Loading...
•
Mar 31, 2022
International Seaways Q1 2022 Earnings Report
International Seaways reported first quarter 2022 results with a net loss, but strategic objectives were advanced by solidifying the balance sheet and optimizing the fleet.
Key Takeaways
International Seaways reported a net loss of $13.0 million for the first quarter of 2022, compared to a net loss of $13.4 million for the same period in 2021. The company continued to advance its strategic objectives by optimizing its fleet and strengthening its balance sheet. Consolidated TCE revenues increased to $98.0 million, driven by a significant increase in revenue days following the merger.
Net loss for the first quarter of 2022 was $13.0 million, or $0.26 per diluted share.
Consolidated TCE revenues for the first quarter were $98.0 million, compared to $45.2 million for the first quarter of 2021.
Adjusted EBITDA for the first quarter was $26.0 million, compared to $10.7 million for the first quarter of 2021.
The Company sold a 2010-built MR and purchased a 2011-built LR1 during the first quarter of 2022.
Revenue by Segment
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...