Scorpio TankersNYSE: STNG

MONACO, June 17, 2024 (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE:STNG) (“Scorpio Tankers,” or the “Company”) announced updates on its securities repurchase program and second quarter of 2024 daily TCE revenues.

MONACO, June 11, 2024 (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE:STNG) (“Scorpio Tankers,” or the “Company”) announced today that it has entered into agreements to sell five MR product tankers (four 2012 built and one 2013 built). The 2012 built vessels (three of which are scrubber fitted), STI Garnet, STI Onyx, STI Ruby, and STI Topaz, have been contracted to be sold for $142.5 million in aggregate to three separate buyers. The 2013 built vessel, STI Beryl (which is not scrubber fitted), has been contracted to be sold for $36.6 million. The Company will make no debt repayments associated with these sales as these vessels are unencumbered. The sales are expected to close within the third quarter of 2024.

MONACO, May 20, 2024 (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE: STNG ) ("Scorpio Tankers," or the "Company") announced today that it has received approval from majority lenders under its 2023 $1.0 Billion Credit Facility to make an unscheduled repayment on the term portion of this credit facility in June 2024 of $223.6 million. This prepayment is to be applied against the eight quarterly principal installments of the term loan falling due between the third quarter of 2024 and the second quarter of 2026. Given the lower debt service costs arising from this prepayment, the Company's cash break even rates are expected to decrease by approximately $3,500 per day for the first year following this prepayment.

Scorpio Tankers (STNG) lacks the necessary elements for a potential earnings surprise in its upcoming report. Be ready with the important projections.

Scorpio Tankers (STNG) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

In the closing of the recent trading day, Scorpio Tankers (STNG) stood at $71.77, denoting a -0.42% change from the preceding trading day.

Scorpio Tankers (STNG) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Zacks.com users have recently been watching Scorpio Tankers (STNG) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.