Star Bulk Q2 2023 results

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.
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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.