Overseas Shipholding Group Inc (OSG) Reports Q3 2023 Earnings: Net Income Rises by 33. ... [Yahoo! Finance]
Octave Specialty Group, Inc. (OSG)
US:NYSE Investor Relations:
osg.com/investor-relations
Company Research
Source: Yahoo! Finance
Shipping revenues for Q3 2023 were $115.4 million, a 6.2% decrease from Q3 2022. The company repurchased 4,580,921 shares for a total consideration of $18.7 million during Q3 2023. Overseas Shipholding Group Inc ( NYSE:OSG ), a leading provider of liquid bulk transportation services in the energy industry, released its earnings report for the third quarter of 2023 on November 6, 2023. The company reported a significant increase in net income and Adjusted EBITDA despite a decrease in shipping revenues. Financial Performance OSG reported a net income of $17.6 million for Q3 2023, a 33.3% increase from the $13.2 million net income reported in Q3 2022. Adjusted EBITDA, a non-GAAP measure, was $48.1 million, a 13.7% increase from Q3 2022. However, shipping revenues for Q3 2023 were $115.4 million, a 6.2% decrease from Q3 2022. Time charter equivalent (TCE) revenues, another non-GAAP measure, for Q3 2023 were $108.6 million, a 5.6% decrease from Q3 2022. Company's Commentary Sa
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