Why Shares of Teekay LNG Are Surging Today

Shares of Teekay LNG (NYSE: TGP) climbed more than 13% on Thursday after the energy-focused shipping company reported quarterly earnings that beat expectations and said a previously delayed regasification terminal located in Bahrain should begin operations before year's end.

Before markets opened Thursday, Teekay LNG reported third-quarter adjusted earnings of $0.55 per share, or $0.51 per share without adjustments, beating the $0.49-per-share consensus analyst estimate. Revenue came in slightly below estimates at $149.7 million but was up 21% year over year.

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Source Fool.com