International Seaways Reports Third Quarter 2020 Results
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International Seaways (INSW) Tops Q3 EPS by 28c, Revenues Beat
November 6, 2020 6:52 AM ESTInternational Seaways (NYSE: INSW) reported Q3 EPS of $0.98, $0.28 better than the analyst estimate of $0.70. Revenue for the quarter came in at $99.88 million versus the consensus estimate of $87.54 million.
Highlights
Net income for the third quarter was $14.0 million, or $0.50 per diluted share, compared to a net loss of $11.1 million, or $0.38 per diluted share, in the third quarter of 2019. Net income for the quarter reflects the impact of a $12.8 million impairment charge and loss on sale of vessels and a $0.7 million write-off of deferred finance costs and fees associated with the extinguishment of debt. Net... More