Core Viewpoint - International Seaways (NYSE: INSW) is highlighted as a strong investment opportunity in the tanker market, known for impressive dividends and a solid balance sheet [1]. Group 1: Investment Characteristics - INSW is considered the closest way to invest in the broad tanker market, making it an attractive option for investors [1]. - The company distributes significant dividends, which are appealing to income-focused investors [1]. - The balance sheet of INSW is noted to be robust, indicating financial stability [1]. Group 2: Investment Strategy - The author emphasizes a preference for overlooked companies that offer asymmetric risk rewards and juicy dividend yields [1]. - A filtering process for new investment ideas includes looking for at least two of the three characteristics: being overlooked, offering asymmetric risk rewards, and paying dividends [1]. - The analytical approach is fundamentally driven, with a focus on numbers and technical analysis to optimize market timing [1].

International Seaways, Inc. Third Quarter 2024 Earnings Presentation November 7, 2024 INSW NYSE Disclaimer Forward-Looking Statements During the course of this presentation, the Company (International Seaways, Inc. (INSW)) may make forward-looking statements or provide forward-looking information. All statements other than statements of historical facts should be considered forward-looking statements. Some of these statements include words such as ''outlook,'' ''believe,'' ''expect,'' ''potential,'' ''conti ...

Financial Data and Key Metrics Changes - Net income for Q3 2024 was $92 million or $1.84 per diluted share, with adjusted net income at $78 million or $1.57 per share [8][19] - EBITDA exceeded $143 million, with adjusted EBITDA at $130 million [9][20] - Total liquidity was nearly $700 million, including over $540 million of undrawn revolver capacity [9][25] - Gross debt stood at $660 million, with net debt at $500 million, resulting in a net loan to vessel value of under 14% [9][25] Business Line Data and Key Metrics Changes - The lightering business generated nearly $13 million in revenue for the quarter, contributing over $4 million in EBITDA [21] - The company sold three 15-year-old MRs for a total of $72 million and acquired six MRs under 10 years old for $232 million [10] Market Data and Key Metrics Changes - Oil demand growth over the next two years is projected to be at or above the growth rate of the last 30 years, despite a slowdown in China's oil demand growth [13] - OPEC Plus production was weaker due to disruptions, with a decision to hold off increasing output until January 2025 [14] - OECD inventories showed a slight build in Q3, while U.S. inventories have shown draws, negatively impacting short-term tanker demand [15] Company Strategy and Development Direction - The company maintains a balanced capital allocation approach, focusing on fleet renewal and enhancing the balance sheet while providing a double-digit dividend yield [12][31] - The limited tanker supply is expected to support strong tanker earnings in the coming years, positioning the company to capitalize on favorable market conditions [17] Management Comments on Operating Environment and Future Outlook - Management noted that geopolitical uncertainties and potential sanctions could impact oil tanker demand, particularly regarding Russian and Venezuelan flows [40] - The company anticipates continued strength in the tanker market, with demand growth projections for 2025 ranging from 1 million to 1.5 million barrels [48] Other Important Information - The company returned nearly $100 million to shareholders through dividends and share repurchases, representing 84% of the prior quarter's adjusted net income [24] - The average spot TCE for the fleet was about $27,200 per day, with a forward spot breakeven rate of approximately $13,300 per day [27] Q&A Session Summary Question: What is driving the softness in the product tanker market? - Management indicated that while MR spot performance was strong, refinery margins are under pressure, and some EU refineries may close, impacting product demand [35][36] Question: How does the closure of the Los Angeles refinery impact the West Coast Panamax business? - The closure is expected to lead to increased imports into PAD 5 and potentially benefit the company as crude sourced locally is displaced [44] Question: What are the implications of potential energy sanctions on Russia? - Management noted that increased sanctions could reduce oil flows and potentially lead to more U.S. drilling and exports, creating uncertainty in the market [40] Question: How does the company view its share repurchase program? - The company plans to monitor the market and use the repurchase program as a tool, but dividends remain the preferred method of returning cash to shareholders [42] Question: What is the outlook for ship recycling given the aging fleet? - Management suggested that tighter sanctions could force older vessels out of trade, potentially increasing recycling rates [55]

International Seaways (INSW) came out with quarterly earnings of $1.57 per share, beating the Zacks Consensus Estimate of $1.42 per share. This compares to earnings of $1.99 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 10.56%. A quarter ago, it was expected that this company would post earnings of $2.50 per share when it actually produced earnings of $2.37, delivering a surprise of -5.20%.Over the last four quarters, the co ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-37836-1 INTERNATIONAL SEAWAYS, INC. (Exact name of registrant as specified in its charter) | --- | --- | |------------------ ...

