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Scorpio Tankers (STNG) investor relations material
Scorpio Tankers Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Reported Q3 2025 adjusted EBITDA of $148.1 million and adjusted net income of $72.7 million ($1.49–$1.56 diluted EPS), with a 5% dividend increase to $0.42 per share payable in December 2025.
Net income for Q3 2025 was $84.5 million, down from $158.7 million in Q3 2024, reflecting lower TCE rates and vessel count.
Liquidity reached $1.415 billion, with pro forma net debt reduced to $33.9 million after vessel sales and debt repayments.
Announced unscheduled prepayments of $154.6 million on secured credit facilities, covering all scheduled principal amortization for 2026 and 2027.
Focused on maintaining a conservative balance sheet, reducing breakeven levels, and enhancing shareholder value.
Financial highlights
Q3 2025 TCE revenue was $232.9 million; adjusted EBITDA reached $148.1 million; adjusted net income was $72.7 million.
Operating cash flow before working capital changes was $135.5 million for the quarter and $375 million year-to-date.
Cash and liquidity as of October 28, 2025, totaled $1.415 billion, including $627 million in cash and $788 million in undrawn revolving credit.
Net debt reduced by $2.3 billion since December 2021, now at $255 million, with further reductions expected.
Average daily TCE revenue for Q3 2025 was $26,231 per vessel, down from $28,488 in Q3 2024.
Outlook and guidance
Scheduled vessel sales and debt prepayments are expected to lower breakeven levels to $11,000 per day, the lowest in company history.
Management remains optimistic for both crude and refined products, expecting a constructive market into Q4 and Q1 2026.
Significant operating leverage: a $10,000/day increase in freight rates could generate ~$350 million in annualized cash flow.
No newbuildings on order, resulting in zero newbuild capex.
LR2 vessels expected to earn $28,500–$31,400 daily TCE; MR vessels $23,500–$23,000; Handymax $20,500–$23,000 in Q4 2025.
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