Teekay Tankers Ltd. Q1 Profit Decreases, but beats estimates

(RTTNews) - Teekay Tankers Ltd. (TNK) revealed earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $144.771 million, or $4.18 per share. This compares with $169.368 million, or $4.90 per share, in last year's first quarter.

Excluding items, Teekay Tankers Ltd. reported adjusted earnings of $132.3 million or $3.86 per share for the period.

Analysts on average had expected the company to earn $3.73 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 14.3% to $338.343 million from $394.657 million last year.

Teekay Tankers Ltd. earnings at a glance (GAAP) :

-Earnings (Q1): $144.771 Mln. vs. $169.368 Mln. last year. -EPS (Q1): $4.18 vs. $4.90 last year. -Revenue (Q1): $338.343 Mln vs. $394.657 Mln last year.