International Seaways (INSW) FY2018 results: revenue $270 million, down 6.8% on the year
International Seaways, Inc. (INSW) reported revenue of $270 million for fiscal 2018, the year ended 31 December 2018, down 6.8% on the year before. Net income was -$89 million, and diluted earnings per share $-3.05. The figures are the company's own, from the 10-K it filed with the SEC on 12 March 2019.
Revenue
$270 million
-6.8% on the year
FY2014FY2018
Operating margin
-20.2%
-37.2% a year earlier
FY2014FY2018
Net income
-$89 million
FY2014FY2018
Diluted EPS
-$3.05
FY2014FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
270
290
398
-6.8%
Operating income
-54.5
-108
7.2
Operating margin
-20.2%
-37.2%
1.8%
Interest expense
60.2
41.2
40.4
+46.0%
Pre-tax income
-89.0
-106
-17.7
Income tax
-0.1
0.0
0.4
Net income
-88.9
-106
-18.2
Net margin
-32.9%
-36.6%
-4.6%
Diluted EPS
-$3.05
-$3.64
-$0.62
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
-12.5
17.4
129
Capital expenditure
149
174
2.0
-14.2%
Free cash flow
-161
-156
127
Free cash flow margin
-59.7%
-53.8%
31.9%
Cash from investing
124
-137
2.5
Cash from financing
-64.2
98.0
-357
Depreciation and amortisation
72.4
78.9
79.9
-8.1%
Share-based compensation
3.2
3.8
2.8
-17.0%
Dividend per share
n/a
$6.93
$6.93
Diluted shares, weighted
29m
29m
29m
-0.1%
Shares outstanding at period end
29m
29m
29m
+0.3%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,010
1,086
1,180
-7.0%
Debt
811
553
440
+46.6%
Other liabilities
28.1
25.9
43.4
+8.4%
Total liabilities and equity
1,849
1,664
1,663
+11.1%
Fixed assets
1,331
1,105
1,100
+20.5%
Cash and equivalents
58.3
60.0
92.0
-2.9%
Receivables
94.6
58.2
66.9
+62.6%
Inventory
3.1
3.3
1.3
-6.2%
Other assets
362
438
402
-17.4%
Total assets
1,849
1,664
1,663
+11.1%
10-K for the year ended 31 December 2018, filed 12 March 2019: the filing.