Teekay Tankers Q3 2026 slides: record Q4 rates drive historic results

Teekay Tankers (TNK) reported Q3 2026 GAAP net income of $195.2M ($5.60/Share) and adjusted net income of $175.8M ($5.04/Share). Q4 spot rates surged to $236,000/day, driven by geopolitical disruptions and tight oil inventories. The company's fleet renewal strategy includes selling older vessels and ordering newbuilds for 2030 delivery.

TEEKAY TANKERS LTD. (TNK) furnished an SEC Form 6-K — earnings release. Item 1 — Information Contained in this Form 6-K Report Attached as Exhibit 1 is a copy of an announcement of Teekay Tankers Ltd. dated November 11, 2026. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to b

BofA raised its price target on Teekay Tankers (NYSE:TNK) to $83 from $78, maintaining an Underperform rating. The company reported adjusted EPS of $5.04, up 229% YoY, exceeding estimates. Q3 spot TCE rates were $78,000/day, 20% above BofA's forecast. Teekay generated $143M in free cash flow and holds $1.4B in cash. BofA upgraded its Q4 revenue forecast to $789M, nearly 200% above prior estimates. The company is set to release earnings on November 12.

Teekay Tankers reported Q3 Non-GAAP EPS of $5.04, exceeding estimates by $0.55, with revenue of $369.2M, up 61.2% year-over-year and beating forecasts by $105.74M. The company attributes the growth to strong cash generation.

Teekay Tankers (TNK) reported Q3 EPS of $5.04, beating estimates by $0.21, but revenue of $239.37M missed expectations. The stock is up 4.50% in 3 months and 43.90% in 12 months. InvestingPro rates its financial health as 'great performance'.

Bermuda's re/insurers rose (e.g., White Mountains +3.8%, Pelagos +4.9%) while shipping companies fell (e.g., Teekay -4.9%, Nordic American -5%) following US mid-term election results. S&P 500 and Dow Jones gained 1.6% and 3% respectively, while Treasury yields and oil prices dropped.