Scorpio Tankers (STNG) Q1 2026 earnings summary

Executive summary

• Achieved adjusted EBITDA of $214.1 million and adjusted net income of $150.9 million for Q1 2026, with basic EPS of $3.20 and diluted EPS of $3.02.

• Net income for Q1 2026 was $216.3 million, up from $58.2 million in Q1 2025.

• Declared a quarterly dividend of $0.45 per share, payable in June 2026, with 50.4 million shares outstanding as of May 4, 2026.

• Repurchased 1,344,809 shares for $100 million in April 2026 and increased the securities repurchase program to $500 million.

• Issued $375 million in convertible senior notes due 2031 at a 1.75% coupon rate.

Financial highlights

• Q1 2026 TCE revenue reached $303 million, adjusted EBITDA $214.1 million, and adjusted net income $151 million.

• Vessel revenue for Q1 2026 was $312.9 million, up from $214 million in Q1 2025.

• Net debt reduced to $876 million pro forma as of May 1, 2026, down from $2.9 billion in 2021.

• Cash and cash equivalents as of March 31, 2026 were $984.3 million, rising to $1.4 billion by May 1, 2026.

• No debt maturities until 2028 and limited newbuilding commitments.

Outlook and guidance

• Product tanker market supported by robust global demand, longer trade routes, and constrained supply.

• Seaborne product exports expected to rebound as flows normalize and inventories restock.

• Fleet growth likely overstated due to ageing and sanctioned vessels, supporting a favorable supply-demand balance.

• Several vessel sales and newbuilding deliveries scheduled through 2029, supporting fleet renewal and capital allocation.