Bank of America Corp DE Has $18.24 Million Stake in Scorpio Tankers Inc. $STNG
Bank of America Corp DE increased its stake in Scorpio Tankers Inc. (NYSE:STNG) by 9.3% in the first quarter, now owning 244,364 shares valued at $18.24 million. Other institutional investors also adjusted their positions in the shipping company. Analyst ratings for Scorpio Tankers are mixed, with a consensus "Hold" rating and an average target price of $90.14.
Morgan Stanley Maintains Scorpio Tankers(STNG.US) With Hold Rating, Raises Target Price to $86
Morgan Stanley has reiterated its Hold rating on Scorpio Tankers (STNG.US) and increased the price target for the stock to $86. This adjustment comes as analysts continue to evaluate the company's financial performance and market position.
US80918TAH2 Bond Profile — Key Metrics
This article provides a bond profile for Scorpio Tankers Inc.'s 1.75% bond due April 15, 2031, identified by US80918TAH2. Key metrics include its issue date of May 12, 2026, maturity date, outstanding amount of $230 million USD, and a coupon rate of 1.75%. The company, headquartered in Monaco, specializes in marine transportation of petroleum products.
Scorpio Tankers (NYSE: STNG) adds Andrea Lanzara as Class III director
Scorpio Tankers Inc. (NYSE: STNG) has appointed Andrea Lupo Lanzara as a new Class III director, effective August 17, 2026, filling the vacancy left by Marianne Økland's resignation. Lanzara, 47, is the President of Accademia Costume & Moda and brings a background in strategic development and advisory work for the Ministry of Culture of Saudi Arabia. The company noted that Økland's resignation was not due to any disagreements and that there are no related-party concerns with Lanzara's appointment.
Scorpio Tankers Inc's Dividend Analysis
Scorpio Tankers Inc. (NYSE:STNG) announced a dividend of $0.45 per share, with an ex-dividend date of August 17, 2026, and a payment date of August 31, 2026. The company's dividend payout ratio is a low 0.16, suggesting good coverage, but negative revenue and EPS growth rates raise questions about the long-term sustainability of high dividend growth. Despite its modern fleet and fair profitability, the cyclical nature of the tanker market poses a risk for investors weighing the attractive 5-year yield on cost against potential earnings volatility.
There's A Lot To Like About Scorpio Tankers' (NYSE:STNG) Upcoming US$0.45 Dividend
Scorpio Tankers Inc. (NYSE:STNG) is set to issue a US$0.45 dividend, bringing its trailing yield to 2.4%. The company's dividend appears sustainable, with a low payout ratio of 9.8% of profit and 13% of free cash flow, alongside robust earnings growth of 60% annually over the last five years. While the dividend per share has decreased over the past decade, the strong earnings growth and conservative payout suggest the current dividend is well-covered.
Scorpio Tankers (STNG) Gains Attention As Earnings, Dividend And Buybacks Meet Fair Value Debate
Scorpio Tankers (STNG) has reported strong Q2 2026 earnings, a declared cash dividend, and continued share repurchases, highlighting its financial health. While analysts generally consider STNG undervalued with a fair value of $99.22, Simply Wall St's DCF model suggests a lower intrinsic value of $63.80. This discrepancy creates a debate on the stock's true fair value, influenced by factors like fleet aging, environmental regulations, and potential changes in product tanker supply and demand.
Assenagon Asset Management S.A. Sells 377,550 Shares of Scorpio Tankers Inc. $STNG
Assenagon Asset Management S.A. significantly reduced its stake in Scorpio Tankers Inc. (NYSE:STNG) by selling 377,550 shares, though it still retains a substantial holding worth $37.4 million. This comes as Scorpio Tankers reported strong quarterly earnings, beating analyst estimates with $4.68 EPS and a 77.5% year-over-year revenue increase, along with declaring a $0.45 quarterly dividend. Despite mixed analyst ratings, the company maintains an average "Hold" with a consensus price target above its current share price.
The Bull Case For Scorpio Tankers (STNG) Could Change Following Profit Surge And Aggressive Buybacks - Learn Why
Scorpio Tankers Inc. (STNG) reported strong Q2 2026 results with significantly higher net income and EPS, alongside continued shareholder returns through dividends and substantial share repurchases. This surge in profitability, coupled with the buyback of over a quarter of its shares since 2023, strengthens the short-term earnings narrative. However, the company's investment case remains exposed to spot market volatility, which could quickly impact future earnings despite optimistic analyst forecasts.
