Teekay Tankers Ltd. (TNK) Q2 2023 Earnings Call Transcript

Teekay Tankers Ltd. (NYSE:TNK) Q2 2023 Earnings Conference Call August 3, 2023 11:00 AM ET

Company Participants

Kevin Mackay - President and Chief Executive Officer
Stewart Andrade - Chief Financial Officer

Conference Call Participants

Jon Chappell - Evercore ISI
Omar Nokta - Jefferies
Nathan Ho - Bank of America

Operator

Welcome to Teekay Tankers Ltd. Second Quarter 2023 Earnings Results Conference Call. During the call, all participants will be in a listen-only mode. Afterwards, you'll be invited to participate in a question-and-answer session. [Operator Instructions] As a reminder, this call is being recorded.

Now, for opening remarks and introductions, I would like to turn the call over to the company. Please go ahead.

Unidentified Company Representative

Before we begin, I would like to direct all participants to our website at www.teekay.com, where you will find a copy of the second quarter 2023 earnings presentation. Kevin and Stewart will review this presentation during today's conference call.

Please allow me to remind you that our discussion today contains forward-looking statements. Actual results may differ materially from results projected by those forward-looking statements.

Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in the second quarter 2023 earnings release and earnings presentation available on our website.

I will now turn the call over to Kevin Mackay, Teekay Tankers' President and CEO, to begin.

Kevin Mackay

Thank you, Ed. Hello, everyone, and thank you very much for joining us today for Teekay Tankers' Second Quarter 2023 Earnings Conference Call. Joining me on the call today are Stewart Andrade, Teekay Tankers' CFO; and Christian Waldegrave, our Director of Research.

Moving to our recent highlights on slide three of the presentation, Teekay Tankers generated total adjusted EBITDA of approximately $185 million in the second quarter, more than triple