International Seaways reports record net income of $344 million

Item 2.02 Results of Operations and Financial

Condition.

The following information, including the Exhibit to this Form 8-K, is being furnished pursuant to Item 2.02 — Results of Operations and Financial Condition of Form 8-K. This information is not deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 and is not incorporated by reference into any Securities Act of 1933 registration statements.

On November 5, 2026, International Seaways, Inc. issued a press release, a copy of which is attached hereto as Exhibit 99.1, announcing third quarter 2026 earnings.

Section

7 – Regulation FD

Item 7.01 Regulation FD Disclosure.

The following information, including the Exhibit to this Form 8-K, is being furnished pursuant to Item 7.01 — Regulation FD Disclosure of Form 8-K. This information is not deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 and is not incorporated by reference into any Securities Act of 1933 registration statements.

On November 3, 2026, INSW's Board of Directors declared a combined dividend of $5.05 per share of common stock payable in the fourth quarter of 2026. Such dividend is payable on December 23, 2026 to shareholders of record at the close of business on December 9, 2026.

Section 9 – Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Pursuant to General Instruction B.2 of Form 8-K, the following exhibit is furnished with this Form 8-K.

Exhibit No.

Description

99.1

Press Release dated November 5, 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

INTERNATIONAL SEAWAYS, INC.

(Registrant)

Date: November 5, 2026

By

/s/

James D. Small III

Name:

James D. Small III

Title:

Chief Administrative Officer, Senior Vice President, Secretary and General Counsel

EXHIBIT

INDEX

Exhibit No.

Description

99.1

Press Release dated November 5, 2026.

INTERNATIONAL

SEAWAYS REPORTS THIRD

QUARTER 2026 RESULTS

New

York, NY - November 5, 2026- International Seaways, Inc. (NYSE: INSW) (the "Company," "Seaways," or "INSW"), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, today reported results for the third quarter 2026.

HIGHLIGHTS & RECENT DEVELOPMENTS

Strategic

Fleet Expansion:

Acquired⁶

Bruton Limited ("Bruton") and its four newbuilding VLCCs primarily for total consideration of approximately three million shares and cash.⁶

Took delivery of two LR1 newbuilds with the remaining four on order expected to deliver in the second half of 2028.⁶

Sold a 2012-built Suezmax for proceeds, net of commissions and fees, of $74 million, recognizing a gain of $53 million.⁷

Quarterly

Results:

Record net income of $344 million, or $6.90 per diluted share, including $53 million gain on sale.¹

Near-record adjusted net income (1) of $291 million, or $5.84 per diluted share, and adjusted²

EBITDA (1) of $345 million.²

Strong quarterly free cash flow (1) of $234 million.³

Returns to Shareholders:

Declared dividend of $5.05 per share, matching record set in the previous quarter.

Fourth consecutive quarter with a payout ratio of at least 85% of adjusted net income.

Declared dividends of $16.80 per share over the last twelve months represent a 22% yield.

Healthy

Balance Sheet:

Total liquidity was approximately $964 million as of September 30, 2026, including cash and short-term investments of $454 million and $510 million undrawn revolving credit capacity.⁴

Net loan-to-value (1) less than 6% as of September 30, 2026.⁵

Lois

K. Zabrocky, International Seaways President and CEO commented, "We delivered record quarterly net income, reflecting both exceptional tanker market conditions and the benefits of our long-term approach to fleet investment and capital allocation. While tanker markets were already strong earlier in the summer, rates surged to remarkable levels toward the end of the quarter. Our ability to capitalize on this extraordinary market reflects more than just favorable conditions; it is the result of years of disciplined capital allocation, fleet renewal and growth, all while strengthening our financial position and returning substantial capital to our shareholders. As we approach our tenth anniversary, we could not have predicted the extent of the disruptions that have created such a powerful earnings environment, but we have always focused on positioning Seaways to capture opportunities throughout the cycle. We continue to execute that strategy every day by optimizing our fleet across crude and product tanker markets, maintaining a healthy balance sheet and sharing the upside with our shareholders, while preserving the flexibility to pursue future growth and create long-term value."

Jeff

Pribor, the Company's CFO stated, "Our strong cash generation and financial position provide Seaways with considerable optionality in capital allocation. The completion of the Bruton transaction demonstrates our disciplined approach to deploying capital, using our shares as currency for growth while maintaining significant financial resources for future investments. Importantly, our financial position allows us pursue additional investment opportunities while sustaining substantial returns to shareholders."

THIRD

QUARTER 2026 RESULTS

Net income for the third quarter of 2026 was $344 million, or $6.90 per diluted share, compared to net income of $71 million, or $1.42 per diluted share, for the third quarter of 2025. The increase was primarily driven by higher TCE revenues (1) from spot earnings that increased an average of approximately $38,300 per day across the fleet and higher profit-sharing results on applicable time charters by approximately $75 million.

Shipping revenues for the third quarter were $483 million, compared to $196 million for the third quarter of 2025. Consolidated TCE revenues (1) for the third quarter were $443 million, compared to $192 million for the third quarter of 2025.

Adjusted

EBITDA (1) for the third quarter was $345 million, compared to $108 million for the third quarter of 2025.

Crude

Tankers

Shipping revenues for the Crude Tankers segment were $359 million for the third quarter of 2026, compared to $96 million for the third quarter of 2025. TCE revenues (1) were $321 million for the third quarter, compared to $93 million for the third quarter of 2025.

The increase in TCE revenues (1) was driven by higher average spot earnings of over $78,000 per day and higher average time charter earnings of approximately $274,000 per day, reflecting higher profit-sharing results.

Product

Carriers

Shipping revenues for the Product Carriers segment were $124 million for the third quarter, compared to $100 million for the third quarter of 2025. TCE revenues (1) were $121 million for the third quarter, compared to $99 million for the third quarter of 2025.

The increase in the third quarter of 2026 was attributable to higher TCE revenues (1) from spot earnings of approximately $12,400 per day compared to the third quarter of 2025.

FLEET

OPTIMIZATION

During