Teekay Tankers – TNK – Doing Exactly What They Said: Deleveraging Rapidly -TNK posted 1Q20 diluted EPS of $3.24 (excluding one-time items), easily beating our forecast of $3.02 and the average Street estimate of $2.91 on a stronger-than-projected top line. Like all tanker companies in 1Q, TNK benefitted from near-record rates, which carried over well into 2Q setting the company up for another very profitable period. – OUTPERFORM – Evercore – May 21, 2020