Before the market open, the Hamilton, Bermuda-based company reported adjusted earnings of 41 cents per share, ahead of estimates for 37 cents per share.
Revenue was $700.1 million for the quarter, beating analysts' expectations for $596.7 million.
For the year-ago period, Teekay reported a loss of 19 cents per share on revenue of $545 million.
"Despite the challenging macro energy environment affecting our customers, the Teekay Group generated strong cash flow growth during the fourth quarter and fiscal year of 2015 and recorded the highest fiscal year adjusted earnings since 2008, highlighting our diversified business model and our integral role in our customers' oil and gas production logistics chains," CEO Peter Evensen said in a statement.
Teekay is a provider of crude oil and gas marine transportation services.
About 5.81 million shares of the company were traded today, well above the company's average trading volume of roughly 2.71 million shares per day.
Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D+.
Teekay's weaknesses include its generally disappointing historical performance in the stock itself, unimpressive growth in net income and generally high debt management risk.
You can view the full analysis from the report here: TK
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.TK data by YCharts