Welcome to our dedicated page for Eagle Bulk Shipping news (Ticker: EGLE), a resource for investors and traders seeking the latest updates and insights on Eagle Bulk Shipping stock.
Eagle Bulk Shipping Inc. (NASDAQ: EGLE), headquartered in Stamford, Connecticut, is a leading US-based provider of global transportation solutions for dry bulk commodities. With additional offices in Singapore and Copenhagen, Eagle focuses on the versatile midsize dry bulk vessel segment, operating one of the largest fleets of Supramax and Ultramax vessels worldwide.
The company’s core business involves the transportation of bulk commodities such as coal, grain, iron ore, steel, cement, and forest products. Eagle performs all management services in-house, covering strategic, commercial, operational, technical, and administrative functions. This integrated approach allows the company to optimize revenue performance and maximize earnings on a risk-managed basis.
Recently, Eagle Bulk Shipping Inc. adopted a Limited Duration Shareholder Rights Plan to protect the interests of its shareholders. This move, supported by outside legal and financial advisors, aims to ensure shareholders can realize the value of their investments while minimizing disruption from significant share sales.
Eagle Bulk’s financial condition remains robust, with a reported total liquidity of approximately $188 million as of March 31, 2023. The company continues to pursue its growth and renewal strategies, including the acquisition of 33 additional ships. The company maintains a balanced capital allocation strategy, which includes a dividend policy of 30% of net income and continued repayment of term debt.
Looking ahead, Eagle Bulk aims to capitalize on historically strong supply-side fundamentals to further enhance its Net Asset Value (NAV) per share and Earnings Per Share (EPS). The company remains committed to acting opportunistically to create value for its shareholders.
For more details and the latest updates, visit the company’s website.
Eagle Bulk Shipping Inc. (Nasdaq: EGLE) announced that Frank De Costanzo will step down as Chief Financial Officer (CFO) and will transition to a Special Advisor role through the end of 2023. Costa Tsoutsoplides, currently the Chief Strategy Officer, has been promoted to CFO effective April 1, 2023. CEO Gary Vogel praised De Costanzo for his contributions over six years, highlighting improvements in the company’s capital structure. Tsoutsoplides has been with Eagle since 2010 and brings extensive financial experience.
Eagle Bulk Shipping reported robust financial results for Q3 2022, generating $185.3 million in revenues and a net income of $77.2 million, or $5.94 per share. The company achieved a Time Charter Equivalent (TCE) of $28,099/day, outperforming the BSI by 46%. Adjusted net income stood at $74.3 million. Additionally, Eagle repurchased 9% of its convertible bond debt and declared a $1.80 dividend per share, marking the fifth consecutive quarterly dividend. Liquidity remained strong with cash and equivalents totaling $197.6 million at the end of the quarter.
Eagle Bulk Shipping Inc. (Nasdaq: EGLE) announced it will release its financial results for Q3 2022 on November 3, 2022, after market close. A senior management call to discuss these results and provide market updates is scheduled for 8:00 a.m. ET on November 4, 2022. Investors can access the live webcast via the Investor Relations page on the company's website. Eagle Bulk is a leading owner-operator in the midsize drybulk sector, managing a large fleet of Supramax and Ultramax vessels, providing comprehensive global transportation solutions.
Eagle Bulk Shipping has announced the acquisition of a high-specification Ultramax bulkcarrier, the M/V Tokyo Eagle, for USD 27.5 million. The vessel will be delivered in Q4 2022 and is part of the company's fleet expansion strategy, which currently consists of 53 ships with a significant majority being scrubber-fitted. The recent sale of the older M/V Cardinal for USD 15.8 million further optimizes the fleet's efficiency. This acquisition is aimed at enhancing cargo capacity and reducing emissions, aligning with Eagle's focus on sustainable growth and fleet modernization.
Eagle Bulk Shipping, a leader in the midsize drybulk vessel segment, announced impressive financial results for Q2 2022, with net revenues of $198.7 million and a record net income of $94.5 million, translating to $7.27 per share. Adjusted net income stood at $81.6 million, or $6.28 per share. The adjusted EBITDA reached $102.6 million. The company declared a quarterly dividend of $2.20, yielding approximately 18% based on current stock prices. Fleet utilization remained high at 99.8%, with 72% of available days fixed for Q3 at an average TCE of $29,024.
Eagle Bulk Shipping Inc. (Nasdaq: EGLE) will report its second-quarter financial results on August 4, 2022, post-market close. A management call is scheduled for August 5, 2022, at 8:00 a.m. ET to discuss these results and market fundamentals. The call can be accessed via a live webcast on the company’s Investor Relations page. Eagle Bulk operates a significant fleet of Supramax and Ultramax vessels, providing global transportation solutions across diverse sectors. The company maintains in-house management for optimizing revenue and earnings.
Eagle Bulk Shipping reported strong first-quarter results for 2022, with revenues soaring to $184.4 million, up from $96.6 million in 2021. The company achieved a TCE of $27,407/day, leading to a net income of $53.1 million or $4.09 per share. Adjusted net income reached $64.5 million, or $4.97 per adjusted basic share. Furthermore, a quarterly dividend of $2.00 per share was declared. Despite the ongoing geopolitical tensions affecting trade patterns, Eagle's performance indicates resilience and strong demand, particularly for Supramax/Ultramax vessels, with 83% of Q2 available days fixed at an average TCE of $29,300.
Eagle Bulk Shipping Inc. (Nasdaq: EGLE) will report its Q1 2022 financial results on May 5, 2022, after market close. A teleconference and webcast to discuss these results will be held on May 6, 2022, at 8:00 a.m. ET. Investors can participate by calling +1 844-282-4411 (U.S.) or +1 512-900-2336 (international), using participant code 4384843. A replay will be available until May 16, 2022. Eagle Bulk Shipping, based in Stamford, CT, is a major player in the midsize drybulk segment, managing a fleet of Supramax/Ultramax vessels.
Eagle Bulk Shipping (NASDAQ: EGLE) reported record financial results for Q4 and 2021, highlighting a net income of $87.5 million ($6.79 per share) and total revenues of $184.7 million in Q4, a notable increase from $75.2 million year-over-year. For the full year, net income reached $184.9 million and revenues were $594.5 million, a 116% increase from 2020. The Company declared a quarterly dividend of $2.05 per share and executed a $400 million refinancing to lower debt costs. Despite positive performance, management noted increased volatility and geopolitical risks affecting near-term operations.
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