TK TEEKAY CORP LTD
Price Chart
Executive Summary
Teekay reported strong Q1 2026 results with net income of $47.7M ($0.55/share), up sharply from $14.9M ($0.17/share) a year ago. Revenue grew 24% YoY to $285.8M. The company declared a $1.00/share special dividend and Teekay Tankers is executing a fleet renewal plan with $190M in newbuilding purchases and $53.5M in vessel sales.
Actionable Insight
The strong earnings beat and special dividend signal robust cash generation from Teekay Tankers. Monitor the May 14 conference call for forward guidance on tanker rates and fleet utilization. The $190M newbuilding commitment suggests management is bullish on medium-term Suezmax demand. The special dividend creates a near-term catalyst for TK shares.
Key Facts
- Q1 2026 net income attributable to shareholders: $47.7M, or $0.55 per share, vs $14.9M ($0.17) in Q1 2025
- Q1 2026 consolidated revenue: $285.8M, up from $231.2M in Q1 2025 (+23.6%)
- Income from operations: $147.2M, up from $71.3M in Q1 2025 (+106%)
- Teekay declared a special cash dividend of $1.00 per common share, payable June 2, 2026
- Teekay Tankers declared a combined regular ($0.25) + special ($1.00) dividend of $1.25/share for Q1 2026
- Teekay Tankers acquired three 2016-built Aframax tankers for $141.5M and sold two older Suezmax tankers for $73M (gain of $22.7M)
- Teekay Tankers agreed to purchase two Korean resale Suezmax newbuildings for $190M (delivery 2027) and sold one 2009-built Suezmax for $53.5M
- Teekay Parent cash and short-term investments: $127.4M at March 31, 2026
- Market value of Teekay's investment in Teekay Tankers: $780.4M at March 31, 2026 (up from $568.6M at Dec 31, 2025)
- Outstanding shares: 87.0M at March 31, 2026, up from 83.5M a year ago
Financial Impact
Net income surged 219% YoY to $47.7M; revenue grew 24% to $285.8M; operating income doubled to $147.2M. Special dividend of $1.00/share represents ~$87M total payout.
Risk Factors
- Tanker rate volatility could reverse the earnings momentum if global crude demand weakens
- The $190M newbuilding commitment adds capital expenditure risk with deliveries not until 2027
- Share count has increased 4.2% YoY, modestly diluting EPS growth
Market Snapshot
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0000911971-26-000022 |
| Document: 0000911971-26-000022-index-headers.html | 0000911971-26-000022 |
| Document: 0000911971-26-000022-index.html | 0000911971-26-000022 |
| Document: 0000911971-26-000022.txt | 0000911971-26-000022 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 13, 2026
2d ago
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Insider Cluster
| — | awaiting T+5 | — | — |
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Jun 12, 2026
2d ago
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Insider Cluster
| $12.01 awaiting T+5 | awaiting T+5 | — | $12.33 (+2.66%) |
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Jun 12, 2026
2d ago
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Insider Cluster
| $11.90 awaiting T+5 | awaiting T+5 | — | $12.33 (+3.61%) |
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May 13, 2026
4w ago
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6-K
| $12.20 $12.48 | ▲ +2.27% | ▲ +2.99% | $12.33 (+1.06%) |
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May 6, 2026
5w ago
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6-K
| $14.09 $13.17 | ▼ −6.53% | ▼ −8.03% | $12.33 (−12.49%) |
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Mar 13, 2026
13w ago
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Press Release
| $11.37 $11.91 | ▲ +4.75% | ▲ +6.79% | $12.33 (+8.44%) |
US Market Status
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