Investors Shouldn't Be Too Comfortable With Scorpio Tankers' (NYSE:STNG) Earnings
Scorpio Tankers' recent strong earnings report, despite not significantly moving its stock, contained concerning details. The article highlights that a substantial portion of the profit came from US$259m worth of unusual items, which are often not repeatable and may give an overly positive impression of the company's underlying earnings power. Investors are cautioned that statutory profits might not be a reliable guide to future profitability, suggesting further investigation into the company's risks.
The Bull Case For Scorpio Tankers (STNG) Could Change Following Profit Surge And Aggressive Buybacks - Learn Why
Scorpio Tankers Inc. (STNG) reported a significant profit surge in Q2 2026, with net income of US$387.54 million and higher earnings per share, alongside strong first-half results. The company has also been aggressively returning cash to shareholders through a US$0.45 quarterly dividend and extensive share repurchases, retiring over a quarter of its shares since 2023. While this strengthens near-term earnings, investors are cautioned about the potential impact of volatile spot rates and a weaker demand environment on future profitability.
The Bull Case For Scorpio Tankers (STNG) Could Change Following Profit Surge And Aggressive Buybacks - Learn Why
Scorpio Tankers Inc. (STNG) reported strong Q2 2026 net income and EPS, alongside significant share repurchases that have retired over a quarter of its shares since 2023. This surge in profitability strengthens the near-term investment narrative for the product tanker company, but investors must remain aware of the inherent volatility of the spot freight market and potential impacts on future earnings. The article suggests that while current performance is strong, the long-term outlook still presents risks from rate fluctuations and energy transition.
Scorpio Tankers Inc (STNG) Earnings Forecast: Future EPS & Revenue Growth Estimates
This article provides an earnings forecast for Scorpio Tankers Inc (STNG), highlighting its current earnings forecast score, average price target, and analyst ratings. It includes peer comparisons and answers frequently asked questions regarding revenue, price targets, and past and future EPS performance. Most analysts recommend a "Buy" for STNG stock.
Scorpio Tankers Inc. (NYSE:STNG) Receives Average Recommendation of "Hold" from Brokerages
Scorpio Tankers Inc. (NYSE:STNG) has received an average "Hold" recommendation from eleven brokerages, with an average 12-month price target of $89.57. The company recently exceeded quarterly earnings expectations, reporting $4.68 EPS against a $4.56 consensus and revenue of $408.73 million, a 77.5% year-over-year increase. Scorpio Tankers also declared a quarterly dividend of $0.45 per share, representing a 2.4% annual yield.
Investors Shouldn't Be Too Comfortable With Scorpio Tankers' (NYSE:STNG) Earnings
Scorpio Tankers' recent robust earnings report, despite not significantly moving its stock, contains concerning factors. The company's statutory profit was substantially boosted by US$259m in unusual items, which are often non-recurring, suggesting that the reported profit may not accurately reflect sustainable underlying earnings power. While EPS growth has been strong, investors should be cautious as these unusual items could give an overly positive impression of the company's financial health.
Investors Shouldn't Be Too Comfortable With Scorpio Tankers' (NYSE:STNG) Earnings
Scorpio Tankers' recent robust earnings report did not significantly impact its stock due to underlying concerns identified by Simply Wall St. Analysis revealed that a substantial portion of the profit, US$259 million, came from unsustainable unusual items. Investors are cautioned that statutory profits might not accurately reflect the company's true underlying earnings power.
FMR LLC discloses 5.1% Scorpio Tankers (STNG) holding with 2.6M shares
FMR LLC and Abigail P. Johnson have disclosed a 5.1% beneficial ownership stake in Scorpio Tankers Inc. (STNG) as of June 30, 2026. This ownership amounts to 2,605,104.89 shares, with FMR LLC holding sole voting power over a majority of these shares and both FMR LLC and Abigail P. Johnson having sole dispositive power over the entire stake. The filing indicates that while other persons may have rights to dividends or sale proceeds, none hold an interest exceeding five percent of Scorpio Tankers' outstanding common stock.
