Shares of International Seaways Inc (INSW) plunged 5.07% in intraday trading on Thursday, after the company reported mixed fourth-quarter 2024 earnings results.
The shipping company reported Q4 adjusted earnings of $0.90 per diluted share, falling sharply from $2.18 per share a year earlier and missing analyst estimates of $1.24 per share. However, revenue for the quarter came in at $194.6 million, beating expectations of $171.9 million.
The disappointing earnings figures were seen as the primary catalyst for the stock's decline, as investors reacted negatively to the company's lower-than-expected profitability. Despite the revenue beat, the significant miss on EPS overshadowed the positive top-line results.
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