Quarterly ResultMay 26, 2026, 04:18 PM
Star Bulk Q1 Net Profit $58.5M; Declares $0.50 Dividend
AI Summary
Star Bulk Carriers Corp. announced strong financial and operating results for the first quarter of 2026, reporting a net profit of $58.5 million and diluted earnings per share of $0.52. The company's Board of Directors declared a quarterly cash dividend of $0.50 per share, reflecting its full payout dividend policy. Operational highlights include a significant increase in the daily Time Charter Equivalent (TCE) Rate to $18,493, alongside fleet updates such as completed vessel sales, ongoing newbuilding deliveries, and a conditional agreement to acquire 16 vessels from Diana Shipping Inc. for $470.5 million, which the company intends to fund with existing cash and new debt financing.
Key Highlights
- Star Bulk reported Q1 2026 Net Income of $58.5 million, up from $0.5 million in Q1 2025.
- Adjusted Net Income for Q1 2026 was $63.0 million, compared to a loss of $7.7 million in Q1 2025.
- Diluted Earnings Per Share for Q1 2026 was $0.52, up from $0.00 in Q1 2025.
- The Board of Directors declared a quarterly cash dividend of $0.50 per share.
- Daily Time Charter Equivalent (TCE) Rate increased to $18,493 in Q1 2026 from $12,439 in Q1 2025.
- Completed sales of Star Scarlett and Star Mariella, generating approximately $46.4 million.
- Secured credit committee approval for an $80.0 million loan facility from Taipei Fubon Commercial Bank.
- Entered a conditional agreement to acquire 16 secondhand vessels from Diana Shipping Inc. for $470.5 million.
Price Impact
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