Scorpio Tankers: Skyrocketing Rates, Lower Cash Breakeven, Shares Trading Below NAV [Seeking Alpha]
Scorpio Tankers Inc. Common Shares (STNG)
Last scorpio tankers inc. common shares earnings: 2/19 06:40 am
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US:NYSE Investor Relations:
scorpiotankers.com/investors/shareholder-services/stock-price-information
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Source: Seeking Alpha
At current rates, STNG should generate significant cash flow for deleveraging, dividends, and share repurchases. We estimate STNG could reduce its share count by 13% to 18%, all things equal. The resolution of geopolitical conflicts will reduce rates. Moreover, supply growth will accelerate, as the order book as a percentage of total fleet has begun to pick up. However, as the market fleet is aging (13 years), we believe that scrapping activity will help offset future fleet growth. Shares are trading at 0.9x NAV and 4x FCF. STNG bull case is further strengthened by 1) young age fleet vs. the market and 2) 77% of the fleet is already scrubber-fitted. Investment Thesis The increasing product rates, driven by ongoing geopolitical tensions, weather disruptions, and dislocated refineries, could propel STNG to exceed consensus expectations. Given the current constrained supply environment and lower cash breakeven levels, STNG is poised to generate massive free cash flow, which co
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STNG
News
- Scorpio Tankers (STNG) Earnings Expected to Grow: What to Know Ahead of Next Week's Release [Yahoo! Finance]Yahoo! Finance
- Can Scorpio Tankers Stock (NYSE:STNG) Regain Momentum as the Industry Booms? [Yahoo! Finance]Yahoo! Finance
- Scorpio Tankers Inc. Announces That on May 9, 2024, the Company Plans to Issue Its First Quarter 2024 Results and Have a Conference CallGlobeNewswire
- Scorpio Tankers' (NYSE:STNG) earnings growth rate lags the 61% CAGR delivered to shareholders [Yahoo! Finance]Yahoo! Finance
- Scorpio Tankers: 2024 Is On Pace To Be Another Transformational Year [Seeking Alpha]Seeking Alpha
STNG
Earnings
- 2/14/24 - Beat
STNG
Sec Filings
- 4/19/24 - Form 6-K
- 4/16/24 - Form 6-K
- 4/2/24 - Form 144
- STNG's page on the SEC website