Safe Bulkers (SB) Tops Q1 EPS by 2c, Revenues Beat

Safe Bulkers (NYSE: SB) reported Q1 EPS of $0.03, $0.02 better than the analyst estimate of $0.01. Revenue for the quarter came in at $48.3 million versus the consensus estimate of $44.41 million.

Management Commentary

Dr. Loukas Barmparis, President of the Company, said: ‘‘We started 2019 profitably despite the material weakness of the charter market amid trade-war concerns, disruption of trade patterns due to natural disasters and seasonality inherent in the industry. We are on schedule in implementing our environmental investments installing scrubbers in approximately half of our fleet during 2019 in anticipation of the effectiveness of the IMO sulphur cap regulations in 2020. We also remain committed to installing ballast water treatment systems in each of our vessels. Overall, we remain confident that our Company is well positioned ahead of the uncertainties and opportunities presented by the current operating environment.”

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

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