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Comparing Euronav’s, Frontline’s, and Teekay Tankers’ Earnings

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Jun. 29 2018, Updated 7:34 a.m. ET

Q1 2018 earnings

Previously, we compared five crude tanker companies’ Q1 2018 revenue. In this article, we’ll look at their Q1 2018 EBITDA. A company’s financial performance is indicated by its EBITDA metric, which reflects a company’s operating profit. As crude tanker companies are capital-intensive operations and have high non-cash costs, including depreciation, their performance might be best assessed using their EBITDA metrics.

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Comparing Q1 2018 earnings

  • In Q1 2018, Euronav’s (EURN) EBITDA fell sequentially and 75% YoY (year-over-year), to the company’s lowest level in 12 quarters. Euronav recorded EBITDA of $25.7 million in the first quarter, compared with $49.2 million in Q4 2017 and $101.25 million in Q1 2017.
  • Navios Maritime Midstream Partners’ (NAP) EBITDA fell YoY to $13.7 million from $14.2 million due to lower revenue and higher general and administrative expenses partially offset by lower time charter expenses and management fees.
  • Teekay Tankers’ (TNK) EBITDA fell sequentially to $21.0 million from $30.1 million and 45% YoY from $38.4 million.
  • Tsakos Energy Navigation’s (TNP) EBITDA fell sequentially to $44.1 million from $52.5 million and YoY from $62.0 million.
  • Frontline’s (FRO) EBITDA fell sequentially to $34.6 million from $60.1 million and YoY from $97.3 million.
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