International Seaways Tops Q2 Estimates On Strong TCE Revenues
Portfolio Pulse from Lekha Gupta
International Seaways Inc (NYSE:INSW) reported Q2 FY23 shipping revenue of $292.2 million, beating the consensus of $253.4 million. Adjusted EPS of $3.12 also beat the consensus of $2.64. Consolidated TCE revenues rose to $288.3 million, reflecting sanctions on Russian oil that led to longer voyages and higher tanker utilization. The company also declared a quarterly dividend per share of $0.12 and a supplemental dividend per share of $1.30. INSW shares are trading higher by 7.88%.
August 09, 2023 | 2:31 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
International Seaways reported strong Q2 results, beating estimates and declaring dividends. This has led to a rise in the company's share price.
International Seaways reported strong Q2 results, beating estimates. This positive financial performance, along with the declaration of dividends, has likely contributed to the rise in the company's share price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100