International Seaways Stock Price, News & Analysis

International Seaways reported a first quarter 2022 net loss of $13 million, or $0.26 per diluted share, showing slight improvement from a net loss of $13.4 million in Q1 2021. Consolidated TCE revenues surged to $98 million from $45.2 million YoY, mainly due to a post-merger fleet expansion. The company announced a quarterly cash dividend of $0.06 per share, marking the ninth consecutive payment. Significant fleet optimization includes the acquisition of the Seaways Eagle and the sale of older vessels, projected to generate $34 million. Adjusted EBITDA stood at $26 million, reflecting rising market dynamics.

International Seaways, Inc. (NYSE: INSW) announced it will release its first quarter 2022 results on May 4, 2022, before the market opens. A conference call will follow at 8:30 a.m. ET for investors, with a live webcast available on the Company’s website. An audio replay can be accessed from 11:30 a.m. ET on the same day until 11:59 p.m. ET on May 11, 2022. The Company operates a fleet of 84 vessels and is a major player in energy transportation services worldwide.

International Seaways reported its Q4 and full-year 2021 results, highlighting a transformational merger with Diamond S Shipping, expected to yield over $35 million in synergies. The company returned $57.6 million to shareholders through dividends and share repurchases. Despite a Q4 net loss of $34 million, it significantly improved from a $116.9 million loss in Q4 2020. TCE revenues rose to $93 million for Q4, driven by fleet expansion. The firm also completed numerous financing initiatives, enhancing liquidity by $150 million. Cash on hand stood at $98.9 million as of year-end 2021.

International Seaways, Inc. (NYSE: INSW) will release its fourth quarter and full year 2021 results before the market opens on March 2, 2022. A conference call is scheduled for 9:00 a.m. ET that same day, where details will be discussed. Investors can participate via a domestic call at (844) 200-6205 or an international call at (929) 526-1599. A live webcast will also be available on the Company's website. An audio replay will be accessible from 12:00 p.m. ET on March 2 until March 9, 2022.

International Seaways, Inc. (NYSE: INSW) announced its participation in the Capital Link Company Presentation Series on January 24, 2022, at 10:00 am ET. The event will feature CEO Lois Zabrocky and CFO Jeffrey Pribor, who will discuss the company's operations, growth prospects, and the tanker sector's outlook. Interested parties can register for the webinar here. Institutional investors can also request individual meetings with management.

International Seaways, Inc. (NYSE:INSW) announced the repurchase of 1,077,070 shares of common stock for approximately $16.7 million under its $50 million share repurchase program. The repurchases took place in December at an average price of $15.44 per share. The company now has about $33.3 million remaining in the buyback program authorized in August 2020. The retired shares are expected to enhance shareholder value by reducing the number of outstanding shares.

International Seaways, Inc. (NYSE: INSW) reported a net loss of $67.4 million in Q3 2021, significantly down from a net income of $14.0 million in Q3 2020. This loss was influenced by $38.0 million in charges related to vessel disposals and the merger with Diamond S Shipping Inc. (NYSE: DSSI), which is expected to generate $32 million in synergies by 2022. The company continued its return to shareholders with a $31.5 million special dividend and a regular dividend of $0.06 per share. Total liquidity surpassed $300 million following a refinancing of six VLCCs.

International Seaways, Inc. (NYSE: INSW) will release its third-quarter 2021 results before market open on November 9, 2021.

A conference call to discuss the results will be held at 9:00 a.m. ET on the same day. Participants can join by calling (844) 200-6205 for domestic or (929) 526-1599 for international access.

A live webcast will be available on the company's website. An audio replay will be accessible from 12:00 p.m. ET on November 9 to November 16, 2021.

International Seaways (NYSE: INSW) has announced a refinancing agreement for six vessels with Ocean Yield ASA, utilizing a sale leaseback structure. This deal, expected to close in early November 2021, will generate approximately $375 million to replace an existing $228 million Sinosure facility and bolster liquidity by around $150 million. The transaction is strategically aligned with the company's capital structure and anticipates a recovery in the tanker market. Leadership emphasizes this move as a step towards enhancing shareholder value amidst ongoing market changes.