Nov 5, 7:30 AM ET
International Seaways reported third quarter 2026 net income of $344 million, or $6.90 per diluted share, up from $71 million, or $1.42 per share, a year earlier; the filing says the result included a $53 million gain on a vessel sale. The Board also declared a $5.05 per share dividend and raised its share repurchase program to $100 million, which bears directly on shareholder returns.
- Net income of $344 million ($6.90 per diluted share) vs. $71 million ($1.42) in Q3 2025, including a $53 million gain on vessel sale
- Adjusted net income of $291 million, or $5.84 per diluted share; adjusted EBITDA of $345 million
- Declared dividend of $5.05 per share, payable December 23, 2026, to holders of record on December 9, 2026
- Share repurchase program increased to $100 million and extended from end of 2026 to end of 2028
Read the filing on SEC.gov ↗
Oct 23, 5:00 PM ET
On October 19, 2026, a subsidiary of International Seaways agreed to become a subsidiary guarantor under its $500 Million revolving credit facility and to pledge one VLCC tanker as collateral. The tanker is a substitution vessel that replaces a collateral vessel sold in the third quarter of 2026. The filing describes a change to existing loan security rather than new borrowing, and it gives no financial results or amounts.
- Joinder agreement dated October 19, 2026, under the Credit Agreement dated May 20, 2022, as amended through October 7, 2025
- Subsidiary agreed to be bound as subsidiary guarantor and to pledge one VLCC tanker as collateral
- The tanker replaces a collateral vessel sold and announced in the third quarter of 2026
- Nordea Bank Abp, New York Branch, serves as administrative agent and collateral agent
Read the filing on SEC.gov ↗
Oct 16, 6:04 AM ET
International Seaways agreed to acquire Bruton Limited, a Bermuda tanker company valued at about $370 million, through a share exchange with holders of about 50.5% of Bruton's shares and a later merger. The same release gave preliminary third-quarter 2026 results, with shipping revenues of $480-$490 million and net income of $340-$350 million, including a gain of about $50 million on a vessel sale, while blended spot earnings fell from the second quarter but rose from a year earlier. Shareholders should note that the Bruton merger is subject to a Bruton shareholder vote and that the share issuance will dilute existing holders.
- Bruton is valued at about $370 million; holders of about 50.5% of its shares will exchange them for 0.05190 Seaways shares each, with that exchange expected to close on or about October 20, 2026.
- Bruton holders of 10,000 or fewer shares will receive $6.3044 cash per share; the merger is expected to close after Bruton's special meeting on or about October 30, 2026, and either party may terminate if it has not closed by November 15, 2
- Preliminary Q3 2026: shipping revenues of about $480-$490 million, net income of about $340-$350 million including a gain of about $50 million on a 2012-built Suezmax sale, and total liquidity of about $965 million.
- Seaways expects to issue about 3.12 million shares, about 96% of the total consideration; blended spot earnings were about $68,000 per day in Q3 versus $79,000 in Q2 2026 and $29,000 in Q3 2025.
Read the filing on SEC.gov ↗
Aug 10, 7:30 AM ET
International Seaways reported second quarter 2026 net income of $295 million, or $5.91 per diluted share, up from $62 million, or $1.25 per share, a year earlier. The Board also declared a $5.05 per share quarterly dividend, which the company describes as its largest ever, payable September 24, 2026, to holders of record on September 10, 2026.
- Net income of $295 million, or $5.91 per diluted share, versus $62 million, or $1.25, in Q2 2025.
- Shipping revenues of $467 million versus $196 million; adjusted EBITDA of $345 million versus $102 million.
- Quarterly dividend of $5.05 per share declared August 7, 2026; record date September 10 and payment date September 24, 2026.
- Free cash flow of $261 million in the quarter; total liquidity of approximately $935 million as of June 30, 2026.
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.