Core Viewpoint - Star Bulk Carriers (SBLK) has gained attention as one of the most searched stocks, prompting analysis of factors influencing its future performance [1] Earnings Estimates - For the current quarter, Star Bulk Carriers is expected to report earnings of $0.45 per share, reflecting a year-over-year decrease of 38.4% [5] - The Zacks Consensus Estimate for the current fiscal year is $2.78, indicating a year-over-year increase of 51.1%, with a 30-day change of +11% [5] - The consensus earnings estimate for the next fiscal year is $2.52, showing a decrease of 9.2% compared to the previous year, with no change over the past month [6] Revenue Growth - The consensus sales estimate for the current quarter is $291.96 million, representing a year-over-year increase of 10.8% [9] - Estimated revenues for the current fiscal year are $1.25 billion, indicating a growth of 31.5%, while the next fiscal year's estimate is $1.14 billion, reflecting a decrease of 8.7% [9] Recent Performance - In the last reported quarter, Star Bulk Carriers achieved revenues of $344.28 million, a year-over-year increase of 54.3%, with an EPS of $0.71 compared to $0.34 a year ago [10] - The company reported a revenue surprise of +0.57% compared to the Zacks Consensus Estimate and had an EPS surprise of 0% [11] Valuation - Star Bulk Carriers is graded A in the Zacks Value Style Score, indicating it is trading at a discount compared to its peers [15] - Valuation metrics such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF) are essential for assessing whether the stock is fairly valued [13][14] Market Position - The Zacks Rank for Star Bulk Carriers is 5 (Strong Sell), suggesting potential underperformance relative to the broader market in the near term [7][16]

Group 1 - Star Bulk Carriers (SBLK) closed at $14.68, showing no change from the previous day, while the S&P 500 gained 0.88% [1] - Over the past month, SBLK shares have decreased by 3.74%, underperforming the Transportation sector's gain of 2.17% and the S&P 500's gain of 1.17% [1] Group 2 - The upcoming earnings release is anticipated, with projected earnings per share (EPS) of $0.39, indicating a 46.58% decline from the same quarter last year [2] - Revenue is estimated to be $299.25 million, reflecting a 13.58% increase from the prior-year quarter [2] Group 3 - Recent adjustments to analyst estimates for Star Bulk Carriers are noteworthy, as they often indicate changing near-term business trends [3] - Positive estimate revisions suggest analyst optimism regarding the company's business and profitability [3] Group 4 - The Zacks Rank system, which assesses estimate revisions, indicates that these changes correlate with near-term share price momentum [4] - The Zacks Rank ranges from 1 (Strong Buy) to 5 (Strong Sell), with 1 stocks historically returning an average of +25% annually since 1988 [5] Group 5 - Star Bulk Carriers currently holds a Zacks Rank of 5 (Strong Sell), with the Zacks Consensus EPS estimate remaining steady over the past month [5] Group 6 - From a valuation perspective, SBLK has a Forward P/E ratio of 6.47, which is below the industry average of 7.82 [6] Group 7 - The company has a PEG ratio of 4.4, compared to the average PEG ratio of 0.56 for the Transportation - Shipping industry [7] - The Transportation - Shipping industry is ranked 241 in the Zacks Industry Rank, placing it in the bottom 4% of over 250 industries [7] Group 8 - The Zacks Industry Rank evaluates the strength of industry groups based on the average Zacks Rank of individual stocks, with the top 50% rated industries outperforming the bottom half by a factor of 2 to 1 [8]

Core Viewpoint - Star Bulk Carriers (SBLK) has been a highly searched stock, with its performance being influenced by both market trends and fundamental factors [1] Earnings Estimate Revisions - The current quarter's earnings estimate for Star Bulk Carriers is $0.39 per share, reflecting a decrease of 46.6% year-over-year, with the consensus estimate remaining unchanged over the last 30 days [4] - For the current fiscal year, the consensus earnings estimate is $2.73, indicating an increase of 48.4% from the previous year, also unchanged over the last month [4] - The next fiscal year's consensus earnings estimate is $2.27, showing a decline of 16.9% compared to the prior year, with no changes in the estimate over the past month [5] Revenue Growth - The consensus sales estimate for the current quarter is $299.25 million, representing a year-over-year increase of 13.6% [8] - For the current fiscal year, the sales estimate is $1.26 billion, indicating a growth of 32.3%, while the next fiscal year's estimate is $1.24 billion, reflecting a slight decline of 1.2% [8] Last Reported Results - In the last reported quarter, Star Bulk Carriers achieved revenues of $344.28 million, a year-over-year increase of 54.3%, with an EPS of $0.71 compared to $0.34 a year ago [9] - The reported revenues exceeded the Zacks Consensus Estimate of $342.34 million by 0.57%, while the EPS met the consensus estimate [10] Valuation - Star Bulk Carriers has a Zacks Value Style Score of B, indicating it is trading at a discount compared to its peers [14]

