Scorpio Tankers Posts $224.3 Million Q3 Net Income, Beating Analyst Estimates

Scorpio Tankers Inc. (STNG) reported third-quarter net income of $224.3 million on Wednesday, with adjusted earnings of $2.49 per share that exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.83 per share. On a per-share basis, net income came to $4.60, adjusted for non-recurring gains. The Monaco-based shipping company posted revenue of $266.5 million for the period, with adjusted revenue of $249.1 million.