International Seaways: Q4 Earnings Snapshot
By AP News
Published - Feb 28, 2023, 07:09 AM ET
Last Updated - Jun 22, 2023, 07:08 PM EDT
NEW YORK (AP) — NEW YORK (AP) — International Seaways, Inc. (INSW) on Tuesday reported fourth-quarter net income of $218.4 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the New York-based company said it had profit of $4.40. Earnings, adjusted for non-recurring gains, came to $4.21 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $3.84 per share.
The company posted revenue of $338.2 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $311.4 million.
