International Seaways Inc. (INSW) shares reached an all-time high of $106.94 Monday, with the stock trading at $106.36 — just 1% below its 52-week peak.
The tanker owner’s rally has accelerated dramatically. The stock is up 150% year-to-date and has climbed 118.59% over the past twelve months, driven by surging freight rates and a strong second-quarter earnings report that blew past analyst expectations.
Adjusted earnings per share came in at $5.91, toppling Wall Street’s consensus estimate of $5.52. Revenue of $467.29 million exceeded projections of $401.77 million, while adjusted net income was $295 million. Adjusted EBITDA set a new quarterly record at $345 million, and free cash flow also reached a record $261 million.
Freight-rate recovery was a key driver. Blended spot time-charter equivalent rates averaged $79,000 per day in the second quarter, compared to $27,500 a year earlier — a nearly threefold increase that materially lifted operating margins across the fleet.
On the balance sheet, liquidity stands at $935 million against net debt of approximately $250 million, giving the company ample headroom to fund operations or pursue capital returns.
Valuation metrics remain modest relative to earnings power. The stock trades at a price-to-earnings ratio of 6.74, and four analysts have recently raised their earnings estimates. InvestingPro flagged the shares as undervalued based on its fair-value analysis, citing additional upside potential.
The company’s dividend yield has swelled to 26%, reflecting both the elevated share price and the strong cash generation underway.
