Scorpio Tankers Inc. (NYSE:STNG) Q1 2023 Results Conference Call May 2, 2023 8:00 AM ET

Company Participants

James Doyle - Head of Corporate Development and Investor Relations

Emanuele Lauro - Chief Executive Officer

Robert Bugbee - President

Cameron Mackey - Chief Operating Officer

Brian Lee - Chief Financial Officer

Lars Dencker Nielsen - Commercial Director

Conference Call Participants

John Chappell - Evercore

Omar Nokta - Jefferies

Samuel Bland - JP Morgan

Kenneth Hoexter - Bank of America

Frode Morkedal - Clarkson Securities

Liam Burke - B. Riley FBR

Christopher Robertson - Deutsche Bank

Operator

Ladies and gentlemen, good day, and welcome to the Scorpio Tankers Inc., First Quarter 2023 Conference Call.

I would now like to turn the call over to James Doyle, Head of Corporate Development and IR. Please go ahead, sir.

James Doyle

Thank you for joining us today. Welcome to the Scorpio Tankers’ First Quarter 2022 Earnings Conference Call. On the call with me today are Emanuele Lauro, Chief Executive Officer; Robert Bugbee, President; Cameron Mackey, Chief Operating Officer; Brian Lee, Chief Financial Officer; Chris Avella, Chief Accounting Officer; Lars Dencker Nielsen, Commercial Director.

Earlier today, we issued our first quarter earnings press release, which is available on our website, scorpiotankers.com. The information discussed on this call is based on information as of today, May 2, 2023 and may contain Forward-Looking Statements that involve risk and uncertainty. Actual results may differ materially from those set forth in such statements.

For a discussion of these risks and uncertainties, you should review the forward-looking statement disclosure in the earnings press release, as well as Scorpio Tankers’ SEC filings, which are available at scorpiotankers.com and sec.gov.

All participants are advised that the audio of this conference call is being broadcasted live on the Internet and is also being recorded for playback purposes. An archive of the webcast will be made available on the Investor Relations page of our website for approximately 14-days.

We will be giving a short presentation today. The presentation is available at scorpiotankers.com on the Investor Relations page under Reports and Presentation. The slides will also be available on the webcast.

After the presentation, we will go to Q&A. For those asking questions, please limit the number of questions to two. If you have any additional question, please rejoin the queue.

Now I would like to introduce our Chief Executive Officer, Emanuele Lauro.

Emanuele Lauro

Thank you, James, and thank you for joining us today. In the first quarter, the company generated 286 million in EBITDA and 196 million in adjusted net income. This compares with the first quarter last year when the company generated an adjusted loss of around $15 million. So we are starting 2023 with $210 million more in adjusted net income compared to 2022.