INSW posts record full-year 2023 net income of $556M; Q4 net income $132M, dividend $1.32/share

International Seaways, Inc.

2023-FY EPS reported $11.25 revenue$1,071,775,000

Full-year 2023 net income $556.4M ($11.25 diluted EPS), up from $387.9M in 2022; record earnings.
Q4 2023 net income $132.1M ($2.68 diluted) vs $218.4M in Q4 2022; adjusted net income $107.6M ($2.18 diluted).
Declared combined dividend $1.32/share ($0.12 regular + $1.20 supplemental) payable March 28; represents 60% of adjusted Q4 net income.
Total liquidity ~$601M; net loan-to-value 17% (lowest ever); prepaid nearly $300M debt in 2023.
Agreed to buy six MRs for $232M (15% stock); ordered four LR1 newbuilds; contracted future revenues $354M.

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 0.85

International Seaways, Inc. reported the fourth quarter and full year of 2023 results: net income Net income for the full year of 2023 was $556.4 million, or $11.25 per diluted share.

Period: the fourth quarter and full year of 2023
Net income: Net income for the full year of 2023 was $556.4 million, or $11.25 per diluted share
Result: reported results

Exact text from the filing

Net income for the full year of 2023 was $556.4 million, or $11.25 per diluted share

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International Seaways, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-029058

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