secwatch.observer — SEC 8-K summary
======================================

Issuer:     International Seaways, Inc. (INSW)
CIK:        0001679049
Form:       8-K
Filed at:   2024-08-07T23:59:59+00:00
Accession:  0001104659-24-086541
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

INSW Q2 net income $144.7M ($2.91/sh), down YoY; Q3 dividend $1.50; bought 6 MRs for $232M
--------------------------------------------------------------------------------

- Net income $144.7M ($2.91 diluted EPS) vs $153.8M ($3.11) in Q2 2023; adjusted net income $118M ($2.37).
- Revenue $257.4M, down from $292.2M; TCE revenue $251.8M; consolidated adjusted EBITDA $167M vs $205.1M.
- Acquired six eco MR vessels for $232M (partially with 623,778 shares) and sold three older MRs for $72M net proceeds.
- Board declared Q3 combined dividend of $1.50/share ($0.12 regular + $1.38 supplemental), payable Sept 25, 2024.
- Amended credit facility to $500M RCF, reduced mandatory repayments by $19.5M/quarter, margin cut by ~85 bps; liquidity $682M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1679049/000110465924086541/0001104659-24-086541-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1679049/000110465924086541/tm2421016d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-086541

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer