Filing Flows › International Seaways (INSW) › Q1 2025
International Seaways (INSW) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
International Seaways (INSW) reported revenue of $183M for the first quarter 2025 (Q1 2025), -33% from a year earlier and -6% from the quarter before. Operating margin was 32.3%, net earnings $49.6M (27.0% of revenue).
International Seaways, Q1 2025: revenue $183M (-33% year over year), operating margin 32.3%, net earnings $49.6M, operating cash flow $69.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $183M | -6% | -33% |
| Operating profit | $59.2M | +31% | -62% |
| Net earnings | $49.6M | +38% | -66% |
| Operating cash flow | $69.9M | -25% | -55% |
| Free cash flow | $69.6M | -25% | -55% |
What changed
Revenue was $183.4M in Q1 2025, down 33% year over year and down 6% from the previous quarter. Pool Revenue Leases was the largest line at 75% of revenue. Pool Revenue Leases lost $88.7M year over year (down 39%), 97% of the total change.
Operating profit was $59.2M, a 32.3% margin (down 24.0 points year over year). Total costs grew 4% against a revenue fall of 33%. Net earnings were $49.6M, down 66% year over year. The effective tax rate was 0.0%.
Operating cash flow was $69.9M (down 55% year over year), 141% of net earnings. Non-cash charges added back $39.7M of depreciation and amortization and $1.9M of share-based compensation. Working capital and other items used $21.3M. Capital expenditures of $376K left free cash flow of $69.6M.
Questions
What was International Seaways' revenue in the first quarter 2025?
International Seaways (INSW) reported revenue of $183M for the first quarter 2025 (Q1 2025), -33% from a year earlier and -6% from the quarter before.
Was International Seaways profitable in the first quarter 2025?
Operating profit was $59.2M (32.3% of revenue) and net earnings $49.6M.