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Scorpio Tankers (STNG) investor relations material
Scorpio Tankers Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Reported Q4 2025 adjusted EBITDA of $151.6 million and net income of $128.1 million, with full-year adjusted EBITDA of $567.9 million and net income of $344.3 million.
Increased quarterly dividend by 12.5% to $0.45 per share, payable in March 2026.
Achieved a net cash position of $308.9 million as of February 2026, with $937.1 million in cash and $1.7 billion in available liquidity.
Upgraded fleet by selling 10 older vessels and investing in 10 newbuilds, including MR, LR2, and VLCC classes, with deliveries through 2029.
Fully exited DHT Holdings investment, realizing a $30 million gain.
Financial highlights
Q4 2025 vessel revenue was $252.7 million, with TCE revenue of $241.4 million and average daily TCE of $28,066.
Adjusted EBITDA margin for Q4 2025 was 60.7%, and net margin was 50.7%.
Net debt reduced to negative $308.9 million as of February 2026, with $937.1 million in cash and $767 million undrawn revolver capacity.
Prepaid $154.6 million in secured credit facilities, covering all scheduled amortization through 2027.
Cash break-even reduced to $11,000 per day, the lowest in company history.
Outlook and guidance
Market fundamentals remain supportive, with strong demand, constrained supply, and elevated product tanker rates.
As of early Q1 2026, 70% of LR2 and 63% of MR revenue days were fixed at average TCEs of $46,000 and $27,500, respectively.
Fleet growth projected to average 3% over the next three years, potentially lower due to aging vessels and sanctions.
Strategy focuses on maintaining a high-quality, modern fleet and returning capital to shareholders.
Dividend policy aims for sustainable growth through the cycle, with regular reviews.
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