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KK TEEKAY CORPORATION REPORTS THIRD QUARTER 2021 RESULTS TEEKAY ● Highlights GAAP net loss attributable to shareholders of Teekay of $ 2.9 million , or $ 0.03 per share , and adjusted net income attributable to shareholders of Teekay ( ¹ ) of $ 0.1 million in the third quarter of 2021 ( excluding items listed in Appendix A to this release ) . Total adjusted EBITDA ( ¹ ) of $ 165.2 million in the third quarter of 2021 . On October 4 , 2021 , Teekay LNG announced an agreement for Stonepeak to acquire all of Teekay LNG's outstanding common units and general partner units for $ 17.00 per unit in cash , representing total gross proceeds of approximately $ 640 million to Teekay Parent . The Transaction ( as defined below ) is subject to certain closing conditions , including approval by the holders of a majority of Teekay LNG's outstanding common units . In September 2021 , Teekay Parent secured a new minimum six - year contract with the Australian Government to provide marine services for five Department of Defence vessels . Hamilton , Bermuda , November 4 , 2021 - Teekay Corporation ( Teekay or the Company ) ( NYSE : TK ) today reported results for the three and nine months ended September 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 third 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 ( loss ) from vessel operations Equity income Net loss attributable to the shareholders of Teekay 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 earnings 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 ) September 30 , 2021 ( unaudited ) NEWS RELEASE 320,353 18,985 38,365 ( 2,913 ) ( 0.03 ) 165,187 95 13,712 5,791 Three Months Ended June 30 , 2021 ( unaudited ) 325,480 ( 27,120 ) 28,111 ( 1,844 ) ( 0.02 ) 171,928 30 5,504 ( 3,181 ) September 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 396,517 11,384 24,392 ( 35,407 ) ( 0.35 ) 226,998 15,229 0.15 3,271 ( 17,135 ) ( 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 ) . 1