Announced 08/03
- Rev of $238.7M
- Net income of $44.3M
- Declared div of 40c/sh
- In late May 2023, SBLK agreed to sell 6 Supramax vessels. Proceeds will be recognized in Q3 upon vessel delivery.
- Company continued its share buybacks.
p1h6ugl5bauatgtti0169k1r924.pdf (starbulk.com)
Like the company and its strategy. Debt/vessel is less than $10M per vessel, so the vessel sales should contribute decent cash in Q3. That said, I have been attempting to lower my SBLK cost basis in 2023 via sales and purchases.