FX.co ★ Teekay Tankers Ltd. Q1 Profit Decreases, but beats estimates

Teekay Tankers Ltd. (TNK) has disclosed first-quarter earnings that, although have dipped compared to the same period last year, have still surpassed Wall Street predictions.

The company's earnings stood at $144.771 million, equating to $4.18 per share - a decrease from last year's first quarter, which registered at $169.368 million, or $4.90 per share.

When special items are ignored, Teekay Tankers Ltd.'s adjusted earnings for the period are reported at $132.3 million, translating to $3.86 per share. Analysts had, on average, foreseen the company's earnings to be $3.73 per share - a figure obtained through data gathered by Thomson Reuters. These analysts' predictions generally neglect special items.

Over the course of the quarter, the company has experienced a 14.3% decline in revenue, dropping to $338.343 million compared to $394.657 million the previous year.

A summarizing glance at Teekay Tankers Ltd.'s first-quarter earnings (as per Generally Accepted Accounting Principles) reveals:

* Earnings for Q1 were at $144.771 Mln, down from $169.368 Mln in the previous year.

* Earnings Per Share (EPS) for Q1 was $4.18, compared to $4.90 last year.

* Revenue for Q1 totaled $338.343 Mln, a decrease from last year's $394.657 Mln.