International Seaways reports record Q4 net income $218.4M, declares $2.00 combined dividend

International Seaways, Inc.

2022-FY EPS reported $7.77 revenue$864,665,000

Q4 net income $218.4M ($4.40 diluted EPS) vs net loss $34.0M ($0.68 loss) in Q4 2021; full-year net income $387.9M ($7.77 EPS) vs loss $133.5M.
Consolidated TCE revenues Q4 $335.7M (up from $93.0M YoY); full-year TCE revenues $853.7M (up from $255.9M).
Board declared regular quarterly dividend $0.12/share and supplemental dividend $1.88/share, payable March 28, 2023 to holders of record March 14.
Fleet optimization: sold 2008-built MR for ~$14M net; agreed to sell another MR for ~$14M; exercised purchase options on two Aframaxes for ~$41M (45% discount).
Credit facility amendment expected March 2023: RCF increased by $40M to ~$260M, $100M prepayment on term loan, 22 vessels removed from collateral.

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 fourth quarter and full year of 2022 results: revenue $338.2 million, net income $218.4 million, EPS $4.40 per diluted share.

Period: fourth quarter and full year of 2022
Revenue: $338.2 million
Net income: $218.4 million
EPS: $4.40 per diluted share
Result: reported results

Exact text from the filing

Consolidated TCE revenues for the fourth quarter were $335.7 million, compared to $93.0 million for the fourth quarter of 2021. Shipping revenues for the fourth quarter were $338.2 million, compared to $94.7 million for the fourth quarter of 2021. Adjusted EBITDA for the fourth quarter was $254.3 million, compared to $11.9 million for the fourth quarter of 2021.

View on SEC.gov

36 earnings releases filed in the last 30 days. Browse all earnings releases →

International Seaways, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-026388

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.