Scorpio Bulkers (SALT) Tops Q4 EPS by 7c; Revs Light

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Go back to Scorpio Bulkers (SALT) Tops Q4 EPS by 7c; Revs Light

Scorpio Bulkers Inc. Announces Financial Results for the Fourth Quarter of 2015

February 29, 2016 6:12 AM EST

MONACO -- (Marketwired) -- 02/29/16 -- Scorpio Bulkers Inc. (NYSE: SALT) ("Scorpio Bulkers," or the "Company") today reported its results for the three months and year ended December 31, 2015.

Results for the three months and years ended December 31, 2015 and 2014

For the three months ended December 31, 2015, the Company's adjusted net loss was $22.0 million, or $0.80 adjusted loss per diluted share, which excludes a loss on the sale of assets and a write down of assets held for sale totaling $271.3 million and the related write off of deferred financing costs on credit... More

Scorpio Bulkers Inc. Announces an Amendment of Its Minimum Liquidity Covenant, a Payment Holiday on Future Principal Repayments, Delay of Scheduled Vessel Deliveries and the Termination of Time Charte

February 26, 2016 6:06 PM EST

MONACO -- (Marketwired) -- 02/26/16 -- Scorpio Bulkers, Inc. (NYSE: SALT) (the "Company") announced today that it has agreed in principle with its lenders to (i) amend the minimum liquidity covenant under all its credit facilities and (ii) reduce future principal repayments under its credit facilities. In addition, the Company also agreed in principle to delay scheduled vessel deliveries and terminated the time charter contracts for four vessels.

Amendment of Minimum Liquidity Covenant

The Company has agreed in principle with all its lenders to permanently reduce the level of... More