International Seaways Q2 profit beat estimates on higher TCE rates
INSW•Operational drivers
Higher spot earnings and improved profit-sharing on time charters drove higher TCE revenues across the fleet, the company said.
Higher average spot and time charter earnings in both crude and product segments contributed to revenue growth. Delivery of newbuild vessels and the sale of older ships also supported operational performance.
Key reported figures
| Metric | Actual | Consensus Estimate |
|---|---|---|
| Q2 Shipping Revenue | $467.29 million | |
| Q2 Adjusted EPS | $5.91 | $4.83 |
| Q2 EPS | $5.91 | |
| Q2 Net Income | $295 million | |
| Q2 Adjusted EBITDA | $345 million | $340.35 million |
Outlook and liquidity
The company expects delivery of two LR1 newbuildings in the third quarter of 2026.
International Seaways said it has $240 million in future contracted revenue from time charters as of July 2026. It also said strong liquidity supports opportunistic investments without compromising capital allocation discipline.
Q2 results beat estimates
US tanker operator International Seaways said its second-quarter adjusted earnings per share beat analyst expectations, while shipping revenue more than doubled year over year. Adjusted EBITDA also beat analyst estimates, driven by higher TCE rates and profit-sharing.
