Scorpio Tankers Results Surpass Estimates

(RTTNews) - Scorpio Tankers Inc (STNG), a seaborne transporter of refined petroleum products and crude oil, on Wednesday reported second-quarter net earnings of $57.6 million or $0.32 per share compared with a loss of $574 thousand or $0.00 per share last year.

Revenues for the quarter were sharply higher at $188.5 million compared with $57.4 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.27 per share on revenues of $172.4 million for the quarter. Analysts' estimates typically exclude special items.

The company has declared a quarterly cash dividend of $0.125 per share.