STAR BULK CARRIERS Reports Second Quarter Fiscal Year 2023 Earnings Results
August 10, 2023
🌥️Earnings Overview
On August 3 2023, STAR BULK CARRIERS ($NASDAQ:SBLK) revealed their second quarter (ended June 30 2023) earnings results for FY2023. Compared to the same period a year ago, total revenue decreased by 42.8%, reaching USD 238.7 million, while net income declined by 77.9% to USD 44.3 million.
Share Price
At the open of markets, the stock was priced at $17.3 and at close it had risen to $17.6, marking a 1.8% increase from its previous closing price of $17.3. These positive results were due in part to improved operations and cost discipline. Overall, shareholders and analysts have expressed their satisfaction with STAR BULK CARRIERS’ performance in the quarter, with many expecting the company to continue to deliver strong results over the next few quarters. With this in mind, STAR BULK CARRIERS stock looks poised to continue its upwards trend as investors remain optimistic about the company’s future prospects. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for SBLK. More…
| Total Revenues | Net Income | Net Margin |
| 1.12k | 285.68 | 24.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for SBLK. More…
| Operations | Investing | Financing |
| 480.88 | 104.23 | -634.03 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for SBLK. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.29k | 1.29k | 19.32 |
Key Ratios Snapshot
Some of the financial key ratios for SBLK are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 11.7% | 77.7% | 31.6% |
| FCF Margin | ROE | ROA |
| 40.9% | 11.1% | 6.7% |
Analysis
At GoodWhale, we have conducted an analysis of STAR BULK CARRIERS’ financials and have come up with a Risk Rating that classifies the investment as medium risk. This assessment relates to both the financial and business aspects of STAR BULK CARRIERS. We have identified two risk warnings within the income statement and balance sheet. As a registered user, you can view these warnings and make an informed decision about your investment in STAR BULK CARRIERS. More…
Peers
In the shipping industry, there is intense competition between Star Bulk Carriers Corp and its competitors Golden Ocean Group Ltd, Grindrod Shipping Holdings Ltd, and Safe Bulkers Inc. All four companies are striving to provide the best service and lowest prices to their customers. While each company has its own strengths and weaknesses, Star Bulk Carriers Corp has emerged as the clear leader in the industry.
– Golden Ocean Group Ltd ($NASDAQ:GOGL)
Golden Ocean Group Ltd is an international provider of marine transportation services. The Company’s principal business is the ownership and operation of dry-bulk carrier vessels. Golden Ocean Group Ltd is headquartered in Bermuda and was founded in 2005.
– Grindrod Shipping Holdings Ltd ($NASDAQ:GRIN)
Grindrod Shipping Holdings Ltd is a shipping company that operates a fleet of tankers, bulk carriers, and containerships. The company has a market cap of 484.61M as of 2022 and a Return on Equity of 34.0%. Grindrod Shipping Holdings Ltd provides maritime transportation services worldwide and is one of the leading shipping companies in the world.
– Safe Bulkers Inc ($NYSE:SB)
Safe Bulkers, Inc is a holding company that operates through its subsidiaries. The Company is engaged in the business of transporting dry-bulk cargoes through the ownership and operation of dry-bulk carrier vessels. Safe Bulkers, Inc has a market cap of 325.79M as of 2022, a Return on Equity of 20.25%. The company has a fleet of 43 vessels, including 32 panamax vessels, six kamsarmax vessels, three ultramax vessels and two post-panamax vessels, with a carrying capacity of 4,846,000 dwt.
Summary
Investing analysis on STAR BULK CARRIERS reveals a significant decline in second quarter of FY2023 performance vs the prior year. Total revenue was down 42.8% to USD 238.7 million and net income was down 77.9% to USD 44.3 million. This sharp drop in both categories could signal a tough outlook for the company in the near-term, and investors should exercise caution when considering STAR BULK CARRIERS. It is important to keep track of the company’s financials going forward and consider all market factors before making any investment decisions.
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