05/08 (Happy holiday-with-no-day-off!)
Tanker shipper International Seaways (INSW) announced results earlier today
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Rev of $183.4M
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Adj Net Income of $39.9M (there was a gain from vessel sales)
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Declared div of 60c/sh (lower than Q4 2024, lower than Q1 2024)
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Over 350 out-of-service days in Q1 2025. Even > in Q2 2025
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Announced another $50M share buyback
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Had trimmed my INSW stake in mid-Feb 2025 Roth ac. Shares retreated a lot more, so great move on my part.
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Had trimmed my INSW stake in mid-April 2025. Need to wait about 10 days to avoid wash sale. Will I wait? Undecided at this time
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Had started rebuilding my Roth ac INSW stake in mid-to-late Feb 2025. Status? Work-in-progress
Well managed company. INSW has sufficient liquidity to manage their business, and additionally have 34 vessels unencumbered. INSW also begins to take delivery of newbuilds during H2 2025.