International Seaways Q4 2023 GAAP EPS $2.68 Beats $2.09 Estimate, Total Shipping Revenues $250.70M Beat $237.95M Estimate
Portfolio Pulse from Benzinga Newsdesk
International Seaways (NYSE:INSW) reported Q4 2023 earnings of $2.68 per share, surpassing the $2.09 estimate, with total shipping revenues of $250.70M beating the $237.95M estimate. This represents a 25.86% decrease in sales compared to the same period last year.
February 29, 2024 | 11:46 am
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International Seaways reported a significant beat on both earnings and revenue estimates for Q4 2023, with earnings of $2.68 per share and revenues of $250.70M.
Beating both earnings and revenue estimates significantly, especially by 28.23% for earnings, is likely to positively impact investor sentiment towards INSW in the short term. However, the 25.86% decrease in sales year-over-year might temper some of the positive momentum, indicating potential challenges in the shipping sector or operational efficiencies that need to be addressed.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100