[8-K] International Seaways, Inc. Reports Material Event

International Seaways (INSW) reported Q1 2026 net income of $286 million (record) and adjusted net income of $194 million, or $3.90 per diluted share. Adjusted EBITDA was $244 million. The company declared a quarterly combined dividend of $4.55/share under a new 85% payout ratio. Liquidity totaled $918 million; net debt was about $225 million (net loan-to-value <7%).

The article says the IRGC assessed a U.S.-Iran war risk as “low,” which it says contributed to a drop in crude oil prices. Louis Navellier says energy and tanker stocks remain attractive, citing strong forecast sales/earnings and longer routes and Strait of Hormuz bottlenecks. It also notes Elbit Systems Q1 revenue rose 15.5% to $2.189B, beating expectations, and Micron’s UBS price target was raised to $1,625.

Eaton (NYSE:ETN) said the U.S. Air Force Research Laboratory awarded it a $7 million, 24-month contract to use quantum computing, machine learning, and advanced visualization to improve power grid resilience and protection. The work, with Infleqtion and Penn State, targets detection and response to multiple concurrent physical and cyber threats, addressing NERC N-2 contingency requirements.

ExxonMobil Moçambique Limitada issued McDermott Energy Solutions (UK) a letter of intent for limited engineering and procurement work on Rovuma LNG Phase 1 midstream development. The award supports planning ahead of a final investment decision expected in 2026. Rovuma LNG targets 12 modular trains totaling 18.6 mtpa, with start-up in 2031. ExxonMobil says the 30-year project could generate about $150B in revenues for Mozambique’s government.

Serbia President Aleksandar Vucic said Serbia will open a joint UAV factory with Elbit Systems, with inauguration expected Sept 15-20. Elbit will hold 51% and Serbia’s state arms firm SDPR 49%. The factory relates to a five-year contract covering precision rockets and unmanned systems, plus ISTAR, digitization and upgrades.

The U.S. Department of Defense, according to The Washington Post, asked defense contractors to submit within 21 days production and delivery schedules for critical systems, citing depleted stockpiles. CSIS estimates cite heavy early use of missiles and falling Patriot and THAAD inventories. The Pentagon is working with Northrop Grumman and Lockheed Martin, including a $58.6B deal to triple PAC-3 output by 2030, pending a stalled $1.15T defense budget.