International Seaways (INSW) FY2024 results: revenue $952 million, down 11.2% on the year
International Seaways, Inc. (INSW) reported revenue of $952 million for fiscal 2024, the year ended 31 December 2024, down 11.2% on the year before. Net income was $417 million, down 25.1%, and diluted earnings per share $8.38. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2025.
Revenue
$952 million
-11.2% on the year
FY2017FY2024
Operating margin
47.8%
57.4% a year earlier
FY2017FY2024
Net income
$417 million
-25.1% on the year
FY2017FY2024
Diluted EPS
$8.38
-25.5% on the year
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ 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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
547
688
288
-20.5%
Capital expenditure
279
205
116
+35.9%
Free cash flow
268
483
172
-44.5%
Free cash flow margin
28.2%
45.1%
19.9%
Cash from investing
-155
-124
42.8
Cash from financing
-361
-681
-186
Depreciation and amortisation
149
129
110
+15.8%
Share-based compensation
9.0
8.5
6.7
+5.7%
Buybacks
25.0
13.9
20.0
+79.2%
Dividends paid
284
308
69.8
-7.7%
Dividend per share
$5.77
$6.29
$1.42
-8.3%
Diluted shares, weighted
50m
49m
50m
+0.5%
Shares outstanding at period end
49m
49m
49m
+0.5%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
1,856
1,717
1,488
+8.1%
Debt
688
723
1,023
-4.7%
Operating lease liabilities
8.7
11.6
7.7
-25.1%
Other liabilities
83.2
70.8
96.4
+17.6%
Total liabilities and equity
2,636
2,522
2,615
+4.5%
Fixed assets
2,050
1,914
1,680
+7.1%
Investments
n/a
60.0
80.0
Cash and equivalents
158
127
244
+24.3%
Receivables
186
247
290
-24.9%
Inventory
1.9
1.3
0.5
+41.1%
Other assets
241
172
321
+40.2%
Total assets
2,636
2,522
2,615
+4.5%
10-K for the year ended 31 December 2024, filed 27 February 2025: the filing.