The results include the company’s two publicly-listed consolidated subsidiaries Teekay LNG Partners L.P. and Teekay Tankers Ltd.; one equity-accounted investment in publicly-listed Teekay Offshore Partners L.P.; and all remaining subsidiaries and equity-accounted investments of the company.

Highlights:

  • Reported consolidated GAAP net loss attributable to shareholders of Teekay of US$20.6 million, or US$0.21 per share, and consolidated adjusted net loss attributable to shareholders of Teekay of US$18.3 million, or US$0.19 per share, in Q1 2018.
  • Generated GAAP consolidated income from vessel operations of US$18.5 million and consolidated total cash flow from vessel operations of US$168.4 million in Q1 2018.
  • Since the beginning of 2018, Teekay LNG has taken delivery of four LNG carriers, all on long-term charter contracts, and one mid-sized LPG carrier.
  • Since the beginning of 2018, Teekay Offshore’s Petrojarl I FPSO and two remaining East Coast Canada shuttle tankers commenced their respective charter contracts.
  • As of 31 March 2018, Teekay consolidated and Teekay Parent total liquidity of approximately US$1 billion and US$480 million, respectively.