International Seaways Reports First Quarter 2020 Results
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International Seaways (INSW) Misses Q1 EPS by 34c, Revenues Beat
May 7, 2020 7:39 AM EDTInternational Seaways (NYSE: INSW) reported Q1 EPS of $1.12, $0.34 worse than the analyst estimate of $1.46. Revenue for the quarter came in at $125.34 million versus the consensus estimate of $121.89 million.
Highlights
Net income for the first quarter was $33.0 million, or $1.12 per diluted share, compared to a net income of $10.9 million, or $0.37 per diluted share, in the first quarter of 2019. Net income for the quarter reflects the impact of a $2.8 million gain on sale of vessels, a $12.5 million write-off of deferred financing costs, and a $1.0 million loss from the extinguishment of debt. Net income excluding... More