Teekay Q1 Net Loss Narrows; Sees Strong Q2 - Quick Facts

(RTTNews) - Teekay Corp. (TK), a provider of crude oil and gas marine transportation services, reported Thursday that its first-quarter net loss attributable to shareholders was $49.81 million or $0.49 per share, compared to last year's loss of $84.26 million or $0.84 per share.

Adjusted net income attributable was $25.26 million or $0.25 per share, compared to loss of $12.96 million or $0.13 per share a year ago.

Total adjusted EBITDA climbed around 59 percent to $342.2 million.

Revenues grew to $574.05 million from $486.87 million last year. Total adjusted revenues were $681.35 million, up from $600.90 million a year ago.

Kenneth Hvid, Teekay's President and CEO, said, "Looking ahead to the second quarter of 2020, we are expecting another strong quarter supported by our stable LNG cash flows and the firm tanker rates we have already secured in the second quarter of 2020."