International Seaways, Inc. - INSW STOCK NEWS

International Seaways (NYSE: INSW) has scheduled its third quarter 2024 earnings release for Thursday, November 7, 2024, before market open. The company will host an investor conference call at 9:00 a.m. ET on the same day. The earnings call will be accessible via phone and webcast through the company's website. An audio replay will be available from 12:00 p.m. ET on November 7 until 11:59 p.m. ET on November 14, 2024.

International Seaways (NYSE: INSW), a leading global tanker company, has announced the repurchase of 501,646 shares of its common stock at an average price of $49.81 per share, totaling approximately $25 million. This move aligns with the company's commitment to returning value to shareholders. The repurchased shares will be retired, and INSW still has about $25 million available under its current $50 million share repurchase program, set to expire at the end of 2025.

CEO Lois K. Zabrocky highlighted that these repurchases, funded by proceeds from a previously announced vessel sale, amount to over 80% of shares issued in the prior quarter for fleet renewal. Additionally, INSW has declared a combined dividend of $1.50 per share, payable on September 25, 2024, to shareholders of record as of September 11, 2024.

International Seaways (NYSE: INSW) reported strong Q2 2024 results with net income of $144.7 million, or $2.91 per diluted share. Adjusted net income was $118.0 million, or $2.37 per diluted share, with Adjusted EBITDA of $167.0 million. The company optimized its fleet by acquiring six eco MRs and selling three older MRs, reducing the average fleet age. INSW enhanced its balance sheet by amending senior secured debt facilities, increasing revolving credit capacity by nearly $150 million and reducing mandatory repayments. The company declared a combined dividend of $1.50 per share for September 2024, representing a 12% yield. Total liquidity was approximately $682 million as of June 30, 2024, with a low net loan-to-value of 14%.

International Seaways (NYSE: INSW) has announced it will release its second quarter 2024 results on Wednesday, August 7, 2024, before the market opens. The company will host an investor conference call at 9:00 a.m. ET on the same day. Investors can join the call using the provided dial-in numbers or listen to a live webcast from the company's website. An audio replay of the call will be available from 12:00 p.m. ET on August 7 until 11:59 p.m. ET on August 14, 2024. This announcement provides shareholders and analysts with the opportunity to review INSW's financial performance and discuss future prospects with management.

International Seaways, Inc. (NYSE: INSW) reported strong first-quarter 2024 results with net income of $144.5 million, adjusted EBITDA of $191.5 million, and total liquidity of $626 million. The Company enhanced its balance sheet, returned $1.32 per share to shareholders in dividends, and declared a $1.75 per share dividend for June 2024. They optimized their fleet, acquiring vessels and entering time charter agreements, while strengthening their financial position through debt consolidation.

International Seaways, Inc. (INSW) will announce its first-quarter 2024 results on May 8, 2024. The company will host a conference call for investors at 9:00 a.m. Eastern Time on the same day. Investors can join the call through dial-in numbers or a live webcast on the company's website. An audio replay will also be available for a week following the call.

International Seaways, Inc. (NYSE: INSW) announced the nomination of new independent directors, Kristian K. Johansen and Darron M. Anderson, for election at the 2024 Annual Meeting of Stockholders. The Company will refresh its Board by nominating these directors, with Joseph I. Kronsberg retiring. The nominations follow discussions with Seatankers Group and an independent search process. The Company aims to leverage the new directors' expertise to drive strong earnings and execute its capital allocation strategy.

International Seaways, Inc. (INSW) reported strong financial results for the fourth quarter and full year of 2023, with record annual earnings, balance sheet enhancements, and returns to shareholders. The company's net income for 2023 increased to $556.4 million, with adjusted EBITDA of $723.8 million. Fleet optimization programs and strategic acquisitions contributed to the positive performance.

International Seaways, Inc. (INSW) is set to release its fourth quarter and full year 2023 results on February 29, 2024, and will host a conference call for investors at 9:00 a.m. ET on the same day. The conference call will be available via webcast and an audio replay will be accessible for a week following the call.