Safe Bulkers, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 12, 2024 at 04:15 pm EST
Share
Safe Bulkers, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 85.48 million compared to USD 90.11 million a year ago. Revenue was USD 82.29 million compared to USD 86.66 million a year ago. Net income was USD 27.61 million compared to USD 34.87 million a year ago. Basic earnings per share from continuing operations was USD 0.23 compared to USD 0.28 a year ago.
For the full year, sales was USD 295.39 million compared to USD 364.05 million a year ago. Revenue was USD 284.4 million compared to USD 349.72 million a year ago. Net income was USD 77.35 million compared to USD 172.55 million a year ago. Basic earnings per share from continuing operations was USD 0.61 compared to USD 1.36 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. 
