Scorpio Tankers Q2 Earnings Surge to $387.5M, Declares $0.45 Dividend, and Details $605M Convertible Notes Issuance
STNG sits 73% above its 52-week low of $43.78.
Summary
Scorpio Tankers reported Q2 net income of $387.5 million, up 427% year-over-year, declared a $0.45 dividend, and detailed a $605 million convertible notes offering that funded aggressive debt reduction and share buybacks.
Key Events · Earnings and Guidance · STNG
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Q2 Net Income Soars to $387.5M
Net income reached $387.5 million ($8.47 basic EPS), compared with $73.5 million a year ago, as average daily TCE rates hit $77,749 for LR2s and $52,027 for MRs amid Middle East disruptions.
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$605M Convertible Notes Issued at Favorable Terms
The company issued $605 million in convertible senior notes due 2031 at a 1.75% coupon with a conversion price of approximately $100.39 per share—a 32% premium to the current stock price—reflecting strong institutional demand.
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Aggressive Deleveraging and Share Buybacks
Secured debt repayments totaled $389.1 million, $200 million in 7.5% senior notes were redeemed, and 1,994,236 shares were repurchased at an average price of $77.72, leaving $445 million remaining under the repurchase program.
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Dividend Maintained at $0.45 per Share
The board declared a quarterly cash dividend of $0.45 per share, payable August 31, 2026 to shareholders of record as of August 17, 2026.
Analysis · STNG · Energy & Transportation
A massive earnings beat propelled net income to $387.5 million from $73.5 million a year ago, fueled by record TCE rates amid Middle East disruptions. Simultaneously, the company executed a $605 million convertible notes offering at a 1.75% coupon and a conversion price well above the current stock price, signaling strong institutional demand. Proceeds were channeled into aggressive deleveraging—$389.1 million in secured debt was repaid and $200 million in high-interest notes were redeemed—while nearly 2 million shares were repurchased. The balance sheet now sits net cash positive with $2 billion in liquidity, and the fleet is expanding through newbuilding orders and a VLCC joint venture. This quarter fundamentally reshapes the investment thesis: earnings power has structurally improved, leverage is dramatically reduced, and growth is funded without shareholder dilution at current prices.
How filings like this one have moved
In the 30 days to Sep 11, 2026, 42.5% of the 522 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.49%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, STNG was trading at $75.82 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $3.9B. The 52-week trading range was $43.78 to $87.39. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.