Star Bulk Carriers Reports $58.5 Million Net Income for Q1 2026
Star Bulk Carriers reported first-quarter 2026 financial results on Thursday. The company posted net income of $58.5 million and adjusted net income of $63 million. Management also announced a $0.50 per share dividend and share repurchases of $37.9 million.
BenzingaStar Bulk Carriers reported first-quarter 2026 financial results on Thursday. 5 million and adjusted net income of $63 million, or 52 cents per share. 3 million.
9 million. 1 billion in dividends, repurchases, and debt repayment. 1 million per vessel. Total cash stood at $409 million at quarter end, with outstanding debt at $874 million and an undrawn revolver of $110 million.
The company owns 136 vessels and reported charter equivalent revenue of $18,493 per vessel per day. Combined daily operating expenses and net cash general and administrative costs totaled $6,420 per vessel per day, producing a daily cash margin of $12,073 before debt service and capital expenditures.
Management stated it remains optimistic about dry bulk market conditions for the remainder of 2026 and 2027, citing favorable supply-demand dynamics and geopolitical factors. The company plans to continue selling older vessels and investing in energy-saving upgrades while maintaining low leverage.
Key Facts
Story Timeline
3 events- Thursday
Star Bulk Carriers held earnings call for Q1 2026 results.
1 sourceBenzinga - Q1 2026
Company generated $112 million in operating cash flow.
1 sourceBenzinga - Q1 2026
Board declared $0.50 per share dividend payable June 20.
1 sourceBenzinga
Potential Impact
- 01
Shareholders of record as of June 12 will receive the $0.50 dividend on June 20.
- 02
The company will continue selling older vessels and investing in energy-saving upgrades.
Transparency
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