Pacer Advisors Inc. Sells 53,086 Shares of Scorpio Tankers Inc. $STNG
Pacer Advisors Inc. reduced its stake in Scorpio Tankers Inc. (NYSE:STNG) by 21.1% in the first quarter, selling 53,086 shares but still holding 198,145 shares valued at $14.8 million. Other institutional investors also adjusted their positions, and overall, institutional investors own 54.64% of the company's stock. Analysts have a mixed sentiment, with an average "Hold" rating and an average price target of $89.57 for Scorpio Tankers, which recently exceeded earnings estimates and declared a quarterly dividend of $0.45 per share.
Scorpio Tankers (NYSE:STNG) Receives Buy Rating from Jefferies Financial Group
Jefferies Financial Group has reiterated a "buy" rating for Scorpio Tankers (NYSE:STNG), setting a target price of $100, which suggests a 28.83% upside. Despite a mixed analyst consensus of "Hold" with an average target price of $89.57, the shipping company recently surpassed quarterly earnings and revenue expectations. Several institutional investors have also adjusted their holdings in STNG.
Scorpio Tankers (STNG) Stock Reprices After Historic Quarter And Net Cash Surge
Scorpio Tankers (STNG) reported its best quarter ever with adjusted net income of US$243.7 million and a surge to US$1.3 billion in net cash, leading to a modest 3.1% stock increase. While strong results validate the company's bullish case for converting a tight product tanker market into sustained cash generation, some investors worry about peak cycle risks and the durability of these conditions given vessel sales and limited newbuilds. The company returned over US$175 million in Q2 through buybacks and dividends, demonstrating its strong capital allocation.
Sei Investments Co. Purchases 38,216 Shares of Scorpio Tankers Inc. $STNG
Sei Investments Co. significantly increased its stake in Scorpio Tankers Inc. by purchasing an additional 38,216 shares, bringing their total to 118,751 shares valued at $8.9 million. This move comes as Scorpio Tankers reported strong quarterly earnings and revenue, exceeding analyst expectations, and declared a $0.45 quarterly dividend. Despite positive financial performance, analysts remain divided on STNG with a "Hold" rating, citing risks from declining spot rates and potential dilution.
Is Scorpio Tankers (STNG) Undervalued After Record Q2 Earnings And A Dividend Confirmed?
Scorpio Tankers (STNG) reported record second-quarter earnings and confirmed a US$0.45 quarterly dividend, leading to positive share price momentum. While a popular narrative suggests the stock is 21.5% undervalued with a fair value of $99.22 due to balance sheet improvements and strategic flexibility, an SWS Discounted Cash Flow model indicates it might be overvalued at its current price of $77.86 compared to an estimated $63.53. Investors are advised to review underlying data and consider potential risks like product tanker overcapacity or stricter environmental regulations.
Silverback Asset Management LLC Cuts Stake in Scorpio Tankers Inc. $STNG
Silverback Asset Management LLC significantly reduced its stake in Scorpio Tankers Inc. (STNG) by 66.7% in the first quarter, selling 20,000 shares. Despite this, other institutional investors have increased their positions in the company, which reported strong second-quarter earnings, beating analyst expectations for EPS and revenue. Scorpio Tankers also declared a quarterly dividend of $0.45, maintaining a "Moderate Buy" consensus rating among analysts, though risks like declining spot rates and potential dilution from convertible notes persist.
Arrowstreet Capital Limited Partnership Has $10.12 Million Stock Holdings in Scorpio Tankers Inc. $STNG
Arrowstreet Capital Limited Partnership significantly reduced its stake in Scorpio Tankers Inc. (STNG) by 76.2% in the first quarter, now holding 135,553 shares valued at approximately $10.12 million. Despite this reduction, institutional investors collectively own a substantial portion (54.64%) of STNG. Scorpio Tankers reported strong quarterly earnings exceeding estimates and declared a quarterly dividend, while analysts maintain a "Moderate Buy" consensus with an average price target above the current share price.
Scorpio Tankers Q2 Earnings Call Highlights
Scorpio Tankers (STNG) reported its strongest-ever quarterly results in Q2 2026, driven by high tanker rates and vessel sales. The company generated over $300 million in adjusted EBITDA and significantly reduced its debt, achieving a net cash position of $1.3 billion. Management also focused on fleet renewal, divesting older vessels and strategically investing in newbuildings and a VLCC joint venture, while maintaining a positive market outlook due to strong ton-mile demand and an aging global fleet.
