Safe Bulkers Earnings: Here’s Why Investors Like These Results
Safe Bulkers, Inc. (NYSE:SB) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.41%.
Safe Bulkers, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 34.38% to $0.21 in the quarter versus EPS of $0.32 in the year-earlier quarter.
Revenue: Rose 0.07% to $44.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Safe Bulkers, Inc. reported adjusted EPS income of $0.21 per share. By that measure, the company missed the mean analyst estimate of $0.21. It beat the average revenue estimate of $40.14 million.
Quoting Management: Dr. Loukas Barmparis, President of the Company, said: “Our Board of Directors has declared our twentieth consecutive dividend since our IPO in the amount of $0.05 per share. We continue to be focused on reducing our counterparty risk through early redeliveries while strengthening our cash position. We closely monitor the newbuild and secondhand markets and have contracted to acquire two eco-design newbuild Panamax class vessels each at an attractive price to better position ourselves before the next recovery in the shipping cycle.”
Key Stats (on next page)…