Scorpio Tankers Inc. - STNG STOCK NEWS

Scorpio Tankers (NYSE: STNG) reported a net loss of $76.3 million for Q4 2020, translating to a loss of $1.41 per share. Adjusted net loss stood at $56.6 million or $1.04 per share, impacted by $16.8 million in impairment charges and $2.8 million in debt extinguishment losses. For the full year, net income was $94.1 million, with an adjusted net income of $114.0 million, reflecting strong performance early in the year. A quarterly cash dividend of $0.10 per share was declared, with liquidity bolstered to $204.1 million. Challenges persist due to COVID-19's impact on global oil demand.

Scorpio Tankers (NYSE: STNG) will release its fourth quarter 2020 earnings on February 18, 2021, followed by a conference call at 8:30 AM EST. The company operates a fleet of 135 tankers, which are primarily used for marine transportation of petroleum products globally. Investors can access the call via the company's website or by phone. Forward-looking statements may involve uncertainties and assumptions regarding future performance and market conditions.

Scorpio Tankers (NYSE:STNG) announced that President Robert Bugbee purchased 300,000 call options on the company's common shares. The total investment amounted to $750,000, with a strike price of $12.00 and an expiration in July 2021. The company operates a fleet of 135 tankers used for marine transportation of petroleum products globally, with an average fleet age of 5.2 years. Investors should note the potential impacts of operational uncertainties, including those related to the COVID-19 pandemic.

Scorpio Tankers (NYSE:STNG) announced a commitment to sell and leaseback three MR product tankers and one LR2 product tanker to AVIC International Leasing, expected to increase liquidity by approximately $32 million after debt repayment. Additionally, the Company secured a $21 million term loan facility from a European financial institution to refinance debt on the LR2 tanker STI Madison, anticipated to boost liquidity by about $5 million. Both financing arrangements are subject to conditions and part of ongoing financing discussions initiated in November 2020.

Scorpio Tankers (NYSE:STNG) announced that Scorpio Services Holding Limited purchased 210,000 shares at an average price of $10.81. Additionally, President Robert Bugbee acquired call options for 400,000 shares, totaling $578,000, with strike prices of $12.00 and $13.00, expiring in April 2021. The company operates a fleet of 135 tankers, emphasizing their commitment to marine transportation of petroleum products.

Scorpio Tankers (NYSE: STNG) reported a net loss of $20.2 million for Q3 2020, an improvement from a $45.3 million loss in Q3 2019. Adjusted net loss per share remains unchanged at $0.37. For the first nine months of 2020, the company achieved a net income of $170.4 million, translating to $3.11 earnings per share. A quarterly cash dividend of $0.10 per share was declared, set to be paid on December 14, 2020. Additionally, the company aims to enhance liquidity with approximately $63.9 million from refinancing efforts and has repurchased $52.3 million of convertible notes.

Scorpio Tankers (NYSE: STNG) will release its Q3 2020 earnings on November 5, 2020, at 9:00 AM EST. Investors can join via a conference call or webcast, which will also be available telephonically. The company operates a fleet of 135 tankers with a 4.9-year average age, involved in marine transportation of petroleum products. Forward-looking statements hint at various uncertainties, including COVID-19's impact on demand and operational risks. For more details, visit www.scorpiotankers.com.

Scorpio Tankers (NYSE:STNG) announced that its President, Robert Bugbee, purchased 200,000 call options for a total of $266,000. The options have a strike price of $12.00 and will expire in January 2021. Scorpio Tankers operates a fleet of 135 tankers with an average age of 4.9 years, engaged in the marine transportation of petroleum products globally. The company aims to leverage its operations and financial strategies to navigate market challenges, including impacts from the COVID-19 pandemic.

Scorpio Tankers (NYSE: STNG) announced a liquidity boost of around $82 million through financing facilities, including a sale and leaseback of eight MR product tankers. The company expects to raise approximately $70 million after settling existing debts related to these tankers, with deliveries scheduled for Q4 2020. Additionally, a $12 million commitment has been secured for scrubber financing, expecting to generate about $66 million in further liquidity. The initiative aims to strengthen the company’s financial position amid evolving market conditions.