OVERSEAS SHIPHOLDING Reports 6.2% Revenue Decrease in Third Quarter of FY2023
November 21, 2023
🌥️Earnings Overview
Overseas Shipholding ($NYSE:OSG) Group reported total revenue of USD 115.4 million for the quarter ending September 30 2023, representing a 6.2% decrease compared to the same period of FY2022. In the same period, their net income was USD 17.6 million, a 32.8% increase from the prior year.
Analysis
GoodWhale has conducted an evaluation of OVERSEAS SHIPHOLDING, analyzing its fundamentals. The Star Chart shows that OVERSEAS SHIPHOLDING is strong in asset and medium in growth, profitability and dividend. According to the health score of 5/10, OVERSEAS SHIPHOLDING has an intermediate health score considering its cashflows and debt, thus it can safely ride out any crisis without the risk of bankruptcy. OVERSEAS SHIPHOLDING is classified as ‘rhino’, a type of company which has achieved moderate revenue or earnings growth. Investors who are looking for a medium-risk investment option with potential for moderate returns may be interested in investing in companies like OVERSEAS SHIPHOLDING. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Overseas Shipholding. More…
| Total Revenues | Net Income | Net Margin |
| 457.61 | 52.12 | 11.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Overseas Shipholding. More…
| Operations | Investing | Financing |
| 114.69 | -4.43 | -86.35 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Overseas Shipholding. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.08k | 738.52 | 4.7 |
Key Ratios Snapshot
Some of the financial key ratios for Overseas Shipholding are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 2.9% | 19.5% | 21.5% |
| FCF Margin | ROE | ROA |
| 24.1% | 17.6% | 5.7% |
Peers
Overseas Shipholding Group Inc. (OSG) is engaged in the operation of tankers and offshore vessels. The Company operates its business through two segments: Tanker and Offshore. Its Tanker segment includes the operation of crude tankers, product tankers and liquefied petroleum gas (LPG) carriers that transport crude oil, refined petroleum products and LPG around the world. The Offshore segment includes the operation of U.S. flag petroleum, chemical and dry-bulk carriers, as well as ocean-going tug/barge units that transport products primarily along the United States’ inland waterways and coastwise along the Gulf of Mexico and Atlantic and Pacific coasts. OSG competes with TORM PLC, China Merchants Energy Shipping Co Ltd, International Seaways Inc.
– TORM PLC ($NASDAQ:TRMD)
ARM Holdings PLC, together with its subsidiaries, designs microprocessors, physical intellectual property (IP), and system-on-chips (SoCs) worldwide. The company operates through three segments: Processor, Physical IP, and System Design Enablement. The Processor segment licenses and sells processors, which include central processing units (CPUs), graphics processing units (GPUs), and interconnect products, as well as related technology that is incorporated in SoCs. This segment also licenses tools necessary to develop software for the processors. The Physical IP segment licenses and sells physical IP products, including memory controllers, interfaces, processors, and GPUs that are incorporated in SoCs. The System Design Enablement segment licenses tools for the development of software for system-on-chips, as well as sells software development tools. This segment also provides services to support customers with the development of their products. ARM Holdings PLC was founded in 1990 and is headquartered in Cambridge, the United Kingdom.
– China Merchants Energy Shipping Co Ltd ($SHSE:601872)
China Merchants Energy Shipping Co., Ltd. is a shipping company that transports crude oil and refined petroleum products. The company has a market cap of $65.81 billion as of 2022 and a return on equity of 14.45%. China Merchants Energy Shipping Co., Ltd. is a subsidiary of China Merchants Group.
– International Seaways Inc ($NYSE:INSW)
International Seaways Inc is a leading provider of ocean transportation services, connecting North America, Europe, the Mediterranean, North Africa, the Middle East, Asia, Australasia, South America and the Caribbean with container, bulk and tanker vessels. The company has a market cap of 1.89B as of 2022 and a Return on Equity of 0.16%. International Seaways Inc is a publicly traded company listed on the New York Stock Exchange.
Summary
OVERSEAS SHIPHOLDING reported total revenue of USD 115.4 million for the third quarter of FY2023, a 6.2% decrease from the previous year. Despite the decline in revenue, net income increased by 32.8% to USD 17.6 million. This indicates that the company has been able to manage costs efficiently and increase profitability, making it an attractive investment option. Investors should also consider the company’s ability to weather economic downturns, customer satisfaction, and competitive landscape when making an investment decision.
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