Scorpio Tankers Inc. Announces Financial Results for the Fourth Quarter of 2025 and an Increase to Its Quarterly Dividend

MONACO, Feb. 12, 2026 (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE: STNG) ("Scorpio Tankers" or the "Company") today reported its results for the three months ended December 31, 2025. The Company also announced that its board of directors (the "Board of Directors") has declared a quarterly cash dividend on its common shares of $0.45 per share.

Results for the three months ended December 31, 2025 and 2024

For the three months ended December 31, 2025, the Company had net income of $128.1 million, or $2.72 basic and $2.59 diluted earnings per share.

For the three months ended December 31, 2025, the Company had adjusted net income (see Non-IFRS Measures section below) of $80.0 million, or $1.70 basic and $1.62 diluted earnings per share, which excludes from net income (i) a $45.5 million, or $0.96 per basic and $0.92 per diluted share, gain on sales of vessels, (ii) a $5.5 million, or $0.12 per basic and $0.11 per diluted share, fair value gain on financial assets measured at fair value, and (iii) a $2.9 million, or $0.06 per basic and diluted share, loss on extinguishment of debt and write-off of deferred financing fees.

For the three months ended December 31, 2024, the Company had net income of $68.6 million, or $1.48 basic and $1.43 diluted earnings per share.

For the three months ended December 31, 2024, the Company had adjusted net income (see Non-IFRS Measures section below) of $30.3 million, or $0.65 basic and $0.63 diluted earnings per share, which excludes from net income (i) a $52.6 million, or $1.13 per basic and $1.09 per diluted share, gain on sales of vessels, (ii) a $13.9 million, or $0.30 per basic and $0.29 per diluted share, fair value loss on financial assets measured at fair value, and (iii) a $0.5 million, or $0.01 per basic and diluted share, loss on extinguishment of debt and write-off of deferred financing fees.

Results for the year ended December 31, 2025 and 2024

For the year ended December 31, 2025, the Company had net income of $344.3 million, or $7.40 basic and $7.03 diluted earnings per share.

For the year ended December 31, 2025, the Company had adjusted net income (see Non-IFRS Measures section below) of $269.5 million, or $5.79 basic and $5.51 diluted earnings per share, which excludes from net income (i) a $45.5 million, or $0.98 per basic and $0.93 per diluted share, gain on sales of vessels, (ii) a $35.2 million, or $0.76 per basic and $0.72 per diluted share, fair value gain on financial assets measured at fair value, and (iii) a $5.9 million, or $0.13 per basic and $0.12 per diluted share, loss on extinguishment of debt and write-off of deferred financing fees.

For the year ended December 31, 2024, the Company had net income of $668.8 million, or $13.78 basic and $13.15 diluted earnings per share.

For the year ended December 31, 2024, the Company had adjusted net income (see Non-IFRS Measures section below) of $512.9 million, or $10.57 basic and $10.08 diluted earnings per share, which excludes from net income (i) a $176.5 million, or $3.64 per basic and $3.47 per diluted share, gain on sales of vessels, (ii) a $2.8 million, or $0.06 per basic and diluted share, gain on sale of a vessel within a joint venture, (iii) a $15.0 million, or $0.31 per basic and $0.29 per diluted share, fair value loss on financial assets measured at fair value, and (iv) a $8.5 million, or $0.18 per basic and $0.17 per diluted share, loss on extinguishment of debt and write-off of deferred financing fees.

Declaration of Dividend

On February 11, 2026, the Company's Board of Directors declared a quarterly cash dividend of $0.45 per common share, with a payment date of March 20, 2026 to all shareholders of record as of March 6, 2026 (the record date). As of February 12, 2026, there were 51,762,790 common shares of the Company issued and outstanding.

Summary of Fourth Quarter 2025 and Other Recent Significant Events

(1) Expected Revenue Days are the total number of calendar days in the quarter for each vessel, less the total number of estimated off-hire days during the period associated with repairs or drydockings. Consequently, Expected Revenue Days represent the total number of days the vessel is expected to be available to earn revenue. Idle days, which are days when a vessel is available to earn revenue, yet is not employed, are included in revenue days. The Company uses revenue days to show changes in net vessel revenues between periods.

Securities Repurchase Program

As of February 10, 2026, there is $173.4 million available under the Company's 2023 Securities Repurchase Program.

