International Seaways Reports Third Quarter Earnings for FY2023
December 6, 2023
🌥️Earnings Overview
On November 7th 2023, INTERNATIONAL SEAWAYS ($NYSE:INSW) released their earnings results for the third quarter of FY2023 which concluded on September 30th 2023. The total revenue received by the company was USD 241.7 million, showing a 2.1% increase compared to the results from the same period in the prior year. Unfortunately, net income was reported to be USD 97.9 million, a 13.7% decrease from the prior year’s same period.
Share Price
Despite this decrease, INTERNATIONAL SEAWAYS remains a strong force in the international shipping sector and is confident that its operations will continue to be profitable for the remainder of FY2023. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for International Seaways. More…
| Total Revenues | Net Income | Net Margin |
| 1.16k | 642.76 | 54.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for International Seaways. More…
| Operations | Investing | Financing |
| 744.52 | -178.78 | -602.29 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for International Seaways. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.56k | 910.95 | 33.75 |
Key Ratios Snapshot
Some of the financial key ratios for International Seaways are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 33.3% | 50.5% | 62.1% |
| FCF Margin | ROE | ROA |
| 45.1% | 27.5% | 17.6% |
Analysis
GoodWhale has taken a deep dive into the wellbeing of INTERNATIONAL SEAWAYS. According to our Star Chart, INTERNATIONAL SEAWAYS is strong in dividend and growth and medium in asset and profitability. Its cashflows and debt are intermediate, with a health score of 6/10, which suggests that it may be able to pay off debt and fund future operations. Furthermore, it is classified as a ‘gorilla’ by us, meaning that it has achieved stable and high revenue or earning growth due to its strong competitive advantage. This makes INTERNATIONAL SEAWAYS an attractive option for investors interested in investing in a stable and growing company with a competitive edge. 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 released their third quarter earnings for FY2023 on November 7 2023, posting total revenue of USD 241.7 million, a 2.1% increase from the prior year. The company reported a net income of USD 97.9 million, a 13.7% drop from the same period last year. Investors should consider the company’s current financial performance in making decisions about investments in INTERNATIONAL SEAWAYS. Factors like revenue growth, net income, and forecasted results should all be taken into account when evaluating the company’s potential for returns.
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