Core Viewpoint - The average brokerage recommendation (ABR) for Star Bulk Carriers is 1.80, indicating a recommendation between Strong Buy and Buy, but reliance solely on this metric may not be advisable due to the limited success of brokerage recommendations in guiding investors towards stocks with high price appreciation potential [1][3][10]. Group 1: Brokerage Recommendations - The ABR for Star Bulk Carriers is based on recommendations from five brokerage firms, with three of them (60%) rating it as Strong Buy [12]. - Analysts employed by brokerage firms tend to be overly optimistic, often issuing more favorable ratings than warranted by their research, which can mislead investors [6][13]. - The ABR is calculated based on brokerage recommendations and is displayed with decimals, while the Zacks Rank is a quantitative model based on earnings estimate revisions and is displayed in whole numbers [5][15]. Group 2: Zacks Rank vs. ABR - The Zacks Rank has shown a strong correlation between earnings estimate revisions and near-term stock price movements, making it a more reliable tool for predicting stock performance compared to the ABR [7][14]. - The Zacks Consensus Estimate for Star Bulk Carriers has declined by 12.3% over the past month, leading to a Zacks Rank of 5 (Strong Sell), indicating a bearish outlook for the stock [9][10]. - The ABR may not be up-to-date, while the Zacks Rank reflects timely revisions in earnings estimates, providing a more current perspective on stock price predictions [8].

In the latest market close, Star Bulk Carriers (SBLK) reached $14.94, with a -0.4% movement compared to the previous day. The stock's change was less than the S&P 500's daily loss of 0.39%. Elsewhere, the Dow saw a downswing of 0.61%, while the tech-heavy Nasdaq depreciated by 0.32%.Shares of the shipping company have depreciated by 26.61% over the course of the past month, underperforming the Transportation sector's loss of 2.85% and the S&P 500's gain of 3.6%.The investment community will be closely monit ...

ATHENS, Greece, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (Nasdaq: SBLK), a global shipping company focusing on the transportation of dry bulk cargoes, today announced that the Company’s Board further amended its dividend policy which was in place since 2021. Unless otherwise indicated or unless the context requires otherwise, all references in this press release to "we," "us," "our," or similar references, mean Star Bulk Carriers Corp. and, where applicable, ...

Plenty of vertical industries will see increases in volatility when and if oil prices begin to move away from the cyclical lows they currently trade at. While some investors might see volatility as potentially dangerous, those who have been in the stock market long enough understand that volatility allows money to be made as long as the original idea behind a trade is sound enough. Today, there are plenty of tailwinds behind oil and the rest of the energy sector. These tailwinds could send oil prices back t ...

[Management's Discussion and Analysis of Financial Condition and Results of Operations](index=1&type=section&id=MANAGEMENT%27S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) [Overview](index=1&type=section&id=Overview) Star Bulk, a global dry bulk shipping company, completed an all-stock merger with Eagle Bulk Shipping Inc. on April 9, 2024 - The company operates as a global shipping provider in the dry bulk sector, transporting commodities like iron ore, coal, grain, bauxite, and fertilizers[2](index=2&type=chunk) - On April 9, 2024, Star Bulk completed its all-stock merger with Eagle Bulk Shipping Inc. ("Eagle"), issuing **2.6211 shares** of Star Bulk for each Eagle share[2](index=2&type=chunk)[3](index=3&type=chunk) [Our Fleet](index=1&type=section&id=Our%20Fleet) As of November 18, 2024, Star Bulk's fleet comprises 156 vessels with 15.0 million dwt, expanded by the Eagle Merger and including five newbuilds [Fleet Details and Changes](index=1&type=section&id=Fleet%20Details%20and%20Changes) The fleet expanded by 52 vessels from the Eagle Merger, reaching 156 operating vessels with 15.0 million dwt, and 97% scrubber-fitted - Acquired a fleet of **52 dry bulk Supramax/Ultramax vessels** through the Eagle Merger[5](index=5&type=chunk) - Sold and delivered **12 vessels** during the nine-month period ended September 30, 2024[4](index=4&type=chunk) Owned Fleet Summary (as of Nov 18, 2024) | Metric | Value | | :--- | :--- | | **Operating Vessels** | 156 | | **Aggregate Capacity** | ~15.0 million dwt | | **Scrubber-Fitted** | 97% | [Chartered-in Vessels](index=6&type=section&id=Time%20charter-in%20vessels%20and%20time%20charter-in%20newbuilding%20vessels) Star Bulk has seven vessels under long-term charter-in agreements, with periods extending from 2028 to 2031 - Star Bulk has **seven vessels** under long-term charter-in agreements, with a total capacity of **640,000 dwt**[14](index=14&type=chunk)[15](index=15&type=chunk) [Vessels Under Construction](index=7&type=section&id=Vessels%20Under%20Construction) Five 82,000 dwt Kamsarmax newbuilding vessels are under construction, with deliveries expected from November 2025 to August 2026 - The company has **five 82,000 dwt Kamsarmax newbuilding vessels** under construction, with expected deliveries from November 2025 to August 2026[16](index=16&type=chunk)[17](index=17&type=chunk) [Liquidity and Capital Resources](index=7&type=section&id=Liquidity%20and%20Capital%20Resources) As of November 18, 2024, Star Bulk had **$432.5 million in cash** and **$1,295.9 million in borrowings**, with sufficient liquidity for operations and newbuild financing Financial Position (as of Nov 18, 2024) | Metric | Amount (USD) | | :--- | :--- | | **Total Cash** | $432.5 million | | **Outstanding Borrowings** | $1,295.9 million | - Principal sources of funds include cash flow from operations, equity offerings, and various debt facilities, used for capital expenditures, working capital, debt payments, and dividends[18](index=18&type=chunk) - In October 2024, the company secured a committed term sheet for up to **$130.0 million** to finance the five Kamsarmax vessels currently under construction[24](index=24&type=chunk) [Dividend Policy](index=8&type=section&id=Dividend%20Policy) On November 19, 2024, the Board declared a quarterly cash dividend of **$0.60 per share**, subject to financial condition and market factors - On November 19, 2024, the Board declared a quarterly cash dividend of **$0.60 per share**, payable around December 18, 2024, to shareholders of record as of December 5, 2024[26](index=26&type=chunk) - Dividend payments are at the discretion of the Board of Directors and depend on earnings, market conditions, capital requirements, and limitations under debt agreements[27](index=27&type=chunk) [Operating Results](index=9&type=section&id=Operating%20Results) Operating results for the nine months ended September 30, 2024, improved with a **TCE rate of $19,209**, driven by stronger market conditions and fleet expansion [Key Operating Metrics](index=9&type=section&id=Key%20Operating%20Metrics) Key operating metrics for 9M 2024 showed significant growth, with average vessels increasing to **141.3** and TCE rate rising **27.8% to $19,209** Operating Data Comparison (Nine-month period ended Sep 30) | Metric | 2023 | 2024 | Change | | :--- | :--- | :--- | :--- | | **Average number of vessels** | 125.1 | 141.3 | +12.9% | | **Ownership days** | 34,159 | 38,708 | +13.3% | | **Available days** | 32,867 | 37,210 | +13.2% | | **TCE rate (USD)** | $15,035 | $19,209 | +27.8% | [Factors Affecting Our Results of Operations](index=10&type=section&id=Factors%20Affecting%20Our%20Results%20of%20Operations) Results are influenced by vessel count, charter rates, and charter mix, with key expenses including voyage, operating, and financing