How did TK's earnings surprise in Q4 2024?

Teekay Corporation's (TK) Q4 2024 earnings did not produce a surprise, as the company's net income was in line with expectations, coming in at $81.5 million.

This performance was a notable achievement considering the challenging market conditions and the decline in revenues to $272.6 million, which was a 12.5% decrease from the previous year's $311.7 million. Despite the revenue dip, Teekay managed to maintain profitability, thanks to strong rates for its mid-sized tanker fleet and effective cost management.