What's in the Offing for International Seaways in Q4 Earnings?

Core Viewpoint - International Seaways (INSW) is expected to report a significant decline in earnings and revenues for the fourth quarter of 2024, reflecting challenges in the tanker market and overall economic conditions [2][4]. Earnings Estimates - The Zacks Consensus Estimate for INSW's earnings has been revised downward by 34% to 70 cents per share, which is a 67.9% decline from the fourth quarter of 2023 actuals [2]. - Revenue estimates for the upcoming quarter are pegged at $177.7 million, indicating a 29.1% decrease from the previous year's actuals [2]. Earnings Performance History - INSW has a strong earnings surprise record, surpassing the Zacks Consensus Estimate in three of the last four quarters, with an average beat of 8.2% [3]. Market Conditions - The tanker market is currently facing bearish conditions, with low tanker rates due to a slowdown in global economic growth, oversupply of vessels, and subdued demand impacting shipping rates [4]. Segment Performance - Shipping revenues are anticipated to decline in the December quarter, particularly in the Crude Tankers and Product Carriers segments. However, INSW's diverse fleet may help mitigate some of the negative impacts [5]. Cost Management - Efforts to control costs are expected to positively influence INSW's bottom-line performance in the upcoming quarter [5]. Earnings Prediction - The model predicts an earnings beat for INSW, supported by a positive Earnings ESP of +48.58% and a Zacks Rank of 3 (Hold) [6][7]. Stock Performance - INSW's shares have outperformed the Zacks Transportation—Shipping industry and competitors like Star Bulk Carriers (SBLK) and Seanergy Maritime Holdings (SHIP) over the past 30 days, driven by effective cost control measures [8].