International Seaways reports Q4 adjusted EPS $2.18, consensus $2.10

Reports Q4 revenue $250.7M, consensus $237.95M. “2023 marked another record year for Seaways and our portfolio of tanker assets,” said Lois Zabrocky, CEO. “During the year, drawing on our substantial cash flows, we continued to pull all the levers of our balanced capital allocation strategy. Looking ahead, we expect to continue executing this balanced approach and further building on our track record of opportunistically renewing the fleet, improving the balance sheet, and returning substantial cash to shareholders. Seaways has significant momentum that we expect to carry forward throughout the year, as positive market fundamentals remain intact. Strong tanker demand continues to be driven by growing oil demand and higher utilization from the evolving global energy trade where energy security is prioritized. Combined with the lowest orderbook in more than 30 years and an aging global fleet, we remain confident that current tanker market dynamics will prove to be sustainable in the near term and drive strong earnings for the foreseeable future.”