Cobas AM: Nueva Gestora de Francisco García Paramés

Teekay Tankers Ltd. Reports Second Quarter 2021 Results

• Reported GAAP net loss of $129.1 million, or $3.83 per share; and adjusted net loss(1) of $41.5 million, or $1.23 per share, in the second quarter of 2021 (excluding $86.7 million of vessel write-downs and other items listed in Appendix A to this release).
• In May 2021, Teekay Tankers (TNK) repurchased two vessels with $57 million of existing liquidity that were previously under higher-cost sale-leaseback financings and therefore are currently unencumbered. Six additional vessels under similar sale-leaseback financings are scheduled to be repurchased in September 2021.
• Teekay Tankers has signed term sheets to refinance the above-mentioned vessels with lower-cost sale-leaseback financings, which are expected to be completed in the third quarter of 2021.
• Counter-cyclically in-chartered three Aframax-sized vessels for periods of 18 to 24 months, plus extension options.
• Strong balance sheet with a pro forma liquidity position of approximately $274 million(3) and net debt to capitalization(4) of 36 percent as at June 30, 2021.

Teekay Corporation Reports Second Quarter 2021 Results

• GAAP net loss attributable to shareholders of Teekay of $1.8 million, or $0.02 per share, and adjusted net income attributable to shareholders of Teekay(1) of $30 thousand in the second quarter of 2021 (excluding items listed in Appendix A to this release).
• Total adjusted EBITDA(1) of $171.9 million in the second quarter of 2021.
• Teekay Parent reduced its asset retirement obligation (ARO) associated with the Banff FPSO by approximately $33 million in the second quarter of 2021.
• Teekay LNG’s LNG fleet is 98 percent fixed for the remainder of 2021 and 89 percent fixed for 2022.
• Teekay Tankers (TNK) counter-cyclically in-chartered three Aframax-sized vessels for periods of 18 to 24 months, plus extension options.

Teekay LNG Partners Reports Second Quarter 2021 Results

• GAAP net income attributable to the partners and preferred unitholders of $53.3 million and GAAP net income per common unit of $0.53 in the second quarter of 2021.
• Adjusted net income(1) attributable to the partners and preferred unitholders of $57.0 million and adjusted net income per common unit of $0.57 in the second quarter of 2021 (excluding other items listed in Appendix A to this release).
• Total adjusted EBITDA(1) of $183.5 million in the second quarter of 2021.
• The Partnership’s LNG fleet is 98 percent fixed for the remainder of 2021, and 89 percent fixed for 2022.
• Current strong LNG shipping fundamentals expected to persist into 2022.