Scorpio Tankers Reports Strong Q2 2026 TCE Rates, Updates Diluted Share Count
STNG has more than doubled off its 52-week low of $38.83.
Summary
Scorpio Tankers announced strong Q2 2026 TCE rates, with LR2 tankers achieving $80,000/day, indicating robust operational performance. The company also provided an update on its estimated diluted shares outstanding for the quarter.
Key Events · Earnings and Guidance · STNG
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Strong Q2 TCE Rates Reported
Scorpio Tankers updated its average daily Time Charter Equivalent (TCE) rates for Q2 2026, reporting $80,000 for LR2 tankers (88% covered), $53,000 for MR tankers (90% covered), and $54,000 for Handymax tankers (80% covered). These rates are strong indicators of healthy market conditions and robust revenue generation.
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Diluted Shares Outstanding Update
The company estimates its fully diluted weighted average shares outstanding for Q2 2026 to be between 53 to 54 million shares. This estimate includes the dilutive effect of convertible senior notes issued in April and May 2026, which were previously disclosed.
Analysis · STNG · Energy & Transportation
Scorpio Tankers provided an update on its Q2 2026 Time Charter Equivalent (TCE) rates, which are a key indicator of profitability for shipping companies. The reported rates, particularly for LR2 tankers at $80,000 per day, are robust and suggest strong operational performance for the quarter. This positive operational update is crucial for investors assessing the company's near-term earnings potential. Additionally, the company updated its estimated diluted shares outstanding for Q2, reflecting the impact of convertible notes issued in April and May, which is important for accurate EPS calculations.
At the time of this filing, STNG was trading at $80.58 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $4.2B. The 52-week trading range was $38.83 to $87.39. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.