Overview

* Scorpio Tankers ( STNG ) Q2 adjusted EPS beats analyst expectations, per LSEG data

* Adjusted net income for Q2 beats analyst estimates, per LSEG data

* Company declares quarterly cash dividend of $0.40 per share

Result Drivers

* TCE REVENUE DECLINE - Co attributes decline in TCE revenue to normalized trade patterns and supply chains for refined petroleum products

* VESSEL SALES IMPACT - Reduced average number of vessels due to sales in 2024 led to lower operating costs and depreciation

* DELEVERAGING - Co's efforts to reduce debt resulted in lower financial expenses

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $1.47 $1.06 (9

Adjusted Analysts

EPS )

Q2 EPS $1.59

Q2 Beat $67.80 $52.40

Adjusted mln mln (8

Net Analysts

Income )

Q2 Net $73.50

Income mln

Q2 $0.4

Dividend

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the oil & gas transportation services peer group is "buy"

* Wall Street's median 12-month price target for Scorpio Tankers Inc ( STNG ) is $65.00, about 30.6% above its July 29 closing price of $45.10

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)