Safe Bulkers (SB) Tops Q1 EPS by 1c, Revenues Beat

Safe Bulkers (NYSE: SB) reported Q1 EPS of $0.03, $0.01 better than the analyst estimate of $0.02. Revenue for the quarter came in at $43.5 million versus the consensus estimate of $41.11 million.

Summary of First Quarter 2018 Results

• Net revenues for the first quarter of 2018 increased by 31% to $43.5 million from $33.3 million during the same period in 2017.
• Net income for the first quarter of 2018 was $6.0 million as compared to a net loss of $3.3 million, during the same period in 2017. Adjusted net income1 for the first quarter of 2018 was $5.7 million as compared to an Adjusted net loss of $3.4 million, during the same period in 2017.
• EBITDA2 for the first quarter of 2018 increased by 53% to $23.5 million compared to $15.4 million during the same period in 2017. Adjusted EBITDA3 for the first quarter of 2018 increased by 53% to $23.2 million from $15.2 million during the same period in 2017.
• Earnings per share4 and Adjusted earnings per share4 for the first quarter of 2018 were $0.03, calculated on a weighted average number of 101,540,728 shares, compared to a Loss per share and Adjusted loss per share of $0.07 during the same period in 2017, calculated on a weighted average number of 99,284,181 shares.

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

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