A Look at Scorpio Tankers Inc (STNG) After 3.1% Gain -- GF Value $55.38 vs Price $77.86
Scorpio Tankers Inc (STNG) saw its shares rise 3.1% to $77.86, placing its current price significantly above its GF Value™ estimate of $55.38, indicating it is overvalued by 40.6%. The company holds a GF Score™ of 70/100, reflecting strong financial health and profitability, but its growth prospects are noted as limited. Insider activity shows $1.4 million in shares sold over the last three months with no buying, suggesting caution for potential investors despite some guru interest.
Evercore ISI lowers Scorpio Tankers stock price target to $93
Evercore ISI has lowered its price target for Scorpio Tankers Inc. (NYSE:STNG) to $93 from $94, while maintaining an Outperform rating. This decision follows Scorpio Tankers' strong Q2 2026 earnings, which exceeded forecasts, driven by robust spot rates and impressive operational efficiency. Despite recent mixed spot rates for different vessel types and a revised Q3 2026 earnings estimate, the company is seen as undervalued by InvestingPro, with a "GREAT" financial health rating and strategic fleet modernization efforts.
Evercore ISI lowers Scorpio Tankers stock price target to $93
Evercore ISI has reduced its price target for Scorpio Tankers Inc. (NYSE:STNG) shares to $93 from $94, while maintaining an Outperform rating. This adjustment follows Scorpio Tankers exceeding Q2 2026 earnings expectations, driven by stronger-than-anticipated spot rates, despite mixed third-quarter-to-date spot rates and a lowered Q3 EPS estimate. The company demonstrates strong financial health with significant liquidity, low debt costs, and is modernizing its fleet while trading at a discount to its projected net asset value.
The Bull Case For Scorpio Tankers (STNG) Could Change Following Record Q2 Profit And Capital Returns – Learn Why
Scorpio Tankers Inc. (STNG) reported a record Q2 2026 profit of US$387.54 million, with diluted EPS of US$7.37, and affirmed a US$0.45 quarterly cash dividend. These results, coupled with strong revenue growth and ongoing share repurchases, reinforce the near-term investment narrative driven by tight product tanker supply and long trade routes. The article suggests that while these strong results support the bullish case, investors should also consider potential future challenges such as rising environmental costs and the risk of overcapacity.
Deutsche Bank Adjusts Scorpio Tankers Price Target to $102 From $97, Maintains Buy Rating
Deutsche Bank has increased its price target for Scorpio Tankers Inc. (STNG) to $102 from $97, while reaffirming its "Buy" rating on the stock. This adjustment follows several recent updates for Scorpio Tankers, including its Q2 2026 earnings call, an increase in adjusted earnings and revenue, and the declaration of a quarterly cash dividend. The company also reported strong Q2 financial results, with adjusted EPS of $4.68 per share and revenue of $408.7 million.
Scorpio Tankers profits soar on market disruption
Scorpio Tankers reported significant profit increases in Q2 2026, driven by market disruptions stemming from the Iran war. Although initial charter rates spiked due to Strait of Hormuz disruptions, lower export volumes were offset by new, longer trade routes, keeping daily spot TCE rates elevated. Analysts remain bullish on STNG's share price, citing a strong balance sheet and favorable market conditions for product tankers.
Scorpio Tankers (NYSE: STNG) posts $387.5M Q2 profit and declares dividend
Scorpio Tankers (NYSE: STNG) reported a significant net income of $387.5 million for Q2 2026, a substantial increase from $73.5 million the previous year, driven by a stronger product tanker market and vessel sales. The company also declared a quarterly cash dividend of $0.45 per share and made key financing moves, including issuing convertible notes and prepaying debt. Despite higher operating costs and future capital expenditure commitments, STNG strengthened its balance sheet with $2.0 billion in cash and robust capital returns.
Scorpio Tankers Inc. (NYSE:STNG) Announces $0.45 Quarterly Dividend
Scorpio Tankers Inc. (NYSE:STNG) declared a quarterly dividend of $0.45 per share, resulting in an annualized dividend of $1.80 and a 2.4% yield. The dividend, payable on August 31st to shareholders of record on August 17th, is well-covered by earnings with a payout ratio of 29.9%. While the company missed analyst EPS estimates at $4.68, its revenue of $408.73 million exceeded expectations and grew 77.5% year-over-year.
