International Seaways (INSW) FY2019 results: revenue $366 million, up 35.4% on the year
International Seaways, Inc. (INSW) reported revenue of $366 million for fiscal 2019, the year ended 31 December 2019, up 35.4% on the year before. Net income was -$830,000, and diluted earnings per share $-0.03. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2020.
Revenue
$366 million
+35.4% on the year
FY2014FY2019
Operating margin
15.1%
-20.2% a year earlier
FY2014FY2019
Net income
-$830,000
FY2014FY2019
Diluted EPS
-$0.03
FY2014FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
366
270
290
+35.4%
Operating income
55.2
-54.5
-108
Operating margin
15.1%
-20.2%
-37.2%
Interest expense
66.3
60.2
41.2
+10.0%
Pre-tax income
-0.8
-89.0
-106
Income tax
0.0
-0.1
0.0
Net income
-0.8
-88.9
-106
Net margin
-0.2%
-32.9%
-36.6%
Diluted EPS
-$0.03
-$3.05
-$3.64
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
87.5
-12.5
17.4
Capital expenditure
36.6
149
174
-75.4%
Free cash flow
50.9
-161
-156
Free cash flow margin
13.9%
-59.7%
-53.8%
Cash from investing
108
124
-137
-12.8%
Cash from financing
-163
-64.2
98.0
Depreciation and amortisation
75.7
72.4
78.9
+4.5%
Share-based compensation
4.3
3.2
3.8
+35.3%
Dividend per share
n/a
n/a
$6.93
Diluted shares, weighted
29m
29m
29m
+0.3%
Shares outstanding at period end
29m
29m
29m
+0.3%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,022
1,010
1,086
+1.2%
Debt
661
811
553
-18.5%
Operating lease liabilities
18.0
n/a
n/a
Other liabilities
52.2
28.1
25.9
+85.8%
Total liabilities and equity
1,754
1,849
1,664
-5.1%
Fixed assets
1,293
1,331
1,105
-2.9%
Cash and equivalents
89.7
58.3
60.0
+53.8%
Receivables
83.8
94.6
58.2
-11.4%
Inventory
3.9
3.1
3.3
+27.1%
Other assets
284
362
438
-21.6%
Total assets
1,754
1,849
1,664
-5.1%
10-K for the year ended 31 December 2019, filed 3 March 2020: the filing.