International Seaways 2025 Q3 Earnings Net Income Declines 23.1% Amid Mixed Price Action

International Seaways reported fiscal 2025 Q3 earnings on Nov 7, 2025, with revenue falling 12.8% to $196.39M and net income declining 23.1% to $70.55M. The results missed expectations, with EPS dropping 22.7% to $1.43. Despite the earnings miss, the stock surged 20.86% month-to-date, reflecting strong investor sentiment amid favorable tanker market dynamics.

Revenue

The company’s total revenue decreased by 12.8% to $196.39 million in 2025 Q3, down from $225.19 million in 2024 Q3. The Crude Tankers segment contributed $96 million in shipping revenues, a 6% decline, while the Product Carriers segment saw a sharper 18% drop to $100 million. These reductions were attributed to lower average daily rates and the sale of older vessels.

Earnings/Net Income

International Seaways’s EPS declined 22.7% to $1.43 in 2025 Q3 from $1.85 in 2024 Q3. Meanwhile, the company's net income fell to $70.55 million, a 23.1% decrease from $91.69 million in 2024 Q3. The earnings contraction reflects weaker TCE revenues and the impact of vessel sales. The results indicate a challenging operating environment, with declining profitability despite strategic fleet optimization.

Post-Earnings Price Action Review

The stock price of International Seaways has edged up 2.03% during the latest trading day, has climbed 4.06% during the most recent full trading week, and has surged 20.86% month-to-date.

CEO Commentary

Lois Zabrocky, President and CEO

emphasized continued fleet renewal and shareholder returns. "We sold eight vessels for $100 million and acquired a 2020-built scrubber-fitted VLCC, maintaining a 75%+ payout ratio. Our $50 million share repurchase program is extended to 2026, and we expect strong free cash flow into 2026 amid favorable tanker supply-demand dynamics."

Guidance

The company highlighted "continued strong free cash flow amid favorable tanker supply-demand dynamics and low break-even rates into 2026." It expects to execute sales and purchases throughout the tanker cycle, with a focus on maintaining a low net loan-to-value ratio of 13%.

Additional News

International Seaways extended its $50 million share repurchase program to the end of 2026, signaling confidence in shareholder value. The board declared a combined dividend of $0.86 per share, including a $0.12 regular and $0.74 supplemental payout, reflecting a 75%+ payout ratio. Additionally, the company secured $250 million in senior unsecured bonds to repay sale-leaseback obligations, unencumbering six VLCCs and reducing interest costs.