Quarterly ResultJul 29, 2026, 09:32 AM
Safe Bulkers Q2 Net Income $35.2M; EPS $0.33; Dividend Raised to $0.075
AI Summary
Safe Bulkers reported strong financial results for Q2 2026, with net income soaring to $35.2 million and EPS reaching $0.33, driven by a 33% increase in net revenues to $87.5 million and higher TCE rates. The company's Board declared an increased cash dividend of $0.075 per common share. Strategic developments include the listing of common stock on Euronext Athens and continued fleet renewal with newbuild deliveries and share repurchases.
Key Highlights
- Q2 2026 Net Income increased to $35.2 million from $1.7 million in Q2 2025.
- Q2 2026 Earnings per Share (EPS) rose to $0.33 from $0.00 in Q2 2025.
- Q2 2026 Net Revenues increased 33% to $87.5 million from $65.7 million in Q2 2025.
- Board declared a cash dividend of $0.075 per common share, an increase from $0.06.
- Time charter equivalent (TCE) rate for Q2 2026 was $20,642, up from $14,857 in Q2 2025.
- Company purchased and cancelled 515,469 common shares under its buyback program.
- Common stock commenced trading on Euronext Athens in June 2026 to broaden shareholder base.
- Orderbook includes 10 newbuilds, with 2 Kamsarmax vessels delivered in Q2 2026.
Price Impact
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