Scorpio Tankers Inc (STNG) (Q2 2026) Earnings Call Highlights: Record EBITDA and Strategic ...
Scorpio Tankers Inc (STNG) reported a record Q2 2026 with adjusted EBITDA over $300 million and net income of $243.7 million, alongside a significant reduction in net debt and strong shareholder returns. The company highlighted robust product tanker rates driven by low inventories and refinery dislocation, despite geopolitical uncertainties and potential moderating freight rates. Management discussed their opportunistic strategy in the LR2 market, the impact of geopolitical events on shipping routes, and the potential for dilution from convertible notes.
Scorpio Tankers Inc. Q2 2026 Financial Results and Strategic Updates - News and Statistics
Scorpio Tankers Inc. reported its Q2 2026 financial results, highlighting significant strategic moves. The company announced new vessel orders, including LR2 and MR newbuilding product tankers, and a minority stake in a joint venture for Very Large Crude Carriers. Additionally, Scorpio Tankers detailed several vessel sales, new charter agreements, substantial debt repayments, and the expansion of its share buyback program.
Scorpio Tankers (NYSE:STNG) Reports Upbeat Q2 CY2026
Scorpio Tankers (NYSE:STNG) exceeded revenue expectations in Q2 CY2026, with sales up 83.5% year-on-year to $408.7 million and non-GAAP profit beating analyst estimates by 2.8%. The company demonstrated strong operating margins and free cash flow, although analysts anticipate a decline in revenue and EPS over the next 12 months. Despite strong quarterly results, the article suggests evaluating long-term business quality and valuation for investment decisions.
Earnings Flash (STNG) Scorpio Tankers Inc. Reports Q2 Revenue $408.7M
Scorpio Tankers Inc. (STNG) reported Q2 revenue of $408.7 million. The company is a Monaco-based provider in the transportation of refined petroleum products, operating a fleet of 113 tankers across Handymax, MR, Long Range 1 (LR1)/Panamax, and Long Range 2 (LR2)/Aframax segments. Analysts' consensus rates STNG as a "BUY" with an average target price of $95.60, representing a potential upside of +21.74% from its last close price.
Scorpio Tankers reports Q2 2026 net income of $387.5M and declares $0.45 dividend per share
Scorpio Tankers Inc. announced robust financial results for Q2 2026, with net income surging to $387.5 million, significantly up from the previous year, primarily due to increased tanker rates. The company declared a quarterly dividend of $0.45 per share and has strengthened its financial position through vessel sales, convertible note issuance, and ongoing newbuilding projects. Despite market volatility, Scorpio Tankers maintains strong liquidity and plans for continued fleet expansion and debt reduction.
Scorpio Tankers Inc. Announces Financial Results for the Second Quarter of 2026 and the Declaration of a Dividend
Scorpio Tankers Inc. reported strong financial results for the second quarter of 2026, with a net income of $387.5 million, up from $73.5 million in the same period last year. The company also declared a quarterly cash dividend of $0.45 per share. These positive results were driven by a significantly stronger product tanker market, partly influenced by geopolitical conflicts leading to longer voyage distances.
Scorpio Tankers Signs LOI to Purchase Two $72.8M Tankers
Scorpio Tankers Inc. reported strong Q2 2026 financial results with a net income of $387.5 million and declared a quarterly dividend of $0.45 per share. The company demonstrated robust liquidity with $2.0 billion in cash and significant debt reduction activities. Additionally, Scorpio Tankers announced strategic investments including letters of intent for newbuilding LR2 product tankers and a minority stake in a VLCC joint venture, while also repurchasing shares and selling older vessels.
Earnings Flash (STNG) Scorpio Tankers Inc. Posts Q2 Adjusted EPS $4.68 per Share, vs. FactSet Est of $4.56
Scorpio Tankers Inc. (STNG) announced its Q2 adjusted EPS was $4.68 per share, surpassing FactSet's estimate of $4.56. This financial update indicates a stronger-than-expected performance for the Monaco-based provider in the transportation of refined petroleum products. The company's stock was recently adjusted by Deutsche Bank to a target of $102, maintaining a Buy rating.
