International Seaways Q2 2024 Earnings: Seasonality At Play, Mixed Outlook Ahead [Seeking Alpha]
International Seaways, Inc. (INSW)
Last international seaways, inc. earnings: 3/3 06:00 am
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US:NASDAQ Investor Relations:
intlseas.com/corporateprofile
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Source: Seeking Alpha
Summary 2Q24 earnings showed mixed results with a decline in spot earnings and fewer operating days, but INSW generated more free cash flow due to term loan conversion. The VLCC market is under pressure because of seasonality and uncertainty about OPEC+ production phase-out. Yet, the tanker market should pick up in Q4 as the seasonality winds down. However, increasing domestic crude requirements for Nigerian refineries and the Dangote refinery's production ramp-up could negatively impact the ton-mile demand for tankers. Shares trade at a discount relative to NAV with an 18% Adjusted FCF yield and a 12% annualized dividend yield; maintain BUY. rgaydos Recap Our bull thesis for International Seaways, Inc. ( NYSE: INSW ) is as follows: European Union ("EU") sanctions against Russia and the Red Sea crisis have significantly increased the ton-mile demand, driving earnings and utilization rates. Fewer capacity following the global financial crisis and high newbuilding and
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INSW
News
- International Seaways, Inc. (NYSE: INSW) had its price target lowered by analysts at Jefferies Financial Group Inc. from $66.00 to $60.00. They now have a "buy" rating on the stock.MarketBeat
- International Seaways' (NYSE:INSW) Shareholders Have More To Worry About Than Only Soft Earnings [Yahoo! Finance]Yahoo! Finance
- International Seaways Inc (INSW) Q3 2024 Earnings Call Highlights: Strong Financial Performance ... [Yahoo! Finance]Yahoo! Finance
- International Seaways, Inc. 2024 Q3 - Results - Earnings Call Presentation [Seeking Alpha]Seeking Alpha
- International Seaways, Inc. (NYSE: INSW) had its "buy" rating re-affirmed by analysts at Jefferies Financial Group Inc.. They now have a $66.00 price target on the stock.MarketBeat
INSW
Earnings
- 11/7/24 - Beat
INSW
Sec Filings
- 11/18/24 - Form 4
- 11/15/24 - Form 144
- 11/12/24 - Form SC
- INSW's page on the SEC website