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Sep 30, 2020
International Seaways Q3 2020 Earnings Report
Generated solid results and increased cash position despite current pressure on rates.
Key Takeaways
International Seaways reported a net income of $14.0 million for Q3 2020, compared to a net loss of $11.1 million in Q3 2019. The increase primarily reflects higher TCE revenues and substantially lower charter hire expenses and interest expense. The company's total liquidity at quarter's end was $194 million, and the net loan to value was 39%.
Generated solid results and increased cash position despite current pressure on rates.
Reduced cash breakeven rate to approximately $17,500 per day.
Finalized 10-year extensions for FSO joint venture contracts, which are expected to generate in excess of $322 million of contract revenues.
Total liquidity at quarter’s end was $194 million, and net loan to value was 39%.
Revenue by Segment
Forward Guidance
International Seaways remains positive on the long-term outlook of the tanker market and continues to advance initiatives that unlock significant value for shareholders.
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
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