Scorpio Tankers Inc. Revenue Breakdown – HAM:S0QA
Scorpio Tankers Inc. (HAM:S0QA) reported total revenue of 767.39 million EUR last year, with its Long Range 2 segment being the top performer, contributing 378.30 million EUR. The company's largest regional contribution came from Global, accounting for 798.82 million EUR. This data provides a breakdown of the company's financial performance by segments and geographic regions.
Scorpio Tankers faces earnings test as tanker rates cool By Investing.com
Scorpio Tankers Inc. (NYSE:STNG) is set to report its second-quarter earnings, with analysts expecting strong results despite concerns about peaking shipping cycles. The company is projected to announce earnings of $5.60 per share on revenue of $431.06 million, reflecting significant year-over-year growth. However, recent weeks have seen a dimming of enthusiasm, with a 12% decline in EPS estimates and a nearly 9% drop in revenue estimates, along with some analyst downgrades due to cooling tanker rates. Investors will be closely watching the trajectory of product tanker rates, the company's fleet strategy, particularly its asset monetization program, and management's guidance on its substantial spot market exposure.
Empowered Funds LLC Has $17.96 Million Stock Holdings in Scorpio Tankers Inc. $STNG
Empowered Funds LLC increased its stake in Scorpio Tankers Inc. (NYSE:STNG) by 20.9% in the first quarter, now holding 240,545 shares valued at $17.96 million. Other institutional investors also adjusted their holdings in the shipping company, which recently reported strong quarterly earnings, beating analyst estimates and declaring a $0.45 quarterly dividend. Analysts currently rate the stock as a "Moderate Buy" with an average target price of $88.14.
Scorpio Tankers (STNG) Q2 Earnings: What To Expect
Scorpio Tankers (STNG) is set to report Q2 earnings, with analysts expecting an 83.2% year-on-year revenue growth after the company beat expectations last quarter. Despite some transportation peers underperforming, STNG has seen a 12.7% increase in share price over the last month, heading into earnings with an average analyst price target of $95.60 compared to its current price of $79. The company's prior quarter showed strong performance with significant beats on revenue, EBITDA, and EPS.
Scorpio Tankers Inc (STNG) Shareholder Structure: Major Shareholders & Institutional Holdings
This article details the shareholder structure of Scorpio Tankers Inc (STNG), listing its major shareholders and institutional holdings. It provides a breakdown of shareholder types, institutional shareholding over several quarters, and recent shareholder activity with changes in holdings for key investors. The article also lists various ETFs that hold STNG shares.
Scorpio Tankers Inc (STNG) Balance Sheet
This article presents the detailed balance sheet for Scorpio Tankers Inc (STNG), offering quarterly and annual financial health data. It allows users to evaluate fundamentals, calculate key ratios, and assess liquidity, leverage, and return on equity. The document includes historical financial figures for various line items such as cash, receivables, fixed assets, liabilities, and shareholders' equity, along with an FAQ section explaining key balance sheet metrics.
Scorpio Tankers Inc (STNG) Income Statement
This article provides the quarterly and annual income statements for Scorpio Tankers Inc (STNG), offering detailed financial data such as total revenue, cost of revenue, operating expenses, and net income over many fiscal years and quarters. It also includes an FAQ section explaining how to interpret the income statement and key metrics for analyzing the company's stock performance. The data allows insights into the company's financial performance and operational efficiency.
Cooper Creek Partners Management LLC Trims Position in Scorpio Tankers Inc. $STNG
Cooper Creek Partners Management LLC significantly reduced its stake in Scorpio Tankers Inc. by 71.1% in the first quarter, selling over 500,000 shares. Despite this reduction, other hedge funds increased their holdings in STNG. Scorpio Tankers reported strong first-quarter earnings, exceeding analyst expectations, and pays a quarterly dividend of $0.45 per share, with analysts maintaining a "Moderate Buy" consensus rating.
Scorpio Tankers Inc (STNG) Earnings Forecast: Future EPS & Revenue Growth Estimates
The article provides an earnings forecast for Scorpio Tankers Inc (STNG), highlighting its current earnings forecast score of 8.55, ranking 12th in the Oil & Gas Related Equipment and Services industry. It details analyst ratings, with a strong leaning towards "Buy," and future EPS and revenue growth estimates. The average price target for STNG is $71.00, with an expected revenue of $433.29 million for the next quarter.
