Core Viewpoint - Safe Bulkers reported quarterly earnings of $0.16 per share, matching the Zacks Consensus Estimate, and showing an increase from $0.08 per share a year ago [1] - The company posted revenues of $70.5 million for the quarter, missing the Zacks Consensus Estimate by 9.06%, but up from $58.7 million year-over-year [2] Group 1: Earnings Performance - Safe Bulkers' earnings of $0.16 per share were in line with expectations, but the company had previously projected earnings of $0.18 per share, resulting in a surprise of -5.56% when actual earnings were $0.17 [1] - Over the last four quarters, the company has only surpassed consensus EPS estimates once [1] Group 2: Revenue Analysis - The reported revenue of $70.5 million for the quarter was below the consensus estimate, indicating a potential concern for future performance [2] - The company has exceeded consensus revenue estimates two times in the last four quarters [2] Group 3: Stock Performance and Outlook - Safe Bulkers shares have increased by approximately 10.7% since the beginning of the year, while the S&P 500 has gained 25.5% [3] - The company's future stock performance will largely depend on management's commentary during the earnings call and the outlook for earnings revisions [3][4] Group 4: Earnings Estimates and Industry Context - The current consensus EPS estimate for the upcoming quarter is $0.16 on revenues of $82.31 million, and for the current fiscal year, it is $0.69 on revenues of $314.48 million [7] - The Transportation - Shipping industry, to which Safe Bulkers belongs, is currently ranked in the bottom 17% of Zacks industries, which may negatively impact stock performance [8]

Wall Street expects a year-over-year increase in earnings on higher revenues when Safe Bulkers (SB) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the sto ...

Core Points - Safe Bulkers, Inc. announced the election of three Class I directors at its annual meeting of stockholders held in Monaco [1][2] - The elected directors will serve a term ending at the annual meeting of stockholders in 2027 [2] - Stockholders ratified the appointment of Deloitte as the Company's independent auditors for the fiscal year ending December 31, 2024 [2] Company Overview - Safe Bulkers, Inc. is an international provider of marine drybulk transportation services, specializing in transporting bulk cargoes such as coal, grain, and iron ore [3] - The Company's common stock and preferred stock are listed on the NYSE under the symbols "SB", "SB.PR.C", and "SB.PR.D" [3]

galitskaya/iStock via Getty Images Safe Bulkers Inc. (NYSE:SB) has seen a 100% bull run in their share price between November 2023 and June 2024. Currently, they are in a 20% pullback, after reporting mixed earnings results in Q2 2024. In this article, I will cover some of their highlights during Q2 2024, including some of the headwinds that the company is currently facing, and I will look at different factors, including share buybacks, financial metrics, and price action, to explain the rationale behind my ...

Omar Nokta - Jefferies Climent Molins - Value Investor's Edge Many of the remarks today contain forward-looking statements based on current expectations. Actual results may differ materially from the results projected from those forward-looking statements. Additional information concerning factors that can cause the actual results to differ materially from those in the forward-looking statements is contained in the second-quarter 2024 earnings release, which is available on the Safe Bulkers' website, again, ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks. Finally, our model also underscores that SB has a P/CF ratio of 4.30. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. This ...

Core Viewpoint - The company is focused on fleet renewal and environmental upgrades to comply with international regulations, while maintaining strong liquidity and capital allocation strategies to reward shareholders with dividends [3][63]. Fleet Update - As of July 19, 2024, the company has a fleet of 46 vessels, including 9 Panamax, 12 Kamsarmax, 17 Post-Panamax, and 8 Capesize class vessels, with an aggregate carrying capacity of 4.6 million dwt and an average age of 9.8 years [66]. - The company has an orderbook of eight newbuilds, all compliant with IMO GHG Phase 3 - NOx Tier III standards, with deliveries scheduled from 2024 to 2027 [67]. Financial Performance - Net revenues increased by 11% to $78.5 million for the second quarter of 2024, compared to $70.6 million for the same period in 2023, driven by higher charter hire revenues and an increased average number of vessels [47]. - The company reported a net income of $27.6 million for the second quarter of 2024, compared to $15.4 million for the same period in 2023 [29][61]. Capital Expenditure and Debt - The total capital expenditure for the newbuild program is approximately $662 million, with $235.6 million remaining to be paid [3]. - As of June 30, 2024, the company had consolidated debt of $500 million, with a leverage ratio of approximately 32% [40]. Environmental Initiatives - The company is implementing an environmental upgrade program targeting increased energy efficiency and lower fuel consumption, with 22 existing vessels upgraded as of July 19, 2024 [65]. - A new Integrated Management System (IMS) compliant with DryBMS standards has been implemented to enhance safety, health, security, and pollution prevention [64]. Chartering Strategy - The company employs a mix of period and spot charters, with 38 vessels in period time charters and 9 in the spot market as of July 19, 2024 [69]. - The average remaining charter duration across the fleet is 0.7 years, with contracted revenue of approximately $252.1 million from non-cancellable charters [69].

Orderbook Vessel Sales Newbuild delivery During the second quarter of 2024, we operated 45.43 vessels, on average earning a TCE of $18,650, compared to 44.01 vessels earning a TCE of $17,271 during the same period in 2023. As of July 19, 2024, we employed, or had contracted to employ, (i) 9 vessels in the spot time charter market (with up to three months` original duration) and (ii) 38 vessels in the period time charter market (with original duration in excess of three months). Of the vessels chartered in t ...

Core Viewpoint - Safe Bulkers, Inc. will release its second quarter financial results for the period ending June 30, 2024, after market closes on July 29, 2024 [2]. Company Overview - Safe Bulkers, Inc. is an international provider of marine drybulk transportation services, specializing in transporting bulk cargoes such as coal, grain, and iron ore along global shipping routes [4]. - The company's common stock and preferred stocks are listed on the NYSE under the symbols "SB", "SB.PR.C", and "SB.PR.D" respectively [4]. Conference Call Details - A conference call to discuss the financial results will be hosted by the company's management team on July 30, 2024, at 10:00 A.M. Eastern Time [5]. - Participants can join the call using a "call me" option for a faster connection [6]. Additional Information - There will be a live and archived webcast of the conference call and accompanying slides available on the company's website [10]. - Participants are advised to dial in 10 minutes before the scheduled time using specific toll-free numbers provided [9].

MONACO, July 02, 2024 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the "Company") (NYSE: SB), an international provider of marine drybulk transportation services, announced today that the Company's Board of Directors has declared: Each dividend will be paid on July 30, 2024, to all shareholders of record as of July 19, 2024 of the Series C Preferred Shares and of the Series D Preferred Shares, respectively. Dividends on the Series C and D Preferred Shares are payable quarterly in arrears on the 30th day (unless ...