costs, and derivative impacts - Revenue is primarily driven by the number of vessels, charter rates, and the mix of spot versus time charters[34](index=34&type=chunk) - Key expenses include voyage expenses, vessel operating costs, dry docking, depreciation, G&A, and interest and finance costs[36](index=36&type=chunk)[38](index=38&type=chunk)[39](index=39&type=chunk)[40](index=40&type=chunk)[50](index=50&type=chunk) - The company uses Forward Freight Agreements (FFAs) and bunker swaps as economic hedges, with realized and unrealized gains/losses affecting earnings[43](index=43&type=chunk)[44](index=44&type=chunk) [Results of Operations Comparison (9M 2024 vs. 9M 2023)](index=13&type=section&id=Results%20of%20Operations%20Comparison) For 9M 2024, voyage revenues increased to **$956.5 million** and net income to **$262.2 million**, driven by fleet expansion and higher TCE rates Income Statement Highlights (Nine-month period ended Sep 30) | Line Item (in millions USD) | 2023 | 2024 | | :--- | :--- | :--- | | **Voyage Revenues** | $685.8 | $956.5 | | **Vessel Operating Expenses** | $167.2 | $202.2 | | **General & Admin Expenses** | $36.3 | $51.8 | | **Interest & Finance Costs** | $49.8 | $70.5 | | **Net Income** | $133.8 | $262.2 | [Cash Flow Analysis](index=14&type=section&id=Cash%20Flow%20Analysis) Net cash from operations was **$394.9 million** in 9M 2024, investing provided **$313.6 million**, and financing used **$497.7 million**, ending with **$472.5 million** cash Cash Flow Summary (Nine-month period ended Sep 30) | Cash Flow Activity (in millions USD) | 2023 | 2024 | | :--- | :--- | :--- | | **Net Cash from Operating Activities** | $247.2 | $394.9 | | **Net Cash from Investing Activities** | $186.0 | $313.6 | | **Net Cash used in Financing Activities** | ($417.2) | ($497.7) | [Unaudited Interim Condensed Consolidated Financial Statements](index=16&type=section&id=UNAUDITED%20INTERIM%20CONDENSED%20CONSOLIDATED%20FINANCIAL%20STATEMENTS) [Financial Statements Overview](index=17&type=section&id=Financial%20Statements%20Overview) Unaudited consolidated financial statements for 9M 2024 reflect the Eagle Merger's impact, with total assets at **$4.16 billion** and net income at **$262.2 million** [Consolidated Balance Sheets](index=17&type=section&id=Consolidated%20Balance%20Sheets) As of September 30, 2024, total assets reached **$4.16 billion**, liabilities **$1.65 billion**, and equity **$2.51 billion**, largely due to the Eagle Merger Balance Sheet Summary (in thousands USD) | Account | Dec 31, 2023 | Sep 30, 2024 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $227,481 | $453,564 | | **Vessels and other fixed assets, net** | $2,539,743 | $3,287,229 | | **Total Assets** | **$3,028,255** | **$4,156,949** | | **Long-term bank loans, net** | $970,039 | $1,104,022 | | **Total Liabilities** | **$1,368,185** | **$1,645,255** | | **Total Shareholders' Equity** | **$1,660,070** | **$2,511,694** | [Consolidated Income Statements](index=19&type=section&id=Consolidated%20Income%20Statements) For 9M 2024, voyage revenues were **$956.5 million** and net income **$262.2 million**, with diluted EPS at **$2.48**, significantly up from 2023 Income Statement Summary (Nine months ended Sep 30, in thousands USD) | Account | 2023 | 2024 | | :--- | :--- | :--- | | **Voyage revenues** | $685,808 | $956,542 | | **Operating income** | $179,222 | $320,771 | | **Net income** | $133,849 | $262,208 | | **Earnings per share, diluted** | $1.30 | $2.48 | [Consolidated Statements of Cash Flows](index=22&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations was **$394.9 million** in 9M 2024, investing provided **$313.6 million**, and financing used **$497.7 million**, ending with **$472.5 million** cash Cash Flow Summary (Nine months ended Sep 30, in thousands USD) | Activity | 2023 | 2024 | | :--- | :--- | :--- | | **Net cash provided by Operating Activities** | $247,173 | $394,856 | | **Net cash provided by Investing Activities** | $185,962 | $313,594 | | **Net cash used in Financing Activities** | ($417,163) | ($497,663) | | **Net increase in cash** | $15,972 | $210,787 | | **Cash and restricted cash at end of period** | $302,316 | $472,537 | [Notes to Financial Statements](index=24&type=section&id=Notes%20to%20Unaudited%20Interim%20Condensed%20Consolidated%20Financial%20Statements) Notes detail the Eagle Merger's accounting, fleet changes, new debt facilities, share capital activities, and subsequent events like dividend declarations [Note 1: Basis of Presentation and Eagle Merger](index=24&type=section&id=Note%201.