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Safe Bulkers reports 4Q17 results and provides an annual round up

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Dry Bulk,


Leading international provider of marine dry bulk transportation services, Safe Bulkers, Inc., has announced its unaudited financial results for 4Q17 and the 12-month period ended 31 December 2017.

Highlights: 4Q17 results

  • Net revenues for 4Q17 increased by 34% to US$42.4 million from US$31.7 million during the same period in 2016.
  • Net loss for the fourth quarter of 2017 was US$86.6 million as compared to US$4.6 million, during the same period in 2016.
  • EBITDA for the fourth quarter of 2017 amounted to loss of US$68.1 million as compared to earnings of US$13.1 million during the same period in 2016. Adjusted EBITDA for the fourth quarter of 2017 increased by 76% to US$23.9 million from US$13.6 million during the same period in 2016.
  • Loss per share and Adjusted earnings per share for 4Q17 were US$0.88 and US$0.02 respectively, calculated on a weighted average number of 101 531 352 shares, as compared to a Loss per share of US$0.09 and Adjusted loss per share of US$0.09 during the same period in 2016, calculated on a weighted average number of 87 364 672 shares.

Highlights: results for 12 months ended 31 December 2017

  • Net revenues for the 12 months of 2017 increased by 35% to US$148.0 million from US$109.8 million during the same period in 2016.
  • Net loss for the twelve months of 2017 was US$84.7 million as compared US$56.0 million, during the same period in 2016. Adjusted net loss for the twelve months of 2017 was US$1.7 million as compared to US$36.2 million, during the same period in 2016.
  • EBITDA for the twelve months of 2017 decreased to loss of US$8.4 million as compared to earnings of US$15.6 million during the same period in 2016. Adjusted EBITDA for the year 2017 increased by 110% to US$74.7 million as compared to US$35.5 million during the same period in 2016.
  • Loss per share and adjusted loss per share for the twelve months of 2017 were US$0.98 and US$0.16, respectively, calculated on a weighted average number of shares of 100 932 876, as compared to loss per share of US$0.83 and adjusted loss per share of US$0.59 during the same period in 2016, calculated on a weighted average number of shares of 84 526 411.

Read the article online at: https://www.drybulkmagazine.com/shipping/16022018/safe-bulkers-reports-4q17-results-and-provides-an-annual-round-up/

 

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