International Seaways Q3 net income $113.4M ($2.28/sh) vs year-ago loss; declares $1 special dividend

International Seaways, Inc.

2022-Q3 EPS reported $3.40 revenue$526,508,000

Net income $113.4M ($2.28 diluted EPS) vs net loss $67.4M (-$1.44) in Q3 2021; revenue $236.8M vs $84.8M.
Adjusted EBITDA $157.1M vs $8.0M; TCE revenues $234.5M vs $73.0M.
Product Carriers TCE revenues surged to $159.4M from $38.2M; crude tankers $75.2M from $34.8M.
Board declared regular $0.12/sh and special $1.00/sh dividends, payable Dec 22 to holders of record Dec 8.
Repurchased 687,740 shares for ~$20M at avg $29.08; redeemed $25M of 8.5% senior notes due 2023.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

International Seaways, Inc. reported third quarter of 2022 results: revenue $236.8 million, net income $113.4 million, or $2.28 per diluted share, EPS $2.28 per diluted share.

Period: third quarter of 2022
Revenue: $236.8 million
Net income: $113.4 million, or $2.28 per diluted share
EPS: $2.28 per diluted share
Result: reported results

Exact text from the filing

Consolidated TCE revenues (C) for the third quarter were $234.5 million, compared to $73.0 million for the third quarter of 2021. Shipping revenues for the third quarter were $236.8 million, compared to $84.8 million for the third quarter of 2021. Adjusted EBITDA (A) for the third quarter was $157.1 million, compared to $8.0 million for the third quarter of 2021.

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International Seaways, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-22-115698

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