Quarterly ResultMay 7, 2026, 08:23 AM
International Seaways Q1 Net Income $286.1M; EPS $5.78
AI Summary
International Seaways reported a significant increase in net income to $286.1 million, or $5.78 per diluted share, for Q1 2026, up from $49.6 million, or $1.00 per diluted share, in Q1 2025. Shipping revenues rose to $325.5 million from $183.4 million year-over-year. The company also completed the acquisition of the remaining 50% interest in Tankers (UK) Agencies Limited for $10.0 million, recognizing a $3.9 million holding gain, and disposed of seven vessels for $222.8 million.
Key Highlights
- Net income for Q1 2026 was $286.1 million, a substantial increase from $49.6 million in Q1 2025.
- Diluted EPS for Q1 2026 was $5.75, up from $1.00 in Q1 2025.
- Shipping revenues increased to $325.5 million in Q1 2026 from $183.4 million in Q1 2025.
- Income from vessel operations for Q1 2026 was $288.6 million, compared to $59.2 million in Q1 2025.
- Acquired remaining 50% of Tankers (UK) Agencies Limited for $10.0 million, recognizing $7.6 million goodwill.
- Disposed of seven vessels for net proceeds of $222.8 million, realizing a gain of $88.2 million.
- Declared cash dividends of $106.4 million in Q1 2026, up from $34.5 million in Q1 2025.
- Crude Tankers segment shipping revenues were $191.5 million, and Product Carriers were $134.0 million.
Price Impact
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