Star Bulk Carriers Corp. Stock Price, News & Analysis

Star Bulk Carriers Corp. (SBLK) reported a net profit of $42.4 million for Q4 2024, with voyage revenues of $308.9 million. The company declared a quarterly dividend of $0.09 per share, payable March 18, 2025. The company's TCE revenues increased to $216.8 million, though TCE rate decreased to $16,129 per day compared to $18,296 in Q4 2023.

Under its amended dividend policy, Star Bulk may allocate up to 60% of excess cash flow towards dividends, with the remainder for share buybacks and growth initiatives. The company repurchased 893,474 shares between December 2024 and January 2025 at an average price of $15.08 per share. The company achieved $12.6 million in cost reductions in Q4 alone, reaching an annualized run rate of over $50 million in synergies ahead of schedule.

Star Bulk Carriers Corp. (Nasdaq: SBLK) has announced its schedule for the release of fourth quarter 2024 financial results. The results will be released after the New York market closes on Tuesday, February 18, 2025.

The company will host a conference call to discuss these results on Wednesday, February 19, 2025, at 11:00 a.m. ET. Participants can join the call using US Toll-Free (+1 877 405 1226), International (+1 201 689 7823), or UK Toll-Free (+0 800 756 3429) numbers. The conference ID is 13751689.

Investors can also access the call through a 'call me' option for faster connection. Additionally, a live webcast and accompanying slides will be available through Star Bulk's website. Participants should register approximately 10 minutes before the webcast begins.

Star Bulk Carriers Corp. (SBLK) has announced significant changes to its dividend policy and share repurchase program. The company's Board has amended its 2021 dividend policy, allowing for up to 60% of cash flow from operations (less debt amortization, maintenance/upgrade CAPEX, and vessel cash reserves) to be allocated toward quarterly shareholder dividends.

The remaining cash flow will be strategically allocated between share repurchases and growth opportunities. The Board has also replaced the existing $50.0 million share repurchase program with a new $100.0 million program. Under this new program, the company has already repurchased 293,474 shares at an average price of $15.5, which will be withdrawn and cancelled, leaving 117,730,112 shares outstanding.

Star Bulk Carriers reported a net profit of $81.3 million for Q3 2024, with earnings per share of $0.69. The company declared a quarterly dividend of $0.60 per share, payable December 18, 2024. Voyage revenues increased to $344.3 million from $223.1 million in Q3 2023, while TCE rate improved to $18,843 from $15,068. The company's fleet expansion to 155.3 vessels from 121.5 contributed to the improved performance. Star Bulk continues its vessel optimization strategy, having sold 29 vessels for $563 million since 2021 and secured $130 million financing for five new Kamsarmax vessels.

Star Bulk Carriers Corp. (SBLK) has released its 2023 Environmental, Social, and Governance (ESG) Report, marking its sixth annual publication. The report adheres to Global Reporting Initiative (GRI 2021) standards, SASB Marine Transportation (2018) guidelines, and aligns with UN Sustainable Development Goals. Ernst & Young has provided assurance for specific GRI and SASB indicators.

The report presents a detailed overview of Star Bulk's sustainability strategy, performance metrics, and targets. Under ESG Committee guidance, the company implements best practices while addressing key environmental, social, and governance challenges. CEO Petros Pappas emphasized the company's commitment to human welfare and environmental well-being while expanding fleet operations.

Star Bulk Carriers (Nasdaq: SBLK) has scheduled its third quarter 2024 financial results release for Tuesday, November 19, 2024, after New York market closure. The management will host a conference call on Wednesday, November 20, 2024, at 11:00 a.m. ET to discuss the results.

Participants can join via phone using US Toll-Free (+1 877 405 1226), International (+1 201 689 7823), or UK Toll-Free (+0 800 756 3429) numbers. The conference ID is 13750102. A 'call me' option is available for faster connection. The company will also provide a live webcast with accompanying slides through their website, with registration required 10 minutes before start.

Star Bulk Carriers Corp. (Nasdaq: SBLK) has announced two significant developments:

1. The sale of its oldest vessel, the Capesize m/v Star Triumph (built in 2004), for a gross price of $20.0 million. This sale is expected to generate net proceeds of $13.0 million and result in a gain of approximately $7.7 million in Q3 2024.

2. The repurchase of 791,015 common shares at an average price of $20.58 per share, totaling about $16.3 million. These shares will be withdrawn and cancelled.

Management believes that the vessel sale price implies a per-share value significantly higher than the repurchase price, potentially creating value for shareholders.

Star Bulk Carriers Corp. (Nasdaq: SBLK), a global dry bulk shipping company, has announced changes to its Board of Directors. Mr. Sherman Lau, a Class B Director since May 2021, has resigned. The Board has appointed Ms. Milena Maria Pappas as a Class B Director to fill the vacancy. The Board now consists of ten directors. Petros Pappas, CEO of Star Bulk, expressed gratitude for the contributions of Oaktree representatives on the board over the past decade, acknowledging their invaluable role in the company's success.

Star Bulk Carriers Corp. (Nasdaq: SBLK) reported a net profit of $106.1 million for the second quarter of 2024. The company declared a quarterly dividend of $0.70 per share, payable on September 6, 2024, to shareholders of record as of August 27, 2024. Key financial highlights include:

• Voyage Revenues: $352.9 million, up from $238.7 million in Q2 2023
• Net Income: $106.1 million, compared to $44.3 million in Q2 2023
• EBITDA: $171 million, up from $92.5 million in Q2 2023
• Earnings per Share: $0.93 diluted, up from $0.43 diluted in Q2 2023
• TCE Rate: $19,268, up from $15,835 in Q2 2023
• Fleet Size: Increased to 155 vessels from 126.4 in Q2 2023

The company also completed the merger with Eagle Bulk Shipping, issuing 5.97 million shares upon conversion of Eagle's 5% Convertible Senior Notes. The expected cost and revenue synergy target remains at $50 million, to be fully realized by 2025.