INTERNATIONAL SEAWAYS Reports Fourth Quarter Financial Results for Fiscal Year 2022

Earnings report

On December 31 2022, INTERNATIONAL SEAWAYS ($NYSE:INSW) reported its financial results for the fourth quarter of fiscal year 2022, ending February 28 2023. The company achieved total revenue of USD 218.4 million, an impressive 742.6% year over year increase. This increase was supported by strong growth in the company’s international shipping, logistics, and transportation services. Net income reported was USD 338.2 million, representing a remarkable 257.2% year over year growth. The increase in net income was driven in large part by a combination of higher sales and operational efficiency improvements.

The strong financial results demonstrate the success of INTERNATIONAL SEAWAYS’ strategic investments and focus on customer experience. The company is committed to continuing to invest in technology and innovation to ensure they remain a leader in international shipping and services. Based on their fourth quarter results, it is clear that these efforts have been paying off and that INTERNATIONAL SEAWAYS is well-positioned for future growth and success.

Stock Price

Upon release, the company’s stock opened at $50.8 and closed at $51.4, a rise of 5.8% from the prior closing price of 48.6. This is a strong indication of the market’s confidence in their performance and signals potential growth for their shareholders. Investors are clearly optimistic as the positive news from their financial report continues to boost their stock price. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for International Seaways. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for International Seaways. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for International Seaways. More…

Key Ratios Snapshot

Some of the financial key ratios for International Seaways are shown below. More…

Analysis

GoodWhale recently conducted an analysis of INTERNATIONAL SEAWAYS‘ wellbeing according to the Star Chart. The company is classified as a ‘gorilla’, which means that it has achieved stable and high revenue or earnings growth due to its strong competitive advantage. This type of company would be attractive to value investors since it is likely to become a long-term winner and generate consistent returns over time. When assessing INTERNATIONAL SEAWAYS’s health score, GoodWhale determined that it has an intermediate health score of 6/10 with regard to its cashflows and debt. This indicates that the company may be able to pay off debt and fund future operations. Our assessment further revealed that INTERNATIONAL SEAWAYS is strong in growth, and medium in asset, dividend, and profitability. This suggests that while INTERNATIONAL SEAWAYS has established a strong competitive position, there may still be some room for improvement in certain areas. More…

Peers

The shipping industry is highly competitive, with International Seaways Inc competing against TORM PLC, Euronav NV, and Overseas Shipholding Group Inc. All four companies are major players in the industry, with a strong presence in the market. International Seaways Inc has a strong fleet of vessels and a strong financial position, which gives it a competitive advantage in the market.

– TORM PLC ($NASDAQ:TRMD)

SSE PLC is a British energy company headquartered in Perth, Scotland. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. The company has a market capitalisation of £2.45 billion as of May 2021 and a return on equity of 7.59% as of March 2021.

SSE PLC is an integrated energy company with operations in electricity generation, transmission, distribution and supply, as well as gas storage and distribution. The company’s customer base includes domestic and commercial customers, as well as industrial and power generation customers. SSE PLC is one of the “Big Six” energy suppliers in the United Kingdom.

– Euronav NV ($NYSE:EURN)

Euronav NV is a Belgium-based company engaged in the maritime transportation sector. The Company owns and operates a fleet of very large crude carriers (VLCCs), which are used to transport crude oil, as well as a number of product and chemical tankers. As of December 31, 2014, the Company’s VLCC fleet consisted of 32 vessels with a deadweight tonnage (DWT) of 9.7 million each. The Company operates its vessels through time charters, voyage charters and pool arrangements. The Company is also engaged in the crude oil tanker market through its investment in Tanker Investments Ltd. (TiL), which owns a VLCC and an Aframax.

– Overseas Shipholding Group Inc ($NYSE:OSG)

Overseas Shipholding Group, Inc. is one of the world’s leading energy transportation companies. They operate a modern fleet of tankers and product carriers that serve the crude oil and refined petroleum product shipping industries. The company is publicly traded on the New York Stock Exchange and is a member of the S&P 500 Index.

Summary

International Seaways has experienced incredible growth over the past year, with total revenues jumping by 742.6%, and net income increasing by 257.2%. This strong performance has had a positive impact on the company’s stock price, making it an attractive option among investors. The company looks well-positioned to continue its impressive growth trajectory in the coming months, indicating that now may be an ideal time to invest in International Seaways.