International Seaways Q1 net income $173M ($3.47/diluted); declares $1.62 combined dividend

International Seaways, Inc.

2023-Q1 EPS reported $3.47 revenue$287,130,000

Net income $172.6M ($3.47 diluted) vs net loss $13M ($0.26) in Q1 2022; adjusted net income $162.5M ($3.27).
Revenue $287.1M, TCE revenue $283.3M, adjusted EBITDA $209M vs $26M in prior year.
Board declared regular quarterly dividend $0.12 and supplemental $1.50 per share, payable June 28, 2023.
Fleet actions: Took delivery of two dual-fuel VLCCs; purchased two Aframaxes at ~45% discount; sold one MR for ~$10M.
Amended $750M credit facility: prepaid $97M term loan; increased revolver by $40M to ~$260M; released 22 vessels 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 1.0

International Seaways, Inc. reported first quarter 2023 results: revenue $287.1 million, net income $172.6 million, or $3.47 per diluted share, EPS $3.47 per diluted share.

Period: first quarter 2023
Revenue: $287.1 million
Net income: $172.6 million, or $3.47 per diluted share
EPS: $3.47 per diluted share
Result: reported results

Exact text from the filing

and the effects of sanctions on Russian oil that disrupted trading patterns leading to longer voyages and higher tanker utilization. Shipping revenues for the first quarter were $287.1 million, compared to $101.5 million for the first quarter of 2022. Consolidated TCE revenues for the first quarter were $283.3 million, compared to $98.0 million for the first quarter of

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 0001104659-23-056306

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.