💹Revenues : $183.39M ( Est. $176.50M) 🟢
💵 Earning Per Share : $0.80 (Est. $0.64) 🟢
💰Dividend : $0.60 / shr on June 26th for shareholder as of June 12th
💭CEO comments : " We delivered encouraging results for the first quarter of 2025, which were marked by a gradual strengthening of market conditions each month. Seaways took advantage of our balanced sheet of crude and product tankers to execute our disciplined capital allocation strategy.
After two consecutive years of returning over $300 million to shareholders, we declared a combined dividend of $0.60 per share for the first quarter, delivering on our intention to return 75% of adjusted net income to shareholders.
With our enhanced scale through pool employment and our healthy balance sheet, we believe we are well positioned to build on our track record of delivering compelling returns and incremental value for shareholders.
While OECD inventories drew down by 50 million barrels during the quarter, pressuring
near-term market fundamentals, the rate environment improved progressively during the first quarter.
Looking ahead, the global economic outlook remains clouded by geopolitical uncertainty, but we believe oil demand will continue to grow. With inventories at depleted levels, replenishment will be necessary. We expect these dynamics, coupled with persistent regional imbalances, to support demand growth for seaborne transportation.
We remain constructive on tanker supply, with modest fleet growth from scheduled deliveries and elevated recycling volumes - already ahead of recent years - that should help absorb new capacity. "
💭CFO Comments : " Seaways continues to deliver on its commitment to balanced capital
allocation. For the third consecutive quarter, we are returning 75% or more of our adjusted net income to shareholders through dividends.
At the same time, we are reducing debt to preserve substantial revolving credit capacity to support fleet growth.
We remain active in renewing our fleet with our strategic vessel swap, sales of older tonnage and progress payments on our newbuilding program, even as broader market transaction activity has slowed. Based on our strong financial position, highlighted by total liquidity of $673 million, we remain opportunistic with fleet renewal across our varied asset classes. "
