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KK TEEKAY CORPORATION REPORTS FIRST QUARTER 2021 RESULTS TEEKAY Highlights GAAP net income attributable to shareholders of Teekay of $ 30.0 million , or $ 0.30 per share , and adjusted net income attributable to shareholders of Teekay ( ¹ ) of $ 11.3 million , or $ 0.11 per share , in the first quarter of 2021 ( excluding items listed in Appendix A to this release ) . Total adjusted EBITDA ( ¹ ) of $ 202.4 million in the first quarter of 2021 . Significant positive progress made on Teekay Parent's wind - down of its FPSO segment . Teekay LNG increased its common unit distributions by 15 percent to $ 1.15 per common unit on an annualized basis , commencing with the first quarter's distribution to be paid in May 2021 ; and secured three LNG charters during March and April 2021 , increasing its LNG fleet to 98 percent fixed for the remainder of 2021 and 89 percent fixed for 2022 . Teekay Tankers declared additional options to repurchase six vessels currently on higher - cost long - term sale leaseback financings , which are expected to close in September 2021 . Hamilton , Bermuda , May 13 , 2021 - Teekay Corporation ( Teekay or the Company ) ( NYSE : TK ) today reported results for the three months ended March 31 , 2021. These results include the Company's two publicly - listed consolidated subsidiaries , Teekay LNG Partners L.P. ( Teekay LNG ) ( NYSE : TGP ) and Teekay Tankers Ltd. ( Teekay Tankers ) ( NYSE : TNK ) ( collectively , the Daughter Entities ) , and all remaining subsidiaries and equity - accounted investments . Teekay , together with its subsidiaries other than the Daughter Entities , is referred to in this release as Teekay Parent . Please refer to the first quarter 2021 earnings releases of Teekay LNG and Teekay Tankers , which are available on Teekay's website at www.teekay.com , for additional information on their respective results . Financial Summary ( in thousands of U.S. dollars , except per share amounts ) TEEKAY CORPORATION CONSOLIDATED GAAP FINANCIAL COMPARISON Revenues Income from vessel operations Equity income Net income ( loss ) attributable to the shareholders of Teekay Income ( loss ) per common share of Teekay NON - GAAP FINANCIAL COMPARISON Total adjusted EBITDA ( ¹ ) Adjusted net income attributable to shareholders of Teekay ( 1 ) Adjusted net income per share attributable to shareholders of Teekay ( 1 ) TEEKAY PARENT NON - GAAP FINANCIAL COMPARISON Teekay Parent adjusted EBITDA ( 1 ) Total Teekay Parent free cash flow ( 1 ) March 31 , 2021 ( unaudited ) 1 NEWS RELEASE 359,081 61,327 37,157 29,951 0.30 202,429 11,320 0.11 13,141 4,108 Three Months Ended December 31 , 2020 ( unaudited ) 362,296 25,795 15,285 ( 19,444 ) ( 0.19 ) 201,061 2,849 0.03 10,553 353 March 31 , 2020 ( unaudited ) Teekay Corporation Investor Relations Tel : +1 604 609 2963 www.teekay.com 4th Floor , Belvedere Building , 69 Pitts Bay Road , Hamilton , HM 08 , Bermuda 574,054 128,896 2,313 ( 49,805 ) ( 0.49 ) 342,198 25,259 0.25 ( 1 ) These are non - GAAP financial measures . Please refer to " Definitions and Non - GAAP Financial Measures " and the Appendices to this release for definitions of these terms and reconciliations of these non - GAAP financial measures as used in this release to the most directly comparable financial measures under United States generally accepted accounting principles ( GAAP ) . 5,139 52,689