International Seaways Q2 EPS Smashes Estimates by 22% on Soaring Tanker Rates
INSW has more than doubled off its 52-week low of $41.2.
Summary
International Seaways delivered a strong Q2 beat, with adjusted EPS of $5.91 trouncing the $4.83 consensus. Revenue more than doubled year-over-year to $467 million, driven by higher spot TCE rates and improved profit-sharing on time charters. Adjusted EBITDA of $345 million also topped estimates. The company declared a dividend and contracted four newbuild vessels, signaling confidence in sustained market strength. With $240 million in future contracted revenue and two LR1 newbuildings arriving in Q3, the outlook remains robust. This follows a record Q1 and a cluster of insider selling in May, but the operational momentum appears intact.
At the time of this announcement, INSW was trading at $93.50 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $4.6B. The 52-week trading range was $41.20 to $98.23. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.