Tanker shipping company International Seaways will release second-quarter earnings on August 10
International Seaways (NYSE: INSW), a New York tanker shipping company, announced that it will announce its second quarter financial results for the period ending June 30, 2026, before the U.S. stock market opens on August 10, and will hold a live webcast conference at 10 a.m. Eastern Time that day. The company is one of the world's largest tanker shipping companies, operating about 70 ships, including VLCC, Suezmax, Aframax and other crude oil tankers and product tankers, transporting crude oil and petroleum products. In the first quarter of this year, the company's performance was strong: revenue reached US$325 million, a year-on-year increase of 77.5%; net profit was US$286 million, or US$5.75 per share, a historical record, a year-on-year increase of more than 4 times. The company simultaneously announced a quarterly dividend of US$4.55 per share and established a new policy of increasing the dividend payout ratio to 85% of adjusted net profit. The continued tight capacity of the tanker market supported performance growth. As of the end of the first quarter, the company's liquidity was approximately US$918 million, and its net debt ratio was less than 7%. Management stated that in the second quarter, approximately 45% of operating day revenue has been locked in, and the average daily equivalent time rental exceeds US$100,000, which is far below the break-even line of approximately US$14,900. Analysts expect revenue for the quarter to be approximately US$401 million and earnings per share of approximately US$5.70, but there are large differences in forecasts across different platforms. The company recently obtained approximately US$216 million in proceeds from the sale of seven old ships with an average age of 17 years. At the same time, it is promoting fleet renewal. Two of the four new LR1 ships have been delivered in 2026, and the remaining two are expected to be delivered in the third quarter.