<span item_type="fundamental" item_id="bf1aa47f49e8e279f1b66d041ef47346" counter_id="ST/US/INSW" env="prod"></span><span item_type="announcement" item_id="645711254988459521" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 325.48 M.</p><p>EPS: As of FY2026 Q1, the actual value is USD 5.75, beating the estimate of USD 2.9413.</p><p>EBIT: As of FY2026 Q1, the actual value is USD 295.1 M.</p><p></p><h4>Net Income</h4><p>International Seaways, Inc. reported net income of $286 million for the first quarter of 2026, a significant increase from $50 million in the first quarter of 2025. Diluted net income per share also rose to $5.75 for Q1 2026, up from $1.00 for Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span></p><h4>Adjusted Net Income</h4><p>Adjusted net income for the first quarter of 2026 was $194 million, or $3.90 per diluted share, compared to $39,544 thousand, or $0.80 per diluted share, for the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span></p><h4>Adjusted EBITDA</h4><p>Adjusted EBITDA for the first quarter of 2026 was $244 million, an increase from $90,701 thousand for the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span></p><h4>Total Shipping Revenues</h4><p>Total shipping revenues for the first quarter of 2026 were $325,476 thousand, up from $183,394 thousand in the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span></p><h4>Consolidated TCE Revenues</h4><p>Consolidated TCE revenues for the first quarter of 2026 were $317 million, compared to $178 million for the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span></p><h4>Operating Income</h4><p>Operating income for the first quarter of 2026 was $292,484 thousand, substantially higher than $59,173 thousand in the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span></p><h4>Total Operating Expenses</h4><p>Total operating expenses decreased to $38,811 thousand in Q1 2026 from $124,221 thousand in Q1 2025, primarily due to a substantial gain on disposal of vessels.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span></p><h4>Interest Expense</h4><p>Interest expense decreased to - $8,959 thousand in Q1 2026 from - $11,452 thousand in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span></p><h4>Cash Flows from Operating Activities</h4><p>Net cash provided by operating activities increased to $141,061 thousand in Q1 2026 from $69,947 thousand in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span></p><h4>Cash Flows from Investing Activities</h4><p>Net cash used in investing activities was - $37,634 thousand in Q1 2026, contrasting with net cash provided of $36,915 thousand in Q1 2025. This includes expenditures for vessels of - $70,655 thousand and proceeds from disposal of vessels of $222,833 thousand in Q1 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span></p><h4>Cash Flows from Financing Activities</h4><p>Net cash used in financing activities was - $78,502 thousand in Q1 2026, an improvement from - $131,599 thousand in Q1 2025. This includes cash dividends paid of - $106,435 thousand in Q1 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span></p><h4>Segment Performance - Crude Tankers</h4><ul><li><strong>Shipping Revenues:</strong> $191 million in Q1 2026, up from $88 million in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span></li><li><strong>TCE Revenues:</strong> $184 million in Q1 2026, compared to $85 million in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span></li><li><strong>Average Spot Earnings:</strong> Increased by over $41,000 per day in Q1 2026 compared to Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span></li><li><strong>Average Time Charter Earnings:</strong> Increased by approximately $46,500 per day in Q1 2026 compared to Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span></li></ul><h4>Segment Performance - Product Carriers</h4><ul><li><strong>Shipping Revenues:</strong> $134 million in Q1 2026, up from $95 million in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span></li><li><strong>TCE Revenues:</strong> $133 million in Q1 2026, compared to $94 million in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span></li><li><strong>TCE Revenues from Spot Earnings:</strong> Increased by approximately $21,000 per day in Q1 2026 compared to Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span></li></ul><h4>Balance Sheet Highlights (as of March 31, 2026)</h4><ul><li><strong>Total Liquidity:</strong> Approximately $918 million, comprising $377 million in cash and $541 million in undrawn revolving credit capacity.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span></li><li><strong>Net Loan-to-Value:</strong> Below 7%.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span></li><li><strong>Long-term Debt:</strong> $573,927 thousand, compared to $541,291 thousand as of December 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span></li><li><strong>Total Equity:</strong> $2,194,275 thousand, an increase from $2,020,277 thousand as of December 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span></li></ul><h4>Operational Metrics</h4><p>International Seaways, Inc. sold seven vessels (five MRs, two VLCCs) for approximately $216 million net proceeds, recognizing $88 million in gains in Q1 2026. The company took delivery of <em>Seaways Bonita</em> in Q1 2026 and <em>Seaways Cristobal</em> in April 2026, with the remaining two LR1 vessels expected to deliver during Q3 2026. As of March 31, 2026, the fleet totaled 67 vessels (59 owned, 8 chartered-in), with 3 LR1 newbuilds remaining.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span> An additional three-year time charter for a Suezmax was entered into, providing approximately $43 million in future contracted revenue, bringing the total future contracted revenues for 14 vessels on time charter to approximately $223 million as of April 1, 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span></p><h4>Dividends</h4><p>International Seaways, Inc.’s Board of Directors declared a combined dividend of $4.55 per share of common stock, payable in the second quarter of 2026, consisting of a supplemental dividend of $4.43 per share and a regular quarterly dividend of $0.12 per share. This represents the largest quarterly dividend in company history, increasing the payout ratio to 85% of adjusted net income with an additional discretionary component. The company paid $2.15 per share in total dividends in March 2026, reaching $1 billion returned to shareholders since 2020.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span><span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_8k.htm"></span></p><h4>Outlook</h4><p>International Seaways, Inc. anticipates a strong market environment, expecting tanker markets to benefit from rebalancing trade flows and inventory replenishment. The company remains focused on delivering attractive returns and creating long-term value for shareholders, maintaining a robust balance sheet with low leverage and significant liquidity. A strong start to the second quarter further positions the company opportunistically across its capital allocation priorities.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1679049/000110465926056695/tm2613836d1_ex99-1.htm"></span></p>

International Seaways | 8-K: FY2026 Q1 Revenue: USD 325.48 M