%20Basis%20of%20Presentation%20and%20General%20Information) Note 1 details the Eagle Merger, completed April 9, 2024, accounted for as an asset acquisition with **$665.6 million** consideration for **$805.8 million** fair value of net assets - The Eagle Merger was accounted for as an asset acquisition, with assets and liabilities recorded at cost based on their relative fair value[99](index=99&type=chunk) Eagle Merger Consideration (April 9, 2024) | Metric | Value | | :--- | :--- | | **Total Star Bulk common stock issued** | 28,082,319 shares | | **Star Bulk closing price per share** | $23.70 | | **Consideration transferred** | $665.6 million | - The fair value of net assets acquired (**$805.8 million**) exceeded the consideration transferred (**$665.6 million**) by **$140.2 million**, allocated to reduce acquired vessel value[103](index=103&type=chunk)[104](index=104&type=chunk) [Note 5: Vessels, Fixed Assets, and Construction](index=31&type=section&id=Note%205.%20Vessels%20and%20other%20fixed%20assets%2C%20net%20and%20Advances%20for%20vessels%20under%20construction) Note 5 details fixed asset changes, including the **52-vessel Eagle fleet acquisition**, **$32.0 million gain** from vessel sales, and **$156.7 million** in newbuild commitments - Acquired a fleet of **52 dry bulk vessels** through the Eagle Merger[118](index=118&type=chunk) - Recognized a net gain of **$32.0 million** from the sale of vessels during the nine-month period ended September 30, 2024[121](index=121&type=chunk) - As of September 30, 2024, the remaining contracted price for five vessels under construction was **$156.7 million**, payable through August 2026[126](index=126&type=chunk) [Note 8: Debt and Convertible Notes](index=35&type=section&id=Note%208.%20Long-term%20bank%20loans%20and%20Convertible%20Notes) Note 8 details **$388.1 million** in new loans to refinance Eagle debt and the conversion of Eagle Convertible Notes into **5.97 million** Star Bulk shares - Entered into new loan facilities totaling **$388.1 million** in April 2024 to refinance the debt assumed from Eagle[137](index=137&type=chunk)[139](index=139&type=chunk)[140](index=140&type=chunk)[141](index=141&type=chunk)[142](index=142&type=chunk) - The assumed Eagle Convertible Notes matured on August 1, 2024, and were converted into **5,971,284 shares** of Star Bulk common stock[151](index=151&type=chunk) [Note 9: Share Capital](index=40&type=section&id=Note%209.%20Preferred%20and%20Common%20Shares%20and%20Additional%20Paid-in%20Capital) Note 9 outlines share capital changes, including **28.1 million shares** issued for the Eagle Merger, **$19.2 million** in share repurchases, and **$206.2 million** in dividends paid - Issued **28,082,319 common shares** as consideration for the Eagle Merger[83](index=83&type=chunk)[95](index=95&type=chunk) - Repurchased **933,004 common shares** for an aggregate consideration of **$19.2 million**[159](index=159&type=chunk) - Declared and paid cash dividends of **$206.2 million**, equivalent to **$1.90 per common share**[160](index=160&type=chunk) [Note 12: Commitments and Contingencies](index=43&type=section&id=Note%2012.%20Commitments%20and%20Contingencies) As of September 30, 2024, future minimum charter revenues are **$121.6 million**, with commitments of **$99.0 million** for charter-in and vessel upgrades Future Commitments (as of Sep 30, 2024) | Commitment Type | Total Amount (USD) | | :--- | :--- | | **Future Minimum Charter Revenues (Inflows)** | $121.6 million | | **Charter-in & Upgrade Expenses (Outflows)** | ($99.0 million) | [Note 15: Subsequent Events](index=49&type=section&id=Note%2015.%20Subsequent%20Events) Subsequent events include delivery of two newbuild vessels, securing **$130 million** financing for Kamsarmax newbuilds, and a **$0.60 per share** quarterly dividend declaration - Took delivery of two newbuilding vessels, Star Illusion and Star Thetis, under long-term charter-in agreements[200](index=200&type=chunk) - Secured a committed term sheet for up to **$130 million** for post-delivery financing of five Kamsarmax vessels under construction[200](index=200&type=chunk) - On November 19, 2024, the Board declared a quarterly cash dividend of **$0.60 per share**[200](index=200&type=chunk)

Star Bulk Carriers Corp. (NASDAQ:SBLK) Q3 2024 Earnings Conference Call November 20, 2024 11:00 AM ET Company Participants Petros Pappas - Chief Executive Officer Hamish Norton - President Simos Spyrou - Co-Chief Financial Officer Christos Begleris - Co-Chief Financial Officer Nicos Rescos - Chief Operating Officer Charis Plakantonaki - Chief Strategy Officer Conference Call Participants Omar Nokta - Jefferies Ben Nolan - Stifel Nicolaus Christopher Robertson - Deutsche Bank Bendik Folden Nyttingnes - Clark ...

November 2024 FINANCIAL RESULTS Q3 2024 Forward-Looking Statements This presentation contains certain forward-looking statements. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements may include statements concerning the Company's plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts, identified by words such a ...