International Seaways Bottom Line Declines In Q1, But Beats Estimates

(RTTNews) - International Seaways (INSW) revealed a profit for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $49.56 million, or $1.00 per share. This compares with $144.49 million, or $2.92 per share, last year.

Analysts on average had expected the company to earn $0.64 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 33.2% to $183.394 million from $274.401 million last year.

International Seaways earnings at a glance (GAAP) :

-Earnings: $49.56 Mln. vs. $144.49 Mln. last year. -EPS: $1.00 vs. $2.92 last year. -Revenue: $183.394 Mln vs. $274.401 Mln last year.