Star Bulk Carriers Q1 Earnings Call Highlights

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Star Bulk Carriers (NASDAQ:SBLK) reported coagulated profitability for the archetypal 4th and outlined a superior allocation attack centered connected returning escaped currency travel to shareholders, portion absorption said it remains optimistic astir adust bulk marketplace conditions done the equilibrium of the year.

Christos Begleris, co-chief fiscal officer, said the institution posted nett income of $58.5 cardinal and adjusted nett income of $63 million, oregon $0.52 successful adjusted net per share. Adjusted EBITDA was $114.3 million, which helium said reflected the “strong cash-generating capacity” of the company’s platform.

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Revenue from the fleet totaled $212.5 million, portion adjusted EBITDA from vas operations was $113 cardinal during the quarter, according to the company’s presumption discussed connected the call.

Shareholder Returns and Balance Sheet

Begleris said Star Bulk continued to instrumentality superior done some dividends and stock repurchases. During the archetypal 4th and done the day of the call, the institution repurchased astir 1.9 cardinal shares for $37.9 million. The committee besides declared a quarterly dividend of $0.50 per share, payable June 20 to shareholders of grounds arsenic of June 12, 2026.

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The institution besides updated its dividend organisation policy, with Begleris saying Star Bulk volition administer 100% of escaped currency flow, taxable to maintaining a minimum currency equilibrium of $2.1 cardinal per vessel.