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Jun 30, 2022
International Seaways Q2 2022 Earnings Report
International Seaways demonstrated significant operating leverage and earnings power, capitalizing on strong oil markets and advancing its industry position.
Key Takeaways
International Seaways reported a net income of $69.0 million for the second quarter of 2022, compared to a net loss of $18.8 million for the same period in 2021. The company capitalized on strong oil markets, increased its dividend, and completed a senior secured debt refinancing.
Net income for Q2 2022 was $69.0 million, or $1.38 per diluted share, compared to a net loss of $18.8 million, or $0.67 per diluted share, for Q2 2021.
Consolidated TCE revenues for Q2 2022 were $185.5 million, compared to $44.7 million for Q2 2021.
Adjusted EBITDA for Q2 2022 was $111.7 million, compared to $9.8 million for Q2 2021.
The company doubled its quarterly dividend to $0.12 per share and total liquidity at quarter’s end to over $450 million.
Revenue by Segment
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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