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KK TEEKAY CORPORATION REPORTS SECOND QUARTER 2021 RESULTS TEEKAY ● Highlights GAAP net loss attributable to shareholders of Teekay of $ 1.8 million , or $ 0.02 per share , and adjusted net income attributable to shareholders of Teekay ( ¹ ) of $ 30 thousand in the second quarter of 2021 ( excluding items listed in Appendix A to this release ) . Total adjusted EBITDA ( ¹ ) of $ 171.9 million in the second quarter of 2021 . Teekay Parent reduced its asset retirement obligation ( ARO ) associated with the Banff FPSO by approximately $ 33 million in the second quarter of 2021 . Teekay LNG's LNG fleet is 98 percent fixed for the remainder of 2021 and 89 percent fixed for 2022 . Teekay Tankers counter - cyclically in - chartered three Aframax - sized vessels for periods of 18 to 24 months , plus extension options . Hamilton , Bermuda , August 5 , 2021 - Teekay Corporation ( Teekay or the Company ) ( NYSE : TK ) today reported results for the three and six months ended June 30 , 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 second 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 ( Loss ) income from vessel operations Equity income Net ( loss ) income attributable to the shareholders of Teekay ( Loss ) income 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 TEEKAY PARENT ( 1 ) NON - GAAP FINANCIAL COMPARISON Teekay Parent adjusted EBITDA ( 1 ) Total Teekay Parent free cash flow ( 1 ) June 30 , 2021 ( unaudited ) 1 325,480 ( 27,120 ) 28,111 ( 1,844 ) ( 0.02 ) NEWS RELEASE 171,928 30 5,504 ( 3,181 ) Three Months Ended March 31 , 2021 ( unaudited ) 359,081 61,327 37,157 29,951 0.30 202,429 11,320 0.11 13,141 4,108 June 30 , 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 482,805 148,504 35,343 21,723 0.21 315,869 39,713 0.39 ( 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 ) . 9,716 ( 1,886 )