Welcome to our dedicated page for Teekay Corporation Ltd. news (Ticker: TK), a resource for investors and traders seeking the latest updates and insights on Teekay Corporation Ltd. stock.
Teekay Corporation (NYSE: TK) is a prominent leader in the marine energy sector, established in 1973. Over the decades, Teekay has transformed from a regional shipping company into one of the largest global marine energy transportation, storage, and production entities. The company’s primary mission is to deliver energy worldwide, supporting the global economy and enhancing lives.
Teekay operates significantly in the marine midstream space through its ownership of the general partners and limited partner interests in Teekay LNG Partners L.P. (NYSE:TGP) and Teekay Offshore Partners L.P. (NYSE:TOO). The general partners hold all outstanding incentive distribution rights. Additionally, Teekay maintains a controlling interest in Teekay Tankers Ltd. (NYSE:TNK) and directly owns a vast fleet of vessels.
The consolidated assets managed by Teekay, valued at over $13 billion, encompass more than 215 liquefied gas, offshore, and conventional tanker assets. The company's robust portfolio ensures the safe and efficient transportation of crude oil, LNG, and petroleum products, serving a diverse clientele that includes energy and utility companies, oil traders, large oil and LNG consumers, and governmental agencies.
Teekay's operations are divided into two primary business lines: marine services and conventional tankers. These sectors work in unison to provide offshore oil production, storage, and offloading services under long-term, fixed-rate contracts. Recent achievements include various strategic partnerships and project developments that further solidify its position in the industry.
For more information or investor relations inquiries, visit the official website at www.teekay.com or reach out via email at investor.relations@teekay.com.
Teekay Corporation (NYSE:TK) reported its fourth quarter and full-year results for 2021, highlighting a significant operational footprint in the marine transportation sector. The company's assets under management are approximately $2 billion, including around 55 conventional tankers. Teekay is noted for its robust service provision to leading energy companies globally. The earnings release along with the presentation is available on Teekay's website for detailed financial insights.
Teekay Corporation (TK) and Teekay Tankers Ltd. (TNK) will disclose their fourth quarter and fiscal 2021 financial results before market opening on February 24, 2022. Shareholders can participate in live conference calls scheduled for 11:00 a.m. and 12:00 p.m. (ET) respectively. Conference call access is available via designated telephone numbers and webcasts on Teekay's website. Teekay manages $2 billion in assets, operating approximately 55 tankers and offering marine services to major energy companies.
Teekay Corporation announced the completion of its cash tender offer for all outstanding 5.0% Convertible Senior Notes due 2023, which expired on February 9, 2022. Approximately $85 million, or 75.8% of the total Notes, were tendered. The company accepted all validly tendered Notes and will pay approximately $87 million on February 10, 2022, which includes accrued interest. Post-settlement, about $27.2 million in Notes will remain outstanding. Morgan Stanley acted as the dealer manager for the offer.
Teekay Corporation (NYSE:TK) has completed its merger with Teekay LNG Partners L.P. (NYSE:TGP), selling approximately 36 million common units at $17.00 per unit for total cash proceeds of about $641 million. Post-transaction, Teekay plans to redeem its 9.25% Senior Secured Notes and tender its 5.0% Convertible Senior Notes, strengthening its financial position with approximately $325 million in cash. The company aims to leverage this financial strength for future investment opportunities, focusing on the growing demand for lower-carbon transportation solutions.
Teekay Corporation has initiated a cash tender offer to buy back all outstanding 5.0% Convertible Senior Notes due 2023, aiming to improve its financial position. The offer expires on February 9, 2022, with a total principal amount of $112.18 million being sought. Each $1,000 of Notes will be bought at $1,020 plus accrued interest. This initiative is part of a broader strategy to strengthen its balance sheet, reduce capital costs, and enhance financial flexibility, funded by cash and proceeds from the upcoming acquisition of Teekay LNG Partners, expected to finalize on January 13, 2022.
Teekay Corporation reported a GAAP net loss of $2.9 million, or $0.03 per share, in Q3 2021, with an adjusted net income of $0.1 million. The total adjusted EBITDA was $165.2 million. Teekay LNG announced a cash acquisition agreement by Stonepeak for $17.00 per unit, totaling approximately $640 million to Teekay Parent. Teekay Parent secured a six-year contract with the Australian Government for marine services for five vessels. The report highlights mixed performance, with decreased revenues and net losses against a backdrop of improved operational efficiencies.
Teekay Corporation (NYSE:TK) will release its financial results for the third quarter of 2021 on November 4, 2021, before market open. Shareholders are encouraged to join live conference calls starting at 11:00 AM ET for Teekay and 12:00 PM ET for Teekay Tankers. Interested parties can dial in or access the webcasts via Teekay's website. The company operates a fleet valued at approximately $9 billion, managing around 130 marine assets. Teekay is a prominent provider of crude oil and gas maritime services.
Teekay Corporation (NYSE:TK) has secured a six-year contract with the Australian Government Department of Defence to provide marine services for five vessels, including options for an additional ten years. Commencing in November 2021, the contract involves ship management services such as crewing, training, maintenance, and supply support. This partnership enhances Teekay's asset-lite services and strengthens its strategic relationship with the Australian Government. With this addition, Teekay will manage a total of nine Australian vessels, creating growth opportunities for its marine services business.
Teekay Corporation reported a GAAP net loss attributable to shareholders of $1.8 million, or $0.02 per share, for Q2 2021. Adjusted EBITDA was $171.9 million, with a slight adjusted net income of $30,000. Teekay LNG continues to perform well with 98% of its fleet fixed for 2021, while Teekay Tankers has in-chartered three Aframax vessels amid uncertainty in the tanker market. The company also reduced its asset retirement obligations by $33 million related to the Banff FPSO. Total liquidity stands at approximately $0.8 billion as of June 30, 2021.
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