OSG Q1 net income $14.6M ($0.19 EPS), revenue up 3.3% YoY

OVERSEAS SHIPHOLDING GROUP INC

2024-Q1 EPS reported $0.19 revenue$117,497,000

Net income $14.6M ($0.19 diluted EPS) vs $12.1M ($0.14) in Q1 2023, up 35.7% per share.
Adjusted EBITDA $43.9M, up 7.3% from $40.9M; TCE revenues $110.1M, +5.7%.
Shipping revenues $117.5M, +3.3% vs $113.8M in prior-year quarter.
Board declared $0.06 per share dividend, paid April 10, 2024; second quarterly dividend.
Exercised option to extend bareboat charter of Overseas Tampa for five years through June 2030.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

OVERSEAS SHIPHOLDING GROUP INC reported the first quarter of 2024 results: revenue $117.5 million, net income $14.6 million, EPS $0.19 per diluted share.

Period: the first quarter of 2024
Revenue: $117.5 million
Net income: $14.6 million
EPS: $0.19 per diluted share
Result: reported results

Exact text from the filing

for the first quarter of 2024 was $43.9 million, an increase of $3.0 million, or 7.3%, from the first quarter of 2023. ● Shipping revenues for the first quarter of 2024 were $117.5 million, an increase of $3.7 million, or 3.3%, compared to the first quarter of 2023. ● Time charter equivalent (TCE) revenues (B) , a non-GAAP measure, for the first quarter of 2024

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Source: SEC EDGAR

accession 0001493152-24-018570

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