Safe Bulkers, Inc. Reports Second Quarter and Six Months 2020 Results
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Safe Bulkers (SB) Misses Q2 EPS by 8c, Revenues Beat
August 4, 2020 5:13 PM EDTSafe Bulkers (NYSE: SB) reported Q2 EPS of ($0.16), $0.08 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $48.3 million versus the consensus estimate of $35.45 million.
Management Commentary
Dr. Loukas Barmparis, President of the Company, said: Our results for the second quarter were negatively impacted by the reduction in charter rates that resulted from the COVID-19 outbreak. In the second quarter we entered into six five year period time charters that had premium rates in the first two years followed by floating rates at a discount to the market for three... More
