Safe Bulkers, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024
April 30, 2024 at 01:35 am IST
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Safe Bulkers, Inc. reported earnings results for the first quarter ended March 31, 2024. For the first quarter, the company reported sales was USD 84.98 million compared to USD 69.49 million a year ago. Revenue was USD 81.67 million compared to USD 66.85 million a year ago.
Net income was USD 25.3 million compared to USD 19.31 million a year ago. Basic earnings per share from continuing operations was USD 0.21 compared to USD 0.15 a year ago. Diluted earnings per share from continuing operations was USD 0.21 compared to USD 0.15 a year ago.
Safe Bulkers, Inc. is a holding company. The Company's principal business is the acquisition, ownership and operation of drybulk vessels. The Company's vessels operate across the world, carrying drybulk cargo for the consumers of marine drybulk transportation services. The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along shipping routes across the world. As of February 17, 2017 the Company's fleet included 38 vessels, of which 14 are Panamax class vessels, nine are Kamsarmax class vessels, 12 are Post-Panamax class vessels and three are Capesize class vessels, with an aggregate carrying capacity of 3,421,800 deadweight tonnage (dwt). The Company's fleet of Post-Panamax vessels includes Marina, Xenia, Sophia, Eleni, Martine, Andreas K, Panayiota K, Venus Heritage, Venus History, Venus Horizon and Troodos Sun. Its fleet of Capesize vessels includes Kanaris, Pelopidas and Lake Despina.
SAFE BULKERS, INC. 
