Safe Bulkers (SB) Reports In-Line Q3 Loss; No Dividend Declared

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Go back to Safe Bulkers (SB) Reports In-Line Q3 Loss; No Dividend Declared

Safe Bulkers, Inc. Reports Third Quarter and Nine Months 2016 Results

October 31, 2016 7:30 AM EDT

MONACO -- (Marketwired) -- 10/31/16 -- Safe Bulkers, Inc. (the "Company") (NYSE: SB), an international provider of marine drybulk transportation services, announced today its unaudited financial results for the three and nine months period ended September 30, 2016.

Summary of Third Quarter 2016 Results

Net revenue for the third quarter of 2016 decreased by 19% to $27.1 million from $33.5 million during the same period in 2015. Net loss for the third quarter of 2016 was $24.5 million as compared to $7.5 million, during the same period in 2015. Adjusted net loss(1) for the third quarter of 2016 was $9.0 million as... More