Oil’s Rally Could Boost These 3 Shipping Stocks Star Bulk Carriers (NASDAQ:SBLK) reported solid profitability for the first quarter and outlined a capital allocation approach centered on returning free cash flow to shareholders, while management said it remains optimistic about…
y bulk market conditions through the balance of the year. Christos Begleris, co-chief financial officer, said the company posted net income of $58.5 million and adjusted net income of $63 million, or $0.52 in adjusted earnings per share
Adjusted EBITDA was $114.3 million, which he said reflected the “strong cash-generating capacity” of the company’s platform. – 3 Small-Cap Stocks on the Way to Bigger and Better Days Revenue from the fleet totaled $212.5 million, while adjusted EBITDA from vessel operations was $113 million during the quarter, according to the company’s presentation discussed on the call. Shareholder Returns and Balance Sheet Begleris said Star Bulk continued to return capital through both dividends and share repurchases. During the first quarter and through the date of the call, the company repurchased approximately 1.9 million shares for $37.9 million.
The board also declared a quarterly dividend of $0.50 per share, payable June 20 to shareholders of record as of June 12, 2026. – Spotlight on ZIM: Take Advantage of Shipping Stock Upside The company also updated its dividend distribution policy, with Begleris saying Star Bulk will distribute 100% of free cash flow, subject to maintaining a minimum cash balance of $2.1 million per vessel. Star Bulk ended the quarter with approximately $432 million in total cash and cash equivalents, outstanding debt of about $874 million and $110 million in undrawn revolver capacity. Begleris said the company owns 29 debt-free vessels with an aggregate market value of around $700 million, giving it “substantial financial flexibility” for growth opportunities and downside protection.