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

Safe Bulkers (NYSE: SB) reported Q3 EPS of $0.05, $0.01 better than the analyst estimate of $0.04. Revenue for the quarter came in at $50.1 million versus the consensus estimate of $48.61 million.

Dr. Loukas Barmparis, President of the Company, said: “In the third quarter of 2019 we entered into charters at higher rates than the first half of 2019. As a result we had a profitable quarter despite the down time of several vessels due to scrubber retrofitting. We remain focused in implementing our environmental investments installing scrubbers on approximately half of our fleet and completing tank cleaning in the other half in anticipation of the effectiveness of the IMO sulphur cap regulations in 2020.”

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

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