International Seaways Reports Second Quarter 2020 Results
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International Seaways (INSW) Misses Q2 EPS by 4c, Revenues Miss
August 7, 2020 6:51 AM EDTInternational Seaways (NYSE: INSW) reported Q2 EPS of $2.39, $0.04 worse than the analyst estimate of $2.43. Revenue for the quarter came in at $139.73 million versus the consensus estimate of $144.5 million.
Highlights
Net income for the second quarter was $64.4 million, or $2.24 per diluted share, compared to a net loss of $16.5 million, or $0.57 per diluted share, in the second quarter of 2019. Net income for the quarter reflects the impact of a $4.1 million impairment charge and gain on sale of vessels. Net income excluding these items was $68.5 million, or $2.39 per diluted share.Time charter equivalent (TCE)... More