Star Bulk Carriers First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Star Bulk Carriers (NASDAQ:SBLK) First Quarter 2024 Results

Key Financial Results

• Revenue: US$259.4m (up 16% from 1Q 2023).
• Net income: US$74.9m (up 63% from 1Q 2023).
• Profit margin: 29% (up from 21% in 1Q 2023).
• EPS: US$0.89 (up from US$0.45 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Star Bulk Carriers EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) exceeded analyst estimates by 19%.

Looking ahead, revenue is forecast to grow 3.9% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat.

Performance of the American Shipping industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

You should learn about the 5 warning signs we've spotted with Star Bulk Carriers.

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