International Seaways, Inc. reported fourth‑quarter 2025 results that surpassed consensus estimates, delivering a net income of $128 million and a diluted earnings per share of $2.56. Revenue rose to $268 million, up 37% from $194.61 million in Q4 2024, driven by higher spot charter earnings and a more favorable mix of crude and product tanker operations.
The revenue increase was largely attributable to a 15% rise in spot charter rates for crude tankers and a 12% lift in product tanker earnings, reflecting sustained demand in the global energy market and the company’s ability to secure premium rates. The stronger mix of crude and product segments also helped offset the modest decline in older, less efficient vessels that were sold as part of the fleet‑optimization program.
Liquidity was reported at $724 million, a figure that aligns with the company’s 12‑month‑end balance sheet and corrects the earlier misstatement of $985 million. Net debt‑to‑capital stood at 16.4%, and the dividend payout ratio reached 87% of adjusted net income, underscoring the company’s commitment to returning capital to shareholders while maintaining a solid balance sheet.
CEO Lois K. Zabrocky noted that the quarter represented the strongest performance since the first quarter of 2024, citing solid contributions from both crude and product segments and the successful execution of the fleet‑renewal strategy. She emphasized that the sale of older vessels and the acquisition of modern, eco‑efficient tonnage have reduced average fleet age and daily cash breakevens, positioning the company for continued growth in a tight market.
Management guided for Q1 2026 earnings of $2.10 per share and Q2 2026 earnings of $1.63 per share, maintaining confidence in the company’s ability to sustain profitability amid ongoing supply‑demand imbalances. The guidance reflects expectations of continued demand for spot charter services and the benefits of the fleet‑modernization program, while acknowledging potential headwinds from rising operating costs and geopolitical uncertainties.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.