International Seaways reports Q1 adjusted EPS 80c, consensus 64c

Reports Q1 revenue $183.4M, consensus $176.5M. CEO Lois Zabrocky commented, “We delivered encouraging results for Q1 2025, which were marked by a gradual strengthening of market conditions each month. Seaways took advantage of our balanced fleet of crude and product tankers to execute our disciplined capital allocation strategy. After two consecutive years of returning over $300M to shareholders, we declared a combined dividend of 60c per share for the first quarter, delivering on our intention to return 75% of adjusted net income to shareholders. With our enhanced scale through pool employment and our healthy balance sheet, we believe we are well positioned to build on our track record of delivering compelling returns and incremental value for shareholders.” CFO Jeff Pribor stated, “Seaways continues to deliver on its commitment to balanced capital allocation. For the third consecutive quarter, we are returning 75% or more of our adjusted net income to shareholders through dividends. At the same time, we are reducing debt to preserve substantial revolving credit capacity to support fleet growth. We remain active in renewing our fleet with our strategic vessel swap, sales of older tonnage and progress payments on our newbuilding program, even as broader market transaction activity has slowed. Based on our strong financial position, highlighted by total liquidity of $673M, we remain opportunistic with fleet renewal across our varied asset classes.