Safe Bulkers (SB) Misses Q4 EPS by 4c, Revenues Beat

Safe Bulkers (NYSE: SB) reported Q4 EPS of $0.01, $0.04 worse than the analyst estimate of $0.05. Revenue for the quarter came in at $53.2 million versus the consensus estimate of $47.98 million.

Dr. Loukas Barmparis, President of the Company, said: “We closed 2019 profitably, having retrofitted scrubbers on 15 out of 20 vessels in total, noting commercial and operational benefits. We have refinanced a large portion of our debt increasing our liquidity to over $170 million, positioned ahead of uncertainties and opportunities that markets may offer. During the first quarter of 2020 the charter market has shown weakness due to seasonality, intensified by the Novel Coronavirus outbreak, the full impact of which is not yet known. Our management is closely monitoring the evolving situation, having rescheduled the remaining five scrubber installations for the second quarter of 2020.”

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

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