August 13, 2020 Teekay Tankers Ltd. Reports Second Quarter 2020 Results
(World News Russia)

August 13, 2020 Highlights Reported GAAP net income of $98.2 million, or $2.91 per share, and adjusted net income(1) of $80.7 million, or $2.39 per share, in the second quarter of 2020 (excluding items listed in Appendix A to this release). Total Adjusted EBITDA(1) of $124.2 million in the second quarter of 2020. Generated approximately $126 million of free cash flow(1) and received proceeds from the sale of a portion of its ship-to-ship transfer support services in the second quarter of 2020, contributing to over a $180 million reduction in net debt(2) and increasing liquidity to approximately $468 million as of June 30, 2020. Delivered nine vessels into previously announced time...