Safe Bulkers (SB) Reports Q4 EPS of $0.02, Beats on Revenues

Note: EPS may not be comparable

Safe Bulkers (NYSE: SB) reported Q4 EPS of $0.02, versus ($0.01) reported last year. Revenue for the quarter came in at $42.4 million versus the consensus estimate of $38.14 million.

Summary of Fourth Quarter 2017 Results

• Net revenues for the fourth quarter of 2017 increased by 34% to $42.4 million from $31.7 million during the same period in 2016.
• Net loss for the fourth quarter of 2017 was $86.6 million as compared to $4.6 million, during the same period in 2016. Adjusted net income1 for the fourth quarter of 2017 was $5.5 million as compared to Adjusted net loss of $4.1 million, during the same period in 2016.
• EBITDA2 for the fourth quarter of 2017 amounted to loss of $68.1 million as compared to earnings of $13.1 million during the same period in 2016. Adjusted EBITDA3 for the fourth quarter of 2017 increased by 76% to $23.9 million from $13.6 million during the same period in 2016.
• Loss per share4 and Adjusted earnings per share4 for the fourth quarter of 2017 were $0.88 and $0.02 respectively, calculated on a weighted average number of 101,531,352 shares, as compared to a Loss per share of $0.09 and Adjusted loss per share of $0.09 during the same period in 2016, calculated on a weighted average number of 87,364,672 shares.

For earnings history and earnings-related data on Safe Bulkers (SB) click here.

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