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International Seaways Inc (INSW)
NYSE:INSW
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Earnings Data
Report Date
Feb 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1.15Last Year’s EPS
$2.18Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: -24.93%
|Next Earnings Date:Feb 26, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a strong financial and strategic position for International Seaways, with significant achievements in liquidity management, fleet optimization, and shareholder returns. However, there are challenges related to production disruptions, market uncertainties, and increased vessel expenses. Despite these challenges, the company's strategic initiatives and financial strength position it well for future opportunities.Company Guidance
During the International Seaways, Inc. third-quarter 2024 earnings call, the company provided guidance on various financial metrics and strategic initiatives. The net income for the quarter was reported at $92 million, or $1.84 per diluted share, with adjusted net income at $78 million or $1.57 per share, excluding gains on vessel sales and other one-time items. The company achieved an EBITDA of over $143 million, with adjusted EBITDA at $130 million. They highlighted a robust liquidity position with nearly $700 million, including over $540 million in undrawn revolver capacity. The company continues to optimize its fleet, having sold three 15-year-old MRs for $72 million and acquired six MRs under ten years old for $232 million. In terms of shareholder returns, International Seaways paid a combined dividend of $1.50 per share in the third quarter, representing 84% of the adjusted net income from the previous quarter, and announced a future dividend of $1.20 per share. The company maintains a strong balance sheet with a net debt to vessel value ratio of under 14% and 34 unencumbered vessels. They emphasize a balanced capital allocation approach, aiming to renew their fleet, adapt to industry conditions, maintain a strong balance sheet, and provide significant returns to shareholders.Strong Financial Performance
Net income for the third quarter was $92 million or $1.84 per diluted share, with adjusted net income of $78 million or $1.57 per share. EBITDA was over $143 million, with adjusted EBITDA at $130 million.
Robust Liquidity Position
Total liquidity of nearly $700 million, including over $540 million of undrawn revolver capacity, with a net debt of $500 million and a low net loan-to-vessel value of under 14%.
Successful Fleet Optimization
Sold three 15-year-old MRs for $72 million and acquired six MRs under 10 years old for $232 million. Purchased and retired over 500,000 shares and paid a $1.50 per share dividend.
Strong Market Position and Strategy
Seaways has returned over 12% of its average market cap in the past 12 months and maintains a balanced capital allocation approach.
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INSW Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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INSW Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $43.33 | $42.41 | -2.12% |
| Aug 07, 2024 | $47.92 | $45.93 | -4.15% |
| May 08, 2024 | $51.52 | $55.74 | +8.19% |
| Feb 29, 2024 | $46.32 | $46.92 | +1.30% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does International Seaways Inc (INSW) report earnings?
International Seaways Inc (INSW) is schdueled to report earning on Feb 26, 2025, TBA Not Confirmed.
What is International Seaways Inc (INSW) earnings time?
International Seaways Inc (INSW) earnings time is at Feb 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is INSW EPS forecast?
INSW EPS forecast for the fiscal quarter 2024 (Q4) is $1.15.
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