So far in 2025, Teekay Tankers has sold or agreed to sell 11 vessels for total gross proceeds of $340 million and estimated book gains on sale of approximately $100 million.
Teekay Tankers generated $128 million in free cash flow in the first half of 2025 with no debt on the balance sheet.
Teekay Tankers reported GAAP net income of $62.6 million or $1.81 per share and adjusted net income of $48.7 million or $1.41 per share in the second quarter.
The company declared its regular quarterly fixed dividend of $0.25 per share.
The company generated approximately $62.8 million in free cash flow from operations in Q2 and had a cash and short-term investment position of $712 million with no debt at quarter end.
Adjusted EBITDA for the first 6 months of 2025 was $68.1 million, a record for current segments and $3.1 million above the upper range of prior guidance.
Completion Fluids & Products segment saw adjusted EBITDA margins increase by 100 basis points to 36.7%.
Free cash flow from the base business was strong at $37 million in Q2 and $53 million for the first half of 2025.
Industrial Chemicals grew 5.5% year-over-year, outpacing U.S. and global GDP growth.
Liquidity improved to approximately $219 million with a net leverage ratio of 1.2x trailing 12 months EBITDA.
Revenue increased 11% sequentially and 1% year-over-year, while adjusted EBITDA grew 17% year-over-year.
TETRA achieved an adjusted EBITDA of $35.9 million for Q2 2025 with margins of 20.6% and base business free cash flow of $37.4 million, exceeding expectations.
Water and Flowback Services revenue was flat sequentially but declined 10% year-over-year, outperforming U.S. frac activity declines.
Water & Flowback adjusted EBITDA margins declined to 10% from 13% due to nearly $2 million of nonrecurring costs, but would have been flat excluding those costs.
Dafinchi