Diluted Weighted Number of Shares

The computation of earnings per share is determined by taking into consideration the potentially dilutive shares arising from the Company’s equity incentive plan. Potentially dilutive shares are excluded from the computation of earnings per share to the extent they are anti-dilutive.

For the three months ended December 31, 2025, the Company’s basic weighted average number of shares outstanding was 47,148,749. For the three months ended December 31, 2025, the Company’s diluted weighted average number of shares outstanding was 49,422,642, which included the potentially dilutive impact of restricted shares issued under the Company’s equity incentive plan.

Conference Call

Title: Scorpio Tankers Inc. Fourth Quarter 2025 Conference Call

Date: Thursday, February 12, 2026

Time: 9:00 AM Eastern Standard Time and 3:00 PM Central European Time

The conference call will be available over the internet, through the Scorpio Tankers Inc. website www.scorpiotankers.com and the webcast link:

https://edge.media-server.com/mmc/p/9dhrip82

Participants for the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.

The conference will also be available telephonically:

US/CANADA Dial-In Number: 1-833-636-1321

International Dial-In Number: +1-412-902-4260

Please ask to join the Scorpio Tankers Inc. call.

Participants should dial into the call 10 minutes before the scheduled time.

Current Liquidity

As of February 10, 2026, the Company had $937.1 million in unrestricted cash and cash equivalents and $767.0 million of undrawn revolver capacity, which includes $241.2 million of availability under the revolving portion of the 2023 $1.0 Billion Credit Facility, $25.8 million of availability under the 2023 $225.0 Million Revolving Credit Facility and $500.0 million of availability under the 2025 $500.0 Million Revolving Credit Facility.

The sales of STI Kingsway and STI Gallantry for $57.5 million and $52.3 million, respectively, are expected to close in the first or second quarter of 2026. The debt related to STI Gallantry was repaid in the fourth quarter of 2025 and there is no debt outstanding related to STI Kingsway.

Debt

Set forth below is a summary of the principal balances of the Company’s outstanding indebtedness as of the dates presented:

(1) In November 2025, the Company entered into an agreement to sell four 2014 built scrubber-fitted MR product tankers, STI Battery, STI Venere, STI Milwaukee and STI Yorkville, for $32.0 million per vessel. In advance of these sales, an aggregate of $29.2 million was repaid in November 2025 on the 2023 $225.0 Million Revolving Credit Facility, with a corresponding $12.0 million reduction in the undrawn availability of the facility. The amount paid on the revolver may not be re-borrowed.

(2) In December 2025, the Company prepaid eight quarters of term loan amortization of $9.2 million on the 2023 $49.1 Million Credit Facility, from and including Q1 2026 through and including Q4 2027.

(3) In November 2025, the Company prepaid eight quarters of term loan amortization of $34.0 million on the 2023 $117.4 Million Credit Facility, from and including Q1 2026 through and including Q4 2027.

(4) In October 2025, the Company repaid an aggregate $14.0 million on the term loan portion of the 2023 $1.0 Billion Credit Facility in advance of the sales of two 2019 built scrubber-fitted LR2 product tankers, STI Lobelia and STI Lavender, with a corresponding $30.7 million reduction in the undrawn availability of the revolving portion of the facility. These sales closed in December 2025 and January 2026, respectively.

In November 2025, the Company prepaid six quarters of term loan amortization of $84.5 million and revolver amortization of $7.6 million on the 2023 $1.0 Billion Credit Facility, from and including Q3 2026 through and including Q4 2027. The Company will be able to re-borrow the amount paid on the revolver, subject to its amortization profile.

In December 2025, the Company repaid $0.3 million on the term loan portion and $13.5 million on the revolving portion of the 2023 $1.0 Billion Credit Facility in advance of the sale of the 2016 built scrubber-fitted LR2 product tanker, STI Goal, which was agreed to be sold in December 2025 for $52.3 million and delivered to its buyer in February 2026. The amount paid on the revolver may not be re-borrowed.

In January 2026, the 2015 built scrubber-fitted LR2 product tanker, STI Kingsway, was released as collateral on the 2023 $1.0 Billion Credit Facility, with a corresponding $13.7 million reduction in the undrawn availability of the revolving portion of the facility.

(5) In November 2025, the Company prepaid eight quarters of term loan amortization of $19.3 million on the 2023 $94.0 Million Credit Facility, from and including Q1 2026 through and including Q4 2027.

