GET DAILY SIGNALSInternational Seaways (INSW) Delivers Record Q3 Earnings on Strong Tanker Rates
Key Takeaways
- International Seaways reported record net income of $344 million, or $6.90 per diluted share, for the third quarter of 2026.
- Adjusted net income came in at roughly $291 million, or $5.84 per diluted share, with adjusted EBITDA of $345 million.
- Total shipping revenues reached $483.2 million, up sharply from $196.4 million in the year-ago quarter.
- The board declared a record quarterly dividend of $5.05 per share, marking a fourth consecutive quarter of paying out at least 85% of adjusted net income.
- Blended spot TCE averaged $67,700 per day, versus $29,400 per day a year earlier.
Why These Results Stand Out
International Seaways, a leading tanker owner and operator, reported these figures against a backdrop of rising crude tanker rates fueled by geopolitical factors and tighter vessel supply. The company had already posted strong results in the first half of 2026, and the third quarter built on that momentum. For investors, the report highlights whether elevated spot rates can support durable free cash flow and returns, and whether the firm’s capital allocation, fleet strategy, and balance sheet can hold up in a volatile tanker environment. I also checked this using Tickeron’s AI Screener to compare the stock against peers in the sector.
Breaking Down the Q3 Numbers
INSW posted record net income of $344 million, or $6.90 per diluted share, for the third quarter of 2026, up from $70.5 million in the prior-year period. Adjusted net income was approximately $291 million, or $5.84 per diluted share, with adjusted EBITDA of $345 million. Total shipping revenues climbed to $483.2 million from $196.4 million a year earlier.
The company’s blended spot TCE averaged $67,700 per day, more than double the $29,400 per day reported a year ago. Crude tanker revenues reached a record $321 million, including roughly $77 million in profit sharing from its dual-fuel VLCCs, lifting blended VLCC earnings above $200,000 per day. Free cash flow for the quarter was about $234 million.
Results came in ahead of consensus estimates, which had modeled adjusted EPS near $2.99 and revenue around $288.8 million. Management declared a record quarterly dividend of $5.05 per share, payable December 23, 2026, while noting total liquidity of approximately $964 million and net loan-to-value below 6%.
Market Reaction and Sentiment
Sentiment around International Seaways has been positive, driven by the record earnings, the sizable dividend, and robust forward booking rates. Guidance that more than half of expected fourth-quarter revenue days are already booked at a blended spot TCE above $172,000 per day reinforced confidence in near-term cash generation. Risks include the cyclical nature of tanker rates, geopolitical shifts, and a rising industry order book that could increase supply later. The company’s low leverage and liquidity continue to support the outlook.
Forward Outlook and Factors to Watch
The key takeaway from the report is the strength of forward bookings. More than half of expected fourth-quarter revenue days are fixed at a blended spot TCE exceeding $172,000 per day, well above the company’s breakeven and supportive of margins. Investors should watch whether these rates hold as more voyages are fixed. Supply dynamics also matter, as a growing order book could pressure rates over time even as near-term demand stays firm. With gross debt of roughly $716 million, low net loan-to-value, and nearly $1 billion in liquidity, the company has room for fleet renewal while maintaining its payout policy. I reviewed forward indicators through Tickeron’s AI Trend Prediction Engine to gauge potential rate trajectories.
Using AI Tools in My Research
When analyzing names like INSW, I often rely on Tickeron’s AI Screener to quickly filter peers by fundamentals, technical patterns, and performance metrics. It helps surface comparable opportunities in energy and shipping more efficiently than manual checks, allowing me to cross-reference data points and refine my view on sector trends without spending extra time on broad scans.
Disclaimer
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Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
INSW in -5.98% downward trend, falling for three consecutive days on November 04, 2026
Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where INSW declined for three days, in 166 of 247 cases, the price declined further within the following month. The odds of a continued downward trend are 67%.
Technical Analysis (Indicators)
Bearish Trend Analysis
The 10-day RSI Indicator for INSW moved out of overbought territory on October 14, 2026. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 48 similar instances where the indicator moved out of overbought territory. In 29 of the 48 cases, the stock moved lower in the following days. This puts the odds of a move lower at 60%.
The Momentum Indicator moved below the 0 level on November 03, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on INSW as a result. In 41 of 68 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 60%.
The Moving Average Convergence Divergence Histogram (MACD) for INSW turned negative on October 15, 2026. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 48 similar instances when the indicator turned negative. In 27 of the 48 cases the stock turned lower in the days that followed. This puts the odds of success at 56%.
INSW moved below its 50-day moving average on November 02, 2026 date and that indicates a change from an upward trend to a downward trend.
Bullish Trend Analysis
The Stochastic Oscillator is in the oversold zone. Keep an eye out for a move up in the foreseeable future.
Following a +1.97% 3-day Advance, the price is estimated to grow further. Considering data from situations where INSW advanced for three days, in 269 of 341 cases, the price rose further within the following month. The odds of a continued upward trend are 79%.
INSW may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In 269 of 353 cases where INSW Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 76%.
Fundamental Analysis (Ratings)
The Tickeron Profit vs. Risk Rating rating for this company is 5 (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 44, placing this stock better than average.
The Tickeron SMR rating for this company is 27 (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is 37 (best 1 - 100 worst), indicating steady price growth. INSW’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of 53 (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.172) is normal, around the industry mean (142.313). P/E Ratio (6.305) is within average values for comparable stocks, (7.430). Projected Growth (PEG Ratio) (0.010) is also within normal values, averaging (13.660). Dividend Yield (0.203) settles around the average of (139204411392.000) among similar stocks. P/S Ratio (4.329) is also within normal values, averaging (4.657).
The Tickeron PE Growth Rating for this company is 84 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
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General Information
a company, which engages in the ocean transportation of crude oil and petroleum products
Industry OilGasPipelines
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