International Seaways Q2 net income falls to $62M; declares $0.77 combined dividend for Q3

International Seaways, Inc.

2025-Q2 EPS reported $2.25 vs consensus $0.97 ▲ beat (+133.0%)

Net income $62M ($1.25 diluted) vs $145M ($2.91) in Q2 2024; adjusted net income $50M ($1.02).
Total revenues $196M, down from $257M YoY; TCE revenues $189M vs $252M.
Fleet optimization: Sold two MRs for $28M; agreed to sell four more for ~$57M; agreed to buy 2020-built VLCC for $119M.
Board declared combined Q3 dividend of $0.77/share (regular $0.12 + supplemental $0.65), payable Sep 24 to holders of record Sep 10.
Balance sheet: Total liquidity $709M; net loan-to-value ~14%; secured $240M financing for LR1 newbuildings.

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