Quarterly ResultJun 17, 2026, 04:06 PM
Safe Bulkers Q1 Net Income $22.2M, EPS $0.20; Dividend $0.06; Euronext Listing
AI Summary
Safe Bulkers reported strong unaudited financial results for Q1 2026, with net income significantly increasing to $22.2 million and EPS rising to $0.20. The Board declared an increased cash dividend of $0.06 per common share. The company also announced its common stock commenced trading on Euronext Athens, aiming to diversify its shareholder base, and continued its fleet renewal program with newbuild orders and vessel sales.
Key Highlights
- Q1 2026 Net income increased to $22.2 million from $7.2 million in Q1 2025.
- Q1 2026 Earnings per share (basic and diluted) rose to $0.20 from $0.05 in Q1 2025.
- Board declared a cash dividend of $0.06 per common share, payable July 16, 2026.
- Net revenues increased 16% to $74.4 million in Q1 2026 from $64.3 million in Q1 2025.
- Average Time Charter Equivalent (TCE) rate was $17,095 in Q1 2026, up from $14,655 in Q1 2025.
- Common stock commenced trading on Euronext Athens in June 2026, expanding market access.
- Orderbook includes 11 newbuilds, with 4 new orders placed since January 2026.
- Company repurchased 515,469 common shares under its 10 million share program as of June 12, 2026.
Price Impact
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