it matters
The Q3 update provides the first public view of charter performance for the quarter, setting expectations for Q4 earnings.
Market read
First‑report earnings release for a niche shipping company; modest but actionable for sector‑focused traders.
What to watch
Potential off‑hire days due to dry‑dock or regulatory inspections could reduce actual revenue realization.
Scorpio Tankers Announces Updates on Third Quarter 2026 TCE Rates and Time Charter-Out Agreements
The release provides favorable contracted TCE-rate and coverage disclosures plus three new time charter-out agreements, but it does not report Q3 revenue, earnings, cash flow, balance-sheet figures, or full financial results.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| LR2 Pool and Spot Market Average Daily TCE Revenueother | $ 64,900 | – | – |
| LR2 Pool and Spot Market Expected Revenue Daysother | 1,249 | – | – |
| LR2 Pool and Spot Market Percentage of Daysother | 85 % | – | – |
| LR2 Time Charters Out of the Pool Average Daily TCE Revenueother | $ 30,800 | – | – |
| LR2 Time Charters Out of the Pool Expected Revenue Daysother | 902 | – | – |
| MR Pool and Spot Market Average Daily TCE Revenueother | $ 30,000 | – | – |
| MR Pool and Spot Market Expected Revenue Daysother | 3,058 | – | – |
| MR Pool and Spot Market Percentage of Daysother | 79 % | – | – |
| MR Time Charters Out of the Pool Average Daily TCE Revenueother | 28,000 | – | – |
| MR Time Charters Out of the Pool Expected Revenue Daysother | 95 | – | – |
| MR Bareboat Charter Out of the Pool Average Daily Revenueother | $ 12,986 | – | – |
| MR Bareboat Charter Out of the Pool Expected Revenue Daysother | 91 | – | – |
| MR Bareboat Charter Out of the Pool Percentage of Daysother | 100 % | – | – |
| Handymax Pool and Spot Market Average Daily TCE Revenueother | $ 25,500 | – | – |
| Handymax Pool and Spot Market Expected Revenue Daysother | 1,183 | – | – |
| Handymax Pool and Spot Market Percentage of Daysother | 70 % | – | – |
| Handymax Time Charters Out of the Pool Average Daily TCE Revenueother | 23,000 | – | – |
| Handymax Time Charters Out of the Pool Expected Revenue Daysother | 91 | – | – |
| Estimated Fully Diluted Weighted Average Shares Outstanding for the Three Months Ended September 30, 2026other | between 54.5 to 55.5 million shares | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| LR2Pool and spot-market expected revenue days were 1,249, representing 85 % of days; time charters out of the pool had 902 expected revenue days. | $ 64,900 average daily TCE revenue in Pool and Spot Market; $ 30,800 average daily TCE revenue in Time Charters Out of the Pool | – | – |
| MRPool and spot-market expected revenue days were 3,058, representing 79 % of days; time charters out of the pool had 95 expected revenue days; bareboat charter out of the pool had 91 expected revenue days, representing 100 % of days. | $ 30,000 average daily TCE revenue in Pool and Spot Market; 28,000 average daily TCE revenue in Time Charters Out of the Pool; $ 12,986 average daily revenue in Bareboat Charter Out of the Pool | – | – |
| HandymaxPool and spot-market expected revenue days were 1,183, representing 70 % of days; time charters out of the pool had 91 expected revenue days. | $ 25,500 average daily TCE revenue in Pool and Spot Market; 23,000 average daily TCE revenue in Time Charters Out of the Pool | – | – |
Third quarter of 2026 outlook
- NoteAverage daily TCE revenue and coverage data are as of the date of the release and are subject to change as pool results are finalized.
- NoteSTI Gladiator: three years at $40,188 per day; expected to commence in September 2026.
- NoteSTI Jermyn: three years at $42,500 per day; expected to commence in September 2026.
- NoteSTI Pontiac: three years at $23,900 per day; expected to commence in the fourth quarter of 2026.
- NoteEstimated fully diluted weighted average shares outstanding for the three months ended September 30, 2026: between 54.5 to 55.5 million shares.
What drove it
- LR2 pool and spot-market average daily TCE revenue was $ 64,900 on 1,249 expected revenue days, representing 85 % of days.
- MR pool and spot-market average daily TCE revenue was $ 30,000 on 3,058 expected revenue days, representing 79 % of days.
- Handymax pool and spot-market average daily TCE revenue was $ 25,500 on 1,183 expected revenue days, representing 70 % of days.
- The Company entered into three-year time charter-out agreements for STI Gladiator, STI Jermyn, and STI Pontiac.
- The Company currently owns 75 product tankers, comprising 25 LR2 tankers, 36 MR tankers and 14 Handymax tankers.
