NYSE$INSW
International Seaways Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Generated record earnings driven by a strong rate environment and strategic fleet expansion.
International Seaways reported a net income of $113.4 million for Q3 2022, a significant increase compared to a net loss of $67.4 million in Q3 2021. This improvement was driven by a $161.6 million increase in revenues due to strengthening market conditions and strategic initiatives.
- Generated record earnings due to a strong rate environment and strategic preparations.
- Expanded fleet with a diversified portfolio of crude and product tankers.
- Enhanced debt profile by extending maturities and maintaining low cash break-evens.
- Declared an additional special dividend of $1.00 per share.
Headline financials
Revenue & EPS history
International Seaways · Revenue · Quarterly
$237M
Revenue by segment
International Seaways · $237M total across 2 segments · Q3 2022
- Product Carriers$160M+270.8%67.5%
- Crude Tankers$77.1M+84.4%32.5%
Forward guidance
The company expects the market to remain robust. The focus on energy security drives regional imbalances of oil, creating strong demand for tankers to travel long distances for higher tanker utilization. The supply side outlook is also positive, as the global fleet is unlikely to substantially grow in the near term due to pending environmental regulations and limited newbuild capacity at shipyards already full of orders from other shipping sectors.
Tailwinds
- Strong demand for tankers due to energy security concerns.
- Regional imbalances of oil creating long distance travel demand.
- Limited near-term growth in the global fleet.
- Pending environmental regulations favoring existing fleet.
- Shipyards are full of orders from other shipping sectors.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2022
+1.1%
Avg return
Earnings day
+1.8%
Avg return
5 days after
+0.3%
Avg return
30 days after
68%
26 / 38 earnings
Positive
+10.3%
Q1 2021
Best reaction
-15.5%
Q3 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +5.1% | +3.0% | -5.5% | |
| Q4 2025 | +3.8% | +8.8% | +2.4% | |
| Q3 2025 | +4.6% | +6.0% | +2.0% | |
| Q1 2025 | +1.0% | +6.5% | +2.8% | |
| Q4 2024 | -7.5% | -5.8% | -9.1% | |
| Q3 2024 | -3.9% | -6.5% | -17.3% | |
| Q2 2024 | -3.6% | -2.8% | -2.6% | |
| Q1 2024 | +9.3% | +8.9% | +8.8% | |
| Q4 2023 | +3.3% | +1.0% | +1.8% | |
| Q3 2023 | -3.8% | -3.0% | -9.9% | |
| Q2 2023 | +1.8% | +1.8% | -2.2% | |
| Q1 2023 | +4.6% | +8.9% | +5.0% | |
| Q4 2022 | +5.4% | +8.7% | -15.6% | |
| Q3 2022 | +2.2% | -3.0% | -12.4% | |
| Q2 2022 | +6.1% | +12.1% | +25.4% | |
| Q1 2022 | +1.3% | -7.4% | +12.2% | |
| Q4 2021 | +0.3% | +3.2% | +4.5% | |
| Q3 2021 | -5.3% | -1.0% | -14.5% | |
| Q2 2021 | +0.7% | -0.3% | +7.5% | |
| Q1 2021 | +10.3% | +5.7% | +7.2% | |
| Q4 2020 | +6.4% | +7.1% | -4.9% | |
| Q3 2020 | +5.4% | +7.7% | +23.4% | |
| Q2 2020 | +0.5% | +7.2% | -8.6% | |
| Q1 2020 | +5.0% | +4.0% | +3.9% | |
| Q4 2019 | -5.9% | -7.0% | +4.8% | |
| Q3 2019 | +1.1% | +6.2% | +15.1% | |
| Q2 2019 | +1.7% | +3.8% | +15.0% | |
| Q1 2019 | +7.1% | +7.6% | -2.1% | |
| Q4 2018 | +7.5% | +7.1% | +10.6% | |
| Q3 2018 | -15.5% | -21.8% | -17.5% | |
| Q2 2018 | -4.2% | -5.4% | -13.1% | |
| Q1 2018 | -2.6% | -1.2% | +1.6% | |
| Q4 2017 | +10.1% | +12.7% | +9.3% | |
| Q3 2017 | -9.1% | -16.2% | -19.9% | |
| Q2 2017 | -3.1% | -6.1% | -18.3% | |
| Q1 2017 | +5.7% | +0.5% | -0.2% | |
| Q4 2016 | -5.9% | -6.1% | -5.3% | |
| Q3 2016 | +3.6% | +24.0% | +27.8% | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — | |
| Q4 2015 | — | — | — | |
| Q3 2015 | — | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — |
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