Filing Flows › International Seaways (INSW) › Q3 2026
International Seaways (INSW) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
International Seaways (INSW) reported revenue of $483M for the third quarter 2026 (Q3 2026), +146% from a year earlier and +3% from the quarter before. Operating margin was 72.7%, net earnings $344M (71.2% of revenue).
International Seaways, Q3 2026: revenue $483M (+146% year over year), operating margin 72.7%, net earnings $344M, operating cash flow $243M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $483M | +3% | +146% |
| Operating profit | $351M | +17% | +347% |
| Net earnings | $344M | +17% | +388% |
| Operating cash flow | $243M | -9% | +210% |
| Free cash flow | $234M | — | — |
What changed
Revenue was $483.2M in Q3 2026, up 146% year over year and up 3% from the previous quarter. Pool Revenue Leases was the largest line at 45% of revenue. Voyage charter revenues added $142.4M year over year (up 1257%), 50% of the total change.
Operating profit was $351.3M, a 72.7% margin (up 32.6 points year over year). Of the extra revenue versus Q3 2025, 95% reached operating profit, above the 40% margin then. Total costs grew 12% against revenue growth of 146%. The fastest-growing cost line was General & admin (+66%). Net earnings were $344.2M, up 388% year over year. The effective tax rate was 0.1%.
Operating cash flow was $243.0M (up 210% year over year), 71% of net earnings. Non-cash charges added back $41.3M of depreciation and amortization and $2.1M of share-based compensation. Working capital and other items used $144.6M. After expenditures for vessels, net ($735K) and payments on sale and leaseback ($5.5M) and repayments of debt ($2.1M) and expenditures for other property ($655K), free cash flow as the company reports it was $234.1M.
Questions
What was International Seaways' revenue in the third quarter 2026?
International Seaways (INSW) reported revenue of $483M for the third quarter 2026 (Q3 2026), +146% from a year earlier and +3% from the quarter before.
Was International Seaways profitable in the third quarter 2026?
Operating profit was $351M (72.7% of revenue) and net earnings $344M.