Concerns
- Reported TCE rates and coverage percentages are subject to change as pool results, including estimated results of voyages currently in progress, are finalized.
- The release does not provide Q3 revenue, net income, EPS, operating cash flow, free cash flow, cash, debt, or capital-return figures.
- The estimated diluted share count is preliminary and subject to change because the calculation is partially dependent on the average price of the Company’s common stock during the period.
- The filing cites risks including fluctuations in charter rates and vessel values, changes in demand for tanker vessel capacity, charter-counterparty performance, potential shipping-route disruption, vessel breakdowns, and off-hires.
What to watch
- Finalized third-quarter pool results and the extent to which final TCE rates and coverage differ from this update.
- September 2026 commencement of the STI Gladiator and STI Jermyn time charters.
- Fourth-quarter 2026 commencement of the STI Pontiac time charter.
- Final diluted weighted average share calculation for the three months and nine months ended September 30, 2026, including the potentially dilutive effect of the Convertible Notes and restricted shares.
- Deliveries of five MR newbuildings expected in 2027 and 2030, six LR2 newbuildings expected in 2027 and 2029, and two VLCC newbuildings expected in 2028.
Analysis
This Form 6-K is a third-quarter operating update rather than a full earnings release. It reports preliminary TCE-rate and coverage information as of the date of the release, alongside new chartering agreements. The company did not provide revenue, profitability, EPS, cash flow, balance-sheet data, dividends, or repurchases for Q3 2026.
The preliminary rate profile is led by LR2 pool and spot-market average daily TCE revenue of $ 64,900 on 1,249 expected revenue days, representing 85 % of days. MR pool and spot-market average daily TCE revenue was $ 30,000 on 3,058 expected revenue days, representing 79 % of days. Handymax pool and spot-market average daily TCE revenue was $ 25,500 on 1,183 expected revenue days, representing 70 % of days. The release separately identifies time-charter and bareboat-charter exposure, which carries different reported daily revenue rates.
Contracted employment expanded through three new three-year time charter-out agreements. STI Gladiator and STI Jermyn are contracted at $40,188 per day and $42,500 per day, respectively, with commencement expected in September 2026. STI Pontiac is contracted at $23,900 per day with commencement expected in the fourth quarter of 2026. These agreements provide disclosed future contracted rates, while the pool and spot-market figures remain subject to revision as voyages and pool results are finalized.
Dilution is a key reporting consideration for the quarter. The company estimates fully diluted weighted average shares outstanding for the three months ended September 30, 2026 to be between 54.5 to 55.5 million shares. The release states that the calculation includes the potentially dilutive effect of the Convertible Notes and restricted shares, subject to the if-converted method and anti-dilution treatment.
Fleet expansion remains part of the disclosed forward operating profile. Scorpio Tankers currently owns 75 product tankers with an average age of 10.2 years and has agreements or letters of intent for five MR newbuildings, six LR2 newbuildings, and two VLCC newbuildings. The principal near-term items are final third-quarter pool results, commencement of the newly contracted charters, and the final diluted-share calculation.
Not in the filing
stated, not guessed- Q3 2026 total revenue
- Prior-year and prior-quarter total revenue
- Revenue growth rates
- Gross profit and gross margin
- Operating expenses
- Operating income
- Net income
- GAAP EPS
- Non-GAAP earnings measures and non-GAAP EPS
- Operating cash flow
- Free cash flow
- Cash and cash equivalents
- Debt
- Capital expenditures
- Share repurchases
- Dividends
- Financial guidance for revenue, gross margin, operating expenses, or tax rate
- Prior outlook for comparison
- Named executive quotes
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Scorpio Tankers is a NYSE‑listed provider of marine transportation for petroleum products, operating a fleet of 75 product tankers.
Ticker impact
Scorpio Tankers disclosed Q3 2026 average daily TCE rates and signed three new time‑charter contracts for LR2 and MR product tankers.
Potential modest upside in the next trading session as investors price in higher charter revenue.
Charter rates are above prior quarter averages and the three‑year contracts lock in revenue, but the overall scale remains limited to a niche shipping segment.
Market effects
Improves outlook for the petroleum product tanker sector, potentially lifting peers with similar fleet compositions.
Limited to North Atlantic and European spot markets where Scorpio operates.
Minor; shipping sector news has modest spillover to broader markets.
Counterpoint
If global oil demand weakens, locked‑in charter rates may become a liability, pressuring the stock.
Key entities
- companyScorpio Tankers Inc.
NYSE‑listed tanker operator reporting Q3 2026 results.
- vesselSTI Gladiator
LR2 product tanker chartered for three years at $40,188 per day.
- vesselSTI Jermyn
LR2 product tanker chartered for three years at $42,500 per day.
- vesselSTI Pontiac
MR product tanker chartered for three years at $23,900 per day.
