Overview
- Star Bulk reported better‑than‑expected first‑quarter results with adjusted EPS of $0.56, revenue of $281.15 million and net income of $58.5 million.
- The board approved a $0.50 per‑share quarterly cash dividend and the company repurchased $37.9 million of stock during the quarter, continuing a program that has returned more than $2.05 billion to shareholders since 2021.
- Management said it will pay out operating cash flow net of capital expenditures and debt service as its capital‑allocation policy, using proceeds to fund returns and selective fleet renewal.
- The company sold older vessels for about $46.4 million, has paid $92.3 million in pre‑delivery installments on eight high‑spec Kamsarmax newbuilds due by end‑2026, and expects those steps to improve efficiency and lower emissions.
- Star Bulk completed financing moves including an $80 million facility with National Bank of Greece and repayment of a $48.8 million CEXIM loan and said it will have 29 unencumbered vessels once refinancings and prepayments are finished, giving it flexibility to benefit from counterseasonal rate strength and route disruptions.