International Seaways, Inc. income statement
In fiscal 2025, International Seaways, Inc. reported revenue of $843m, down 11.4% on the year before, operating income of $345m (a 41.0% margin) and net income of $309m, or $6.23 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 517 | 498 | 398 | 290 | 270 | 366 | 422 | 273 | 865 | 1,072 | 952 | 843 | 1,257 |
| General and administrative | 53 | 42 | 30 | 24 | 24 | 27 | 29 | 33 | 46 | 47 | 53 | 50 | 51 |
| Operating income | 5 | 176 | 7 | −108 | −55 | 55 | 40 | −112 | 443 | 615 | 455 | 345 | 807 |
| Interest expense | 56 | 43 | 40 | 41 | 60 | 66 | 37 | 37 | 58 | 66 | 50 | 43 | 41 |
| Provision for credit losses | — | — | — | — | — | 1 | −0 | — | — | — | — | — | — |
| Income before tax | −14 | 179 | −18 | −106 | −89 | −1 | −6 | −133 | 388 | 560 | 416 | 309 | — |
| Income tax | 1 | 0 | 0 | 0 | −0 | 0 | 0 | 2 | 0 | 4 | −1 | −0 | — |
| Net income | −119 | 173 | −18 | −106 | −89 | −1 | −6 | −133 | 388 | 556 | 417 | 309 | 779 |
| Diluted EPS | −$4.08 | $5.94 | −$0.62 | −$3.64 | −$3.05 | −$0.03 | −$0.20 | −$3.48 | $7.77 | $11.25 | $8.38 | $6.23 | $15.66 |
| Diluted shares (average) | 29m | 29m | 29m | 29m | 29m | 29m | 28m | 38m | 50m | 49m | 50m | 50m | 50m |
| EBITDA | 90 | 258 | 87 | −29 | 18 | 131 | 114 | −25 | 553 | 744 | 605 | 509 | 970 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 225 | 195 | 183 | 196 | 196 | 268 | 325 | 467 |
| General and administrative | 13 | 15 | 13 | 12 | 12 | 13 | 9 | 17 |
| Operating income | 101 | 45 | 59 | 69 | 79 | 138 | 289 | 301 |
| Interest expense | 12 | 12 | 11 | 10 | 10 | 12 | 9 | 11 |
| Income before tax | 92 | 35 | — | 62 | 71 | 127 | — | 295 |
| Income tax | −0 | −1 | — | 0 | — | −0 | — | −0 |
| Net income | 92 | 36 | 50 | 62 | 71 | 128 | 286 | 295 |
| Diluted EPS | $1.84 | $0.72 | $1.00 | $1.25 | $1.42 | $2.56 | $5.75 | $5.91 |
| EBITDA | 140 | 85 | 99 | 111 | 120 | 180 | 329 | 341 |
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