Safe Bulkers Earnings: Everything You Must Know Now

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.

Safe Bulkers, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 38.71% to $0.19 in the quarter versus EPS of $0.31 in the year-earlier quarter.

Revenue: Decreased 11.95% to $41.4 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Safe Bulkers, Inc. reported adjusted EPS income of $0.19 per share. By that measure, the company met the mean analyst estimate of $0.19. It beat the average revenue estimate of $40.41 million.

Quoting Management: Dr. Loukas Barmparis, President of the Company, said: “Our Board of Directors has declared our twenty-first consecutive quarterly dividend since our IPO maintaining our policy to distribute a portion of our free cash flows to reward our common shareholders. We have strengthened our equity base by issuing an additional class of shares. The net proceeds of about $39 million strengthen our balance sheet and provide flexibility for further expansion during the low part of the shipping cycle as already demonstrated by our recent post-Panamax acquisition. These moves are designed to better position our Company to take advantage of the next shipping upturn and to create value for our common shareholders.”

Key Stats (on next page)…

Revenue decreased 6.4% from $44.23 million in the previous quarter. EPS decreased 9.52% from $0.21 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.13 to a profit $0.14. For the current year, the average estimate has moved down from a profit of $0.69 to a profit of $0.68 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)