(6) In July 2025, the Company submitted notice to exercise the purchase option on the LR2 product tanker that is financed under this arrangement, STI Symphony. This vessel is scheduled to be purchased in February 2026 and the outstanding lease obligation on the date of purchase is scheduled to be $18.9 million.

(7) In December 2025, the Company repaid the outstanding lease obligations on the two LR2 product tankers, STI Guard and STI Gallantry, that were financed under this arrangement for $46.8 million in aggregate.

Set forth below are the estimated expected future principal repayments on the Company's outstanding indebtedness, which includes principal amounts due under the Company's secured credit facilities, lease financing arrangements and Unsecured Senior Notes Due 2030 (which also include actual scheduled payments made from January 1, 2026 through February 10, 2026):

(1) Amounts represent the principal payments due on the Company’s outstanding indebtedness as of December 31, 2025.

(2) The unscheduled prepayment reflects the outstanding lease liability on STI Symphony, which is currently financed under the Ocean Yield Lease Financing. In July 2025, the Company submitted notice to exercise the purchase option on this vessel in February 2026.

Newbuilding Vessels

As of February 10, 2026, the Company had commitments to construct (i) four scrubber-fitted LR2 newbuilding product tankers, two with expected deliveries in the third quarter of 2027, one expected to be delivered in third quarter of 2029 and one expected to be delivered in the fourth quarter of 2029, (ii) four scrubber-fitted MR newbuilding product tankers with a delivery in each of the second and fourth quarters of 2026 and the first and second quarters of 2027 and (iii) two scrubber-fitted newbuilding VLCCs with deliveries expected in the third and fourth quarters of 2028.

The table below summarizes the estimated installment payment for the vessels under construction as of February 10, 2026 (1):

(1) The installment payments are estimates only and are subject to change as construction progresses.

Drydock and Off-Hire Update

Set forth below is a table summarizing the drydock activity that occurred during the fourth quarter of 2025 and the estimated expected payments to be made for the Company's drydocks through the end of 2027. This table also includes an estimate of off-hire days for these periods which includes (i) estimated off-hire days for drydocks, and (ii) estimated off-hire time for general repairs.

(1) These costs include estimated cash payments for drydocks. These amounts may include costs incurred for previous projects for which payments may not be due until subsequent quarters, or payments that are due in advance of the scheduled service and may be scheduled to occur in quarters prior to the actual drydocks. The timing of the payments set forth are estimates only and may vary as the timing of the related drydocks finalize.

(2) Represents the total estimated off-hire days during the period for both drydockings or general repairs, including vessels that commenced work in a previous period. The number of off-hire days set forth in this table are estimates only and actual off-hire days may vary.

(3) Represents the number of vessels scheduled to commence drydock. It does not include vessels that commenced work in prior periods but will be completed in a subsequent period. Additionally, the timing set forth in these tables may vary as drydock times are finalized.

Explanation of Variances on the Fourth Quarter of 2025 Financial Results Compared to the Fourth Quarter of 2024

For the three months ended December 31, 2025, the Company recorded net income of $128.1 million compared to net income of $68.6 million for the three months ended December 31, 2024. The following were the significant changes between the two periods:

TCE revenue for the three months ended December 31, 2025 increased as compared to the same period in the previous year. Both periods were characterized by steady underlying demand for refined petroleum products. During the three months ended December 31, 2025, the product tanker market strengthened compared to the prior-year period, supported by increased seaborne exports and tighter vessel supply. On the demand side, geopolitical disruptions, sanctions enforcement, and refinery outages lengthened trade routes and created regional imbalances for refined products. On the supply side, a strong crude tanker market incentivized larger product tankers to trade crude oil, reducing the number of vessels available for clean-product transportation. Together, these factors contributed to higher average daily TCE rates compared to the three months ended December 31, 2024.

(1) The computation of diluted earnings per share for the three months and year ended December 31, 2025 and 2024, includes the effect of potentially dilutive unvested shares of restricted stock.

Dividend Policy

The declaration and payment of dividends is subject at all times to the discretion of the Company's Board of Directors. The timing and the amount of dividends, if any, depends on the Company's earnings, financial condition, cash requirements and availability, fleet renewal and expansion, restrictions in loan agreements, the provisions of Marshall Islands law affecting the payment of dividends and other factors.

The Company's dividends paid during 2024 and 2025 were as follows:

About Scorpio Tankers Inc.

Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers Inc. currently owns or lease finances 91 product tankers (35 LR2 tankers, 42 MR tankers and 14 Handymax tankers) with an average age of 10.0 years. The Company has entered into an agreements to sell two LR2 product tankers, which are expected to close in the first quarter or second quarter of 2026. The Company has also reached agreements for four MR newbuildings that are currently under construction with deliveries expected in 2026 and 2027, four LR2 newbuildings with deliveries expected in 2027 and 2029 and two VLCC newbuildings with deliveries expected in the second half of 2028. Additional information about the Company is available at the Company's website www.scorpiotankers.com. Information on the Company’s website does not constitute a part of and is not incorporated by reference into this press release.

Non-IFRS Measures

Reconciliation of IFRS Financial Information to Non-IFRS Financial Information

This press release describes time charter equivalent revenue, or TCE revenue, adjusted net income or loss, and adjusted EBITDA, which are not measures prepared in accordance with IFRS ("Non-IFRS" measures). The Non-IFRS measures are presented in this press release as we believe that they provide investors and other users of our financial statements, such as our lenders, with a means of evaluating and understanding how the Company's management evaluates the Company's operating performance. These Non-IFRS measures should not be considered in isolation from, as substitutes for, or superior to financial measures prepared in accordance with IFRS.

The Company believes that the presentation of TCE revenue, adjusted net income or loss with adjusted earnings or loss per share, basic and diluted, and adjusted EBITDA are useful to investors or other users of our financial statements, such as our lenders, because they facilitate the comparability and the evaluation of companies in the Company’s industry. In addition, the Company believes that TCE revenue, adjusted net income or loss with adjusted earnings or loss per share, basic and diluted, and adjusted EBITDA are useful in evaluating its operating performance compared to that of other companies in the Company’s industry. The Company’s definitions of TCE revenue, adjusted net income or loss with adjusted earnings or loss per share, basic and diluted, and adjusted EBITDA may not be the same as reported by other companies in the shipping industry or other industries.

TCE revenue, on a historical basis, is reconciled above in the section entitled "Explanation of Variances on the Fourth Quarter of 2025 Financial Results Compared to the Fourth Quarter of 2024". The Company has not provided a reconciliation of forward-looking TCE revenue because the most directly comparable IFRS measure on a forward-looking basis is not available to the Company without unreasonable effort.

Reconciliation of Net Income to Adjusted Net Income

(1) Summation difference due to rounding

Reconciliation of Net Income to Adjusted EBITDA (1)

(1) Adjusted EBITDA is calculated by taking Net Income and adding back Financial Expenses (which include interest expense and amortization and write offs of deferred financing fees), Financial Income (which includes interest income), Depreciation, Equity settled share based compensation (which represents the amortization of restricted stock awards), gains and losses on asset sales, and fair value adjustments on investments measured at fair value.

Forward-Looking Statements

Matters discussed in this press release may constitute forward‐looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward‐looking statements in order to encourage companies to provide prospective information about their business. Forward‐looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe," "expect," "anticipate," "estimate," "intend," "plan," "target," "project," "likely," "may," "will," "would," "could" and similar expressions identify forward‐looking statements.

The forward‐looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties. Although management believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the Company’s control, there can be no assurance that the Company will achieve or accomplish these expectations, beliefs or projections. The Company undertakes no obligation, and specifically declines any obligation, except as required by law, to publicly update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise.

In addition to these important factors, other important factors that, in the Company’s view, could cause actual results to differ materially from those discussed in the forward‐looking statements include unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, expansion and growth of the Company’s operations, risks relating to the integration of assets or operations of entities that it has or may in the future acquire and the possibility that the anticipated synergies and other benefits of such acquisitions may not be realized within expected timeframes or at all, the failure of counterparties to fully perform their contracts with the Company, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for tanker vessel capacity, changes in the Company’s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company’s vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, including without limitation the potential expenses incurred under the recently implemented port fee regimes in the United States and China that may be applicable to certain of our vessels, the impact of the current and future sanctions that may impact the transportation of petroleum products, potential liability from pending or future litigation, general domestic and international political conditions, which have and may continue to disrupt certain global shipping routes, vessel breakdowns and instances of off‐hires, and other factors. Please see the Company's filings with the SEC for a more complete discussion of certain of these and other risks and uncertainties.

Contact Information

Scorpio Tankers Inc.

James Doyle - Head of Corporate Development & Investor Relations

Tel: +1 203-900-0559

Email: investor.relations@scorpiotankers.com