International Seaways reports Q2 adjusted EPS $2.37, consensus $2.51

Reports Q2 revenue $257.4M, consensus $257.3M. “We maintained strong momentum in the second quarter, drawing on Seaway’s substantial cash flows to continue to execute the Company’s balanced capital allocation strategy for the benefit of shareholders,” said Lois Zabrocky, International Seaways President and CEO. “We continued to renew our MR fleet, one of the strongest earning classes, with the acquisition of six modern vessels and sales of older tonnage. At the same time, we increased our liquidity to position the Company for future growth while returning a 12% yield to shareholders.”