Safe Bulkers (NYSE: SB) reported Q1 EPS of ($0.07), $0.02 better than the analyst estimate of ($0.09). Revenue for the quarter came in at $33.3 million versus the consensus estimate of $31.21 million.

Summary of First Quarter 2017 Results

• Net revenue for the first quarter of 2017 increased by 35% to $33.3 million from $24.7 million during the same period in 2016.
• Net loss for the first quarter of 2017 was $3.3 million as compared to $17.8 million, during the same period in 2016. Adjusted net loss(1) for the first quarter of 2017 was $3.4 million as compared to $14.4 million, during the same period in 2016.
• EBITDA(2) for the first quarter of 2017 increased to $15.4 million compared to $0.3 million during the same period in 2016. Adjusted EBITDA(3) for the first quarter of 2017 increased to $15.2 million from $3.8 million during the same period in 2016.
• Loss per share(4) and Adjusted loss per share(4) for the first quarter of 2017 were $0.07 and $0.07 respectively, calculated on a weighted average number of shares outstanding of 99,284,181, compared to a Loss per share of $0.25 and Adjusted loss per share of $0.21 during the same period in 2016, calculated on a weighted average number of shares outstanding of 83,542,291.

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