Safe Bulkers (SB) Misses Q3 EPS by 1c, Revenues Beat

Safe Bulkers (NYSE: SB) reported Q3 EPS of $0.05, $0.01 worse than the analyst estimate of $0.06. Revenue for the quarter came in at $50.1 million versus the consensus estimate of $47.72 million.

• Net revenues for the third quarter of 2018 increased by 34% to $50.1 million from $37.3 million during the same period in 2017.
• Net income for the third quarter of 2018 increased by 21% to $8.1 million from $6.7 million, during the same period in 2017. Adjusted net income1 for the third quarter of 2018 was $8.2 million as compared to adjusted net loss of $1.8 million, during the same period in 2017.
• EBITDA2 for the third quarter of 2018 was $27.5 million as compared to $27.4 million during the same period in 2017. Adjusted EBITDA3 for the third quarter of 2018 increased by 47% to $27.7 million from $18.9 million during the same period in 2017.
• Earnings per share and Adjusted earnings per share4 for the third quarter of 2018 were $0.05 and $0.05 respectively, calculated on a weighted average number of 101,559,492 shares, compared to Earnings per share of $0.04 and Adjusted loss per share of $0.05 during the same period in 2017, calculated on a weighted average number of 101,521,234 shares.

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

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