International Seaways INSW is scheduled to release fourth-quarter 2024 earnings on Feb. 27, before market open.

Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

The Zacks Consensus Estimate for INSW’s soon-to-be-reported quarter’s earnings has been revised downward by 34% in the past 60 days to 70 cents per share. The consensus mark has declined 67.9% from fourth-quarter 2023 actuals. Meanwhile, the Zacks Consensus Estimate for revenues is pegged at $177.7 million, which indicates a decline of 29.1% from the year-ago actuals.

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INSW has an impressive earnings surprise record. Its bottom line surpassed the Zacks Consensus Estimate in three of the last four quarters, missing the mark once. The average beat is 8.2%.

Against this backdrop, let us check out the factors that are expected to have influenced INSW’s December-quarter performance.

We expect INSW’s results to reflect the bearishness surrounding the tanker market, as tanker rates have not been at healthy levels. The slowdown in global economic growth has hurt shipping rates. An oversupply of vessels and subdued demand has hit tanker rates.

Shipping revenues are likely to have declined in the December quarter due to weakness in both Crude Tankers and Product Carriers segments. However, the diverse fleet maintained by International Seaways, which focuses on diversification across market segments, might boost results. Efforts to control costs are also expected to have aided INSW’s bottom-line performance in the to-be-reported quarter.

Earnings Whisper for INSW

Our proven model predicts an earnings beat for International Seaways this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is the case here.

Earnings ESP of INSW: International Seaways has an Earnings ESP of +48.58%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

INSW’s Zacks Rank: International Seaways currently carries a Zacks Rank #3.

INSW’s Decent Stock Price Performance

Driven by its cost control efforts, shares of INSW have outperformed the Zacks Transportation—Shipping industry as well as fellow industry players, Star Bulk Carriers SBLK and Seanergy Maritime Holdings SHIP, in the past 30 days.

One-Month Price Comparison

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Star Bulk Carriers Corp. (SBLK) : Free Stock Analysis Report

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This article originally published on Zacks Investment Research (zacks.com).

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