$STNG

Scorpio Tankers Inc.

CIK:0001483934|SEC Filings

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Revenue
Vessel revenue	$ 938,222	$ 1,243,951	$ 1,341,222
Operating expenses
Vessel operating costs	(287,870)	(319,147)	(315,582)
Voyage expenses	(36,913)	(30,371)	(13,243)
Depreciation - vessels and drydock	(180,335)	(185,319)	(178,259)
Depreciation - right of use assets for vessels	0	0	(24,244)
Write-off of deposits on scrubbers	0	0	(10,508)
General and administrative expenses	(123,406)	(121,048)	(106,255)
Gain on sale of vessels	45,486	176,537	12,019
Total operating expenses	(583,038)	(479,348)	(636,072)
Operating income	355,184	764,603	705,150
Other (expenses) and income, net
Financial expenses	(80,131)	(109,539)	(183,231)
Financial income	21,891	15,947	19,112
Share of income from dual fuel tanker joint venture	4,104	7,664	5,950
Dividend income and fair value gain (loss) on financial assets measured at fair value through profit or loss	41,123	(11,176)	0
Other income and (expenses), net	2,121	1,275	(83)
Total other expense, net	(10,892)	(95,829)	(158,252)
Net income	344,292	668,774	546,898
Attributable to:
Equity holders of the parent	$ 344,292	$ 668,774	$ 546,898
Earnings per share
Basic (in USD per share)	$ 7.40	$ 13.78	$ 10.44
Diluted (in USD per share)	$ 7.03	$ 13.15	$ 10.03
Basic weighted average shares outstanding (in shares)	46,554,200	48,544,137	52,369,269
Diluted weighted average shares outstanding (in shares)	48,949,522	50,874,322	54,527,747

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Operating activities
Net income	$ 344,292	$ 668,774	$ 546,898
Depreciation - owned or sale and leaseback vessels	180,335	185,319	178,259
Depreciation - right of use assets	0	0	24,244
Equity settled share based compensation expense	71,654	62,509	47,340
Amortization of deferred financing fees	6,986	9,236	7,292
Non-cash debt extinguishment costs	4,664	3,460	8,320
Net gain on sales of vessels	(45,486)	(176,537)	(12,019)
Write-off of deposits on scrubbers	0	0	10,508
Fair value (gain) / loss on financial assets measured at fair value through profit or loss	(35,181)	14,979	0
Accretion of fair value measurement on debt assumed in business combinations	41	82	1,128
Share of income from dual fuel tanker joint venture	(4,104)	(7,664)	(5,950)
Dividend from financial assets measured at fair value through profit or loss	(5,942)	(3,803)	0
Cash flows from (used) in operating activities before changes in assets and liabilities	517,259	756,355	806,020
Changes in assets and liabilities:
(Increase) / decrease in inventories	(1,746)	(2,034)	7,804
(Increase) / decrease in accounts receivable	(27,317)	57,045	73,201
(Increase) / decrease in prepaid expenses and other current assets	(842)	983	7,944
Decrease in other assets	2,467	1,600	2,884
Increase / (decrease) in accounts payable	5,377	15,722	(16,748)
Decrease in accrued expenses and other current liabilities	(3,972)	(4,491)	(15,613)
Total changes in assets and liabilities	(26,033)	68,825	59,472
Net cash inflow from operating activities	491,226	825,180	865,492
Investing activities
Net proceeds from sales of vessels	227,719	479,778	64,878
Investment in dual fuel tanker joint venture	0	(1,937)	0
Distributions from dual fuel tanker joint venture	3,633	8,851	1,822
Drydock, ballast water treatment system and other vessel related payments (owned, sale leaseback and bareboat-in vessels)	(74,383)	(93,367)	(23,089)
Purchases of financial assets measured at fair value through profit or loss	(45,850)	(89,137)	0
Proceeds from sale of financial assets measured at fair value through profit or loss	155,188	0	0
Dividend from financial assets measured at fair value through profit or loss	5,942	3,803	0
Net cash inflow from investing activities	272,249	307,991	43,611
Financing activities
Debt repayments	(449,524)	(835,680)	(1,224,529)
Issuance of debt	200,000	99,000	1,386,482
Debt issuance costs	(11,747)	(354)	(29,691)
Principal repayments on IFRS 16 lease liabilities	0	0	(516,127)
Decrease in restricted cash	0	0	783
Dividends paid	(82,520)	(83,515)	(57,660)
Repurchase of common stock	(309)	(335,593)	(489,680)
Net cash outflow from financing activities	(344,100)	(1,156,142)	(930,422)
Increase / (decrease) in cash and cash equivalents	419,375	(22,971)	(21,319)
Cash and cash equivalents at January 1,	332,580	355,551	376,870
Cash and cash equivalents at December 31,	751,955	332,580	355,551
Supplemental information:
Interest paid	$ 62,093	$ 96,882	$ 154,653

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 751,955	$ 332,580
Financial assets measured at fair value through profit or loss	0	74,157
Accounts receivable	180,801	150,183
Prepaid expenses and other current assets	10,072	9,230
Inventories	11,919	10,173
Assets held for sale	153,622	0
Total current assets	1,108,369	576,323
Non-current assets
Vessels and drydock	2,741,440	3,190,820
Other assets	59,834	58,312
Goodwill	8,197	8,197
Total non-current assets	2,809,471	3,257,329
Total assets	3,917,840	3,833,652
Current liabilities
Current portion of long-term bank debt	0	122,797
Sale and leaseback liability	19,121	8,592
Accounts payable	34,029	32,213
Accrued expenses and other current liabilities	65,609	73,591
Total current liabilities	118,759	237,193
Non-current liabilities
Long-term bank debt and bonds	600,083	665,887
Sale and leaseback liability	0	64,691
Total non-current liabilities	600,083	730,578
Total liabilities	718,842	967,771
Shareholders’ equity
Common stock, $0.01 par value per share; 150,000,000 and 150,000,000 shares authorized; 51,762,790 and 49,923,042 outstanding shares as of December 31, 2025 and December 31, 2024, respectively.	778	760
Additional paid-in capital	3,231,184	3,159,548
Treasury shares	(1,467,127)	(1,466,818)
Retained earnings	1,434,163	1,172,391
Total shareholders’ equity	3,198,998	2,865,881
Total liabilities and shareholders’ equity	$ 3,917,840	$ 3,833,652