Business Context and Reporting Period
Company: International Seaways, Inc.
Filing Type: Form 8-K (Current Report)
Date: June 20, 2023
Event: Regulation FD Disclosure regarding a share repurchase.
Key Financial Metrics
This filing reports on a specific capital allocation event rather than periodic financial performance. Key figures include:
- Shares Repurchased: 61,883 shares
- Average Price: $37.16 per share
- Total Cost: Approximately $2.3 million
- Remaining Program Authorization: Approximately $26.1 million
- Total Program Authorization: $60.0 million
Note: The filing text does not provide values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
The Company executed open-market purchases of its common stock last week. The repurchased shares will be retired. This transaction reduced the remaining availability under the previously authorized share repurchase program.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or discussion of risks and contingencies. The disclosure is strictly limited to the recent share repurchase activity.
Investor Verification Checklist
- Verify the total number of shares outstanding post-retirement.
- Confirm the remaining balance of the $60.0 million share repurchase program ($26.1 million).
- Review the Company's most recent 10-Q or 10-K for comprehensive liquidity and debt metrics not included in this 8-K.