Teekay Corp. Q1 Adjusted EBITDA Declines - Quick Facts

(RTTNews) - Teekay Corp. (TK) reported first-quarter adjusted loss per share of $0.01 compared to profit of $0.11, last year. Total adjusted EBITDA declined to $41.77 million from $202.43 million.

Net income attributable to the shareholders was $0.9 million compared to $29.95 million, prior year. Earnings per share was $0.01 compared to $0.30. Revenues increased to $212.72 million from $184.48 million, previous year.

"Our financial results for the first quarter of 2022 were lower compared to the prior quarter, primarily reflecting the sale and the resulting deconsolidation of Teekay LNG in mid-January 2022, including certain transaction and restructuring costs, partially offset by higher spot tanker rates and the extinguishment of substantially all of Teekay Parent's debt," said Kenneth Hvid, CEO.