Teekay LNG reports record annual earnings after fourth-quarter profit

Teekay LNG has reported a jump in adjusted profit for the fourth quarter, pushing its 2020 earnings to a new record.

The New York-listed gas carrier reported adjusted net income of $60m, up from $50.3m a year earlier.

Bottom line slumps

But bottom-line net income came in at $35.1m, which was a plunge from $67.4m as a result of write-downs of its LPG and multigas carriers in the final quarter of last year.