Scorpio Tankers Inc. reported its results for the three and nine months ended September 30, 2023. The Company also announced that its board of directors (the “Board of Directors”) has declared a quarterly cash dividend on its common shares of $0.35 per share.

Results for the three months ended September 30, 2023 and 2022

For the three months ended September 30, 2023, the Company had net income of $100.4 million, or $2.01 basic and $1.93 diluted earnings per share.

For the three months ended September 30, 2023, the Company had adjusted net income (see Non-IFRS Measures section below) of $99.2 million, or $1.99 basic and $1.91 diluted earnings per share, which excludes from net income (i) a $6.0 million, or $0.12 per basic and diluted share, write-off or acceleration of the amortization of deferred financing fees on certain lease financing obligations and related debt extinguishment costs, and (ii) a $7.1 million, or $0.14 per basic and diluted share, gain on the sale of a vessel.

For the three months ended September 30, 2022, the Company had net income of $266.2 million, or $4.84 basic and $4.31 diluted earnings per share.

For the three months ended September 30, 2022, the Company had adjusted net income (see Non-IFRS Measures section below) of $264.8 million, or $4.81 basic and $4.29 diluted earnings per share, which excludes from net income (i) a $2.7 million, or $0.05 per basic and $0.04 per diluted share, gain on the sale of a vessel, (ii) $1.4 million, or $0.03 per basic and $0.02 per diluted share, write-off or acceleration of the amortization of deferred financing fees on certain debt or lease financing obligations and related debt extinguishment costs, and (iii) $0.1 million, or $0.00 per basic and diluted share, gain recorded on the repurchase of the Company’s Convertible Notes Due 2025.

Results for the nine months ended September 30, 2023 and 2022

For the nine months ended September 30, 2023, the Company had net income of $426.0 million, or $8.00 basic and $7.68 diluted earnings per share.

For the nine months ended September 30, 2023, the Company had adjusted net income (see Non-IFRS Measures section below) of $428.1 million, or $8.04 basic and $7.72 diluted earnings per share, which excludes from net income (i) a $9.3 million, or $0.17 per basic and diluted share, write-off or acceleration of the amortization of deferred financing fees on certain lease financing obligations and related debt extinguishment costs, and (ii) a $7.1 million, or $0.13 per basic and diluted share, gain on the sale of a vessel.

For the nine months ended September 30, 2022, the Company had net income of $372.8 million, or $6.74 basic and $6.07 diluted earnings per share.

For the nine months ended September 30, 2022, the Company had adjusted net income (see Non-IFRS Measures section below) of $446.0 million, or $8.06 basic and $7.21 diluted earnings per share, which excludes from net income (i) a $66.5 million, or $1.20 per basic and $1.04 per diluted share, aggregate net loss on the sale of vessels, (ii) $7.1 million, or $0.13 per basic and $0.11 per diluted share, write-off or acceleration of the amortization of deferred financing fees on debt or lease financing obligations and related debt extinguishment costs, and (iii) $0.5 million, or $0.01 per basic and diluted share, gain recorded on the repurchases of the Company’s Convertible Notes due 2025.

Declaration of Dividend

On November 9, 2023, the Board of Directors declared a quarterly cash dividend of $0.35 per common share, with a payment date of December 15, 2023 to all shareholders of record as of November 30, 2023 (the record date). As of November 9, 2023, there were 53,107,765 common shares of the Company outstanding.
Source: Scorpio Tankers Inc.