International Seaways, Inc.

International Seaways, Inc. Earnings Recaps

INSW Industrials 1 recap
Q3 2025 Nov 7, 2025

International Seaways reported a strong Q3 2025 with net income of $71 million, driven by effective fleet management and a commitment to returning capital to shareholders.

Key takeaways
  • Adjusted net income stood at $57 million ($1.15 per diluted share) with adjusted EBITDA of $108 million.
  • The company announced a combined dividend of $0.86 per share, marking its fifth consecutive quarter with a payout ratio exceeding 75%.
  • Two new LR1 vessels were delivered during the quarter, financed through an $82 million facility, contributing to fleet modernization.
  • The sale of five older vessels generated $67 million, with plans to sell three more in Q4 for an additional $37 million.
  • Robust liquidity position with total liquidity of $985 million and a low net loan-to-value ratio of 13%.
Full recap