International Seaways Reports Third Quarter 2019 Results

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Go back to International Seaways Reports Third Quarter 2019 Results

International Seaways (INSW) Misses Q3 EPS by 1c, Revenues Miss

November 7, 2019 6:27 AM EST

International Seaways (NYSE: INSW) reported Q3 EPS of ($0.38), $0.01 worse than the analyst estimate of ($0.37). Revenue for the quarter came in at $71.28 million versus the consensus estimate of $72.63 million.

Highlights

Net loss for the third quarter was $11.1 million, or $0.38 per share, compared to a net loss of $47.8 million, or $1.64 per share, in the third quarter of 2018. Net loss for the quarter reflects the impact of a gain on vessel sales of $1.5 million and $0.4 million of charges related to a $10 million prepayment on the 2017 Term Loan Facility. Net loss excluding these items was $12.1 million, or... More