International Seaways (INSW) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and International Seaways published the results on November 5, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. International Seaways reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted net income per diluted share, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Revenue here is International Seaways' total shipping revenues. It also reported $2.2 million of other operating revenues in Q3 2026, which are not included. International Seaways' preferred measure is TCE revenues, shipping revenues less voyage expenses, $442.6 million in the quarter.
• Q3 2026 GAAP net income includes a $52.8 million net gain on disposal of vessels and other assets, mainly from selling a 2012-built Suezmax. Adjusted net income excludes it.

Source: International Seaways Q3 2026 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How International Seaways splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• International Seaways's Crude Tankers revenue was $359 million in Q3 2026, up 272% from $96.5 million in Q3 2025, 74% of total revenue.
• International Seaways's Product Carriers revenue was $124 million in Q3 2026, up 24% from $99.9 million in Q3 2025, 26% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Total shipping revenues and diluted EPS, each as first reported in that quarter's release.

We do not hold a confirmed date for International Seaways's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 5, 2026

International Seaways carries crude oil and refined petroleum products by sea, and its shipping revenues were $483.2 million in Q3 2026, against $196.4 million a year earlier. Crude Tankers brought in $358.9 million, up from $96.5 million, and Product Carriers $124.3 million, up from $99.9 million. (International Seaways Q3 2026 release, Nov 5, 2026; International Seaways Form 10-Q, Q3 2026, Nov 5, 2026)

International Seaways earns revenue three ways. Pool revenues were $215.6 million, time and bareboat charter revenues $114.0 million and voyage charter revenues $153.7 million. Most of its vessels trade in commercial pools, most of which it has an ownership interest in; its contracts with pools are short term and cancellable with up to 90 days' notice. (International Seaways Q3 2026 release, Nov 5, 2026; International Seaways Form 10-Q, Q3 2026, Nov 5, 2026)

The increase came from spot rates. International Seaways said spot earnings rose an average of approximately $38,300 per day across the fleet and profit-sharing on time charters added about $75 million. Its VLCCs earned an average spot TCE rate of $154,597 per day against $34,809 a year earlier, Suezmaxes $102,501 against $33,310, and MR product tankers $35,415 against $25,556. (International Seaways Q3 2026 release, Nov 5, 2026)

Revenue days fell to 5,840 from 6,245 as International Seaways sold older ships: eight vessels with an average age of 17 years in the first nine months of 2026, for about $290 million. At September 30, 2026 its fleet totaled 69 vessels, 62 owned and 7 chartered in, including four LR1 newbuilds due in the second half of 2028. (International Seaways Q3 2026 release, Nov 5, 2026)

International Seaways earned $6.90 per diluted share in Q3 2026, a record, against $1.42 a year earlier. Adjusted net income per diluted share was $5.84. The only adjustment in the quarter was the $52.8 million net gain on disposal of vessels and other assets, which International Seaways removes; adjusted net income was $291.4 million. (International Seaways Q3 2026 release, Nov 5, 2026)

Diluted weighted average shares were 49,905,554 against 49,606,210, and International Seaways bought back no shares under its $50 million repurchase program during the first nine months of 2026. In November 2026 the board raised the program to $100 million and extended it to the end of 2028. Income tax was $446 thousand, close to zero. (International Seaways Q3 2026 release, Nov 5, 2026; International Seaways Form 10-Q, Q3 2026, Nov 5, 2026)

International Seaways pays out most of its earnings. It declared a $5.05 per share dividend payable December 23, 2026, its fourth consecutive quarter with a payout of at least 85% of adjusted net income, and dividends declared over the last twelve months total $16.80 per share. (International Seaways Q3 2026 release, Nov 5, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

International Seaways does not publish a revenue or earnings outlook in its earnings release. The release gives contracted revenue instead: as of October 1, 2026, 11 vessels were on time charters with an average duration of 2.0 years and total future contracted revenues of approximately $305 million, excluding profit share. (International Seaways Q3 2026 release, Nov 5, 2026)

After the quarter International Seaways acquired Bruton Limited, owner of one VLCC on the water and three VLCC newbuildings due in November 2026, August 2027 and October 2027, for approximately three million shares and cash. The VLCC on the water is chartered at $95,000 per day through April 2027, and the November 2026 delivery has a 12 month time charter at $107,000 per day. (International Seaways Q3 2026 release, Nov 5, 2026)

A consensus figure is the average of the models published by the analysts who cover International Seaways, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones International Seaways's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning INSW is on is INSW a buy or a sell?, what analysts expect next is on the INSW forecast, and what the company does is on the International Seaways (INSW) stock page.

Every number on this page can be traced to a document International Seaways published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.