Exhibit 99.1 HIGHLIGHTS & RECENT DEVELOPMENTS Fleet Optimization Program: New York, NY – November 7, 2024– International Seaways, Inc. (NYSE: INSW) (the "Company," "Seaways," or "INSW"), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, today reported results for the third quarter 2024. Quarterly Results: · Net income for the third quarter of 2024 was $92 million, or $1.84 per diluted share. · Adjusted net income for the third quarte ...

When thinking about stocks with recession-resistant characteristics, a few key metrics come to mind. First are low-beta stocks. Beta measures how much a stock’s price moves compared to the overall market. A beta of 1 means that, on average, when the market went up 10% in a month, the stock also went up 10%. Conversely, if the market went down 10%, so did the stock. The stock market tends to fall in a recession. So, stocks with betas significantly less than one are likely to fall less than the market, raisin ...

Core Viewpoint - International Seaways (INSW) is well-positioned to benefit from the growing dislocation between oil supply and demand, with a strong focus on dividends and share buybacks, making it an attractive investment opportunity [1][20]. Company Overview - INSW owns a large fleet of crude and product tankers with an average age of 12.1 years, generating over 80% of its revenues from pool agreements [2][3]. - The fleet consists of more than 70 tankers, including 13 VLCCs, 13 Suezmax, and 36 Handymax/MR2 vessels [3]. Financial Performance - In 2Q24, INSW reported a fleetwide day rate of $37,940 and a daily operating expense (OPEX) of $8,600, with EPS declining to $2.91 from $3.11 year-over-year [2][10]. - The company declared a dividend of $1.50 per share for 2Q24, resulting in an 11.8% yield, and repurchased shares worth $25 million as part of a $50 million buyback program [2][14]. Revenue Breakdown - More than 80% of INSW's revenue comes from pool agreements, with 11% from time charters and 7% from voyage charters [2][4]. - Pool revenue declined by $40 million year-over-year, while time charter revenue grew by 19% [10]. Operating Efficiency - INSW's breakeven cash flow is $16,100 per day, indicating operational efficiency, and the company has maintained stable operating expenses despite revenue fluctuations [6][19]. - The company has a healthy balance sheet with a loan-to-value (LTV) ratio below 30% and total liquidity of $662 million [11][13]. Market Position - INSW trades at 76% of its net asset value (NAV), with a market capitalization of $2,450 million and a NAV of $3,207 million [15]. - The tanker market is expected to experience a supply deficit in the next 18-24 months due to an aging fleet and limited new ship deliveries [19]. Investment Appeal - The combination of a double-digit dividend yield, active share buybacks, and a solid financial position supports a "Strong Buy" rating for INSW [20].

A STORE D THING L TH 0 4 TIP H 4 Holly 4 17 l I HeliRy Listen and subscribe to the Marketplace Roundtable on these podcast platforms: International Seaways (NYSE:INSW) CEO Lois Zabrocky and CFO Jeff Pribor joined Value Investor's Edge Live on Aug. 27, 2024, to discuss the crude tanker and product tanker markets and ongoing company prospects. INSW has produced exceptional operating results over the past two years and their balance sheet has been transformed into rock-solid status. However, sentiment has rece ...

Nearmap Yesterday, International Seaways (NYSE:INSW) published its 2024-Q2 quarterly results. Despite the earnings per share missing analysts' expectations by $0.14/share, revenues met projections, leading to a 2.6% rise in the stock during pre-market trading. In this article, I will provide a comprehensive review of International Seaways earnings and I will explain why I believe the stock is worth a buy rating. If you are interested in oil tanker companies, you can have a look at some previous articles tha ...