Overview

* International Seaways ( INSW ) Q3 adjusted EPS beats analyst expectations

* Adjusted net income for Q3 exceeds consensus estimates

* Company reports Q3 adjusted EBITDA surpassing analyst forecasts

Outlook

* International Seaways ( INSW ) expects continued strength in tanker rates in the near term

* Company cites oil demand growth and constrained tanker supply as market drivers

* Geopolitical factors and modest fleet growth impact tanker market conditions

Result Drivers

* FLEET OPTIMIZATION - Co sold older vessels and acquired new ones as part of its fleet optimization program

* BALANCE SHEET ENHANCEMENTS - Successful bond issuance and new financing arrangements to improve financial flexibility

* MARKET CONDITIONS - Strengthened market conditions and firm tanker rates supported results

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $1.15 $0.93 (5

Adjusted Analysts

EPS )

Q3 EPS $1.42

Q3 Beat $57 mln $38.98

Adjusted mln (3

Net Analysts

Income )

Q3 Net $71 mln

Income

Q3 Beat $108 mln $89.97

Adjusted mln (5

EBITDA Analysts

)

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the oil & gas transportation services peer group is "buy"

* Wall Street's median 12-month price target for International Seaways Inc ( INSW ) is $57.25, about 12.4% above its November 5 closing price of $50.14

* The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 8 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)