Scorpio Tankers ( (STNG) ) has released its Q4 earnings. Here is a breakdown of the information Scorpio Tankers presented to its investors.
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Scorpio Tankers Inc. is a leading provider of marine transportation services, specializing in the global shipment of petroleum products using a fleet of product tankers. In their latest earnings report, Scorpio Tankers announced their financial results for the fourth quarter and full year of 2024, alongside a quarterly cash dividend of $0.40 per share. The company reported a net income of $68.6 million for Q4 2024, a decrease from the previous year, with adjusted net income at $30.3 million. For the full year, Scorpio Tankers posted a net income of $668.8 million, a significant increase from 2023, driven by vessel sales and strategic financial management initiatives. Key highlights include the successful issuance of $200 million in senior unsecured bonds, a robust cash position, and an expanded revolving credit facility, reflecting a focus on liquidity and financial flexibility. Looking forward, Scorpio Tankers remains committed to leveraging its strong market position and financial resources to navigate industry challenges and capitalize on potential growth opportunities.
