International Seaways Q2 2024 Adj. EPS $2.37 Misses $2.51 Estimate, Shipping Revenues $257.400M Beat $257.304M Estimate
Portfolio Pulse from Benzinga Newsdesk
International Seaways (NYSE:INSW) reported Q2 2024 adjusted EPS of $2.37, missing the $2.51 estimate, while shipping revenues of $257.4M slightly beat the $257.304M estimate. Sales decreased by 11.91% compared to the same period last year.
August 07, 2024 | 10:46 am
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NEGATIVE IMPACT
International Seaways reported Q2 2024 EPS of $2.37, missing estimates by 5.58%, while revenues of $257.4M slightly beat expectations. Sales decreased by 11.91% YoY.
The miss on EPS by 5.58% is likely to have a negative impact on the stock price in the short term, despite the slight beat on revenues. The significant YoY sales decrease of 11.91% adds to the negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100