Scorpio Tankers Inc. (STNG) Earnings
Scorpio Tankers Inc. is expected to report next earnings on July 29, 2026 (in NaN days), with a consensus EPS estimate of $5.57. STNG has beaten EPS estimates in 9 of its last 11 reported quarters (average surprise +24.9% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $2.73 | $3.02 | +10.6% | $303M | +5.7% |
| Mar 20, 2026 | — | $2.59 | — | $253M | — |
| Oct 30, 2025 | $1.39 | $1.49 | +7.2% | $241M | +2.1% |
| Jul 30, 2025 | $1.03 | $1.41 | +36.9% | $230M | +5.0% |
| May 1, 2025 | $0.71 | $1.03 | +45.1% | $214M | -2.8% |
| Feb 12, 2025 | $0.49 | $0.63 | +28.6% | $204M | -0.0% |
| May 9, 2024 | $3.67 | $3.97 | +8.2% | $391M | +2.3% |
| Feb 14, 2024 | $2.63 | $2.75 | +4.6% | $336M | -0.2% |
| Nov 9, 2023 | $1.56 | $1.91 | +22.4% | $291M | +4.2% |
| Aug 2, 2023 | $2.47 | $2.41 | -2.4% | $329M | -8.9% |
| May 2, 2023 | $3.22 | $3.31 | +2.8% | $384M | -1.8% |
| Feb 16, 2023 | $4.29 | $4.24 | -1.2% | $494M | +9.1% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 5, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- CEO Emanuele Oro thanked stakeholders and discussed company's growth since 2009, highlighting strong balance sheet, fleet optimization, reduced cash break-evens. Cash position strong, recent financing reduced cost of capital. Sold older vessels for value realization. Repurchased shares and announced buyback and dividend. Rates improved for six consecutive quarters with momentum continuing into second quarter. Optimistic on tanker market fundamentals despite Middle East geopolitical uncertainties. - CFO Chris Avella discussed financial results: $214 million adjusted EBITDA and $216 million net income on IFRS basis including $66 million gain on vessel sales. Net debt position reduced from $2.9 billion at end of 2021 to pro forma net cash balance of $876 million. Debt structure evolving with secured bank debt, senior unsecured notes, and convertible notes. Liquidity profile strong with $1.4 billion in cash as of May 1st and $2.5 billion in available liquidity. Signed contracts to purchase 10 new building vessels with remaining commitments ~$641 million. Cash break even rates at lowest levels, illustrating cash generation potential at different daily rates.
Guidance
- Rates have improved for six consecutive quarters and momentum continues into second quarter. Expect restocking and demand to reassert as Middle East geopolitical disruptions normalize. Low break-even model allows performance across environments. Anticipate fleet growth to average approximately 3% over next three years but potentially lower. Ton mile demand expected to outpace fleet growth in longer term.
Segment performance
In the first quarter, the company generated $214 million of adjusted EBITDA and $151 million of adjusted net income. Cash position stands at approximately $1.4 billion, bound to hit $2 billion early in summer with daily cash break-even around $11,000 per day. Sold 12 older vessels at prices above original purchase levels. Repurchased 1.4 million shares for around $100 million in April and announced $500 million share buyback authorizations and 45 cent per share quarterly dividend. Product tanker rates are at unprecedented levels with average clean tanker earnings over $70,000 per day. Global inventories drawn down, system needs to rebuild inventories creating constructive setup for product tankers. Product tanker new building activity slowed, order book 18% of existing fleet but effective supply fleet growth materially lower. Fleet growth expected to average ~3% over next three years but potentially lower with ton mile demand outpacing fleet growth.
Risks & headwinds
- Uncertainty regarding geopolitical developments in the Middle East, including timing of normalization of flows through the Strait of Hormuz. Impact on trade flows, refinery utilization, and seaborne flows. Potential for disruptions to continue affecting market dynamics. Bunker fuel market initial disruption with high prices, although currently no issues securing bunkers but price volatility remains.
Analyst Q&A
Q: Could you walk us through the decision on the convertible bond?
A: Chris Avella said it was opportunistic as convertible markets are strong and they have a strong credit profile, 1.75% coupon and high conversion premium, mindful of secured debt maturing in 18 - 24 months.
Q: How is the market translating into new trade routes or expanding ones replacing others?
A: Lars Denker Nielsen said they've seen elongated voyages, huge increase in U.S. Gulf Coast exports further afield, ships being redirected multiple times, price of oil and product making freight insignificant, Jones Act waiver briefly affecting things.
Q: Does the $500 million buyback signal a pivot in capital use?
A: Robert Bugbee said it doesn't create a pivot, just a continuation of strategy, watching and acting when opportunities arise, with strong cash position and ability to get cheap debt.
Q: Scenario analysis on upside opportunities and downside risks?
A: James Doyle said they don't spend much time on hypotheticals as information changes rapidly, but operations have changed with moving ships to areas of greater market dislocation.
Q: Increased interest in multi-year charters and thoughts on Venezuela?
A: Lars Denker Nielsen said reduced break-evens and low borrowing cost open up opportunities for multi-year charters, and they continue to look at charters daily with interest in MRs and LR stroke Afromaxes, and on Venezuela, it's part of the Afromax market.
Q: Thoughts on fleet renewal preference between LR2s and medium-range?
A: Robert Bugbee said they'll continue to concentrate on renewing product tankers in MRs and LR2s.
Q: Philosophy around dividend?
A: Robert Bugbee said they want a regular, sustainable dividend that can be paid under any circumstances, evaluating it based on cash break even and ability to pay through cycles.
Q: Bunker fuel market availability and impact on fleet positioning?
A: Lars Denker Nielsen said no issues securing bunkers today, but price was high initially, and bunker planning is part of daily voyage planning.
Q: Switching between Afros and LR2s?
A: Lars Denker Nielsen said currently both AfriMaxes and LR2s are strong with good supply-demand story considering fleet age and trading capabilities.
Q: Modification of global refinery capacity redistribution post-conflict?
A: James Doyle said it's a challenge as quickest to build a refinery is seven years, but people may view storage differently going forward