International Seaways Reports Fourth Quarter and Full Year 2020 Results
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International Seaways (INSW) Misses Q4 EPS by 1c, Revenues Miss
March 12, 2021 6:53 AM ESTInternational Seaways (NYSE: INSW) reported Q4 EPS of ($0.20), $0.01 worse than the analyst estimate of ($0.19). Revenue for the quarter came in at $56.7 million versus the consensus estimate of $62.02 million.
Highlights
Net loss for the twelve months ended December 31, 2020 was $5.5 million, or $0.20 per diluted share. Net loss for 2020 reflects the impact of impairments and loss on sale of vessels of $100.1 million and various expenses related to refinancing of $14.5 million, and a non-cash deferred tax provision of $16.4 million recorded as a reduction of equity in results of the FSO (Floating Storage Offloading) joint ventures,... More