Star Bulk Carriers Corp. Reports Net Profit of $0.5 Million For the First Quarter of 2025, and Declares Quarterly Dividend of $0.05 Per Share

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[{"type":"text","content":"ATHENS, Greece, May 14, 2025 (GLOBE NEWSWIRE) -- Star Bulk Carriers Corp. (the \"Company\" or \"Star Bulk\") (Nasdaq: SBLK), a global shipping company focusing on the transportation of dry bulk cargoes, today announced its unaudited financial and operating results for the first quarter of 2025 and the amendment of its dividend policy to pay a minimum quarterly dividend of $0.05 per share. Unless otherwise indicated or unless the context requires otherwise, all references in this press release to \"we,\" \"us,\" \"our,\" or similar references, mean Star Bulk Carriers Corp. and, where applicable, its consolidated subsidiaries. Financial Highlights (Expressed in thousands of U.S. dollars, except for daily rates and per share data) First quarter 2025First quarter 2024Voyage Revenues$230,650 $259,390Net income$462 $74,856Adjusted Net (loss) / income (1)($7,738)$73,239Net cash provided by operating activities$48,508 $114,262EBITDA (2)$57,992 $126,336Adjusted EBITDA (2)$48,970 $122,965Earnings per share basic and diluted$0.00 $0.89Adjusted (loss) / earnings per share basic and diluted (1)($0.07)$0.87Dividend per share for the relevant period$0.05 $0.75Average Number of Vessels 150.7 113.3TCE Revenues (3)$159,278 $195,664Daily Time Charter Equivalent Rate (\"TCE\") (3)$12,439 $19,627Daily OPEX per vessel (4)$5,008 $4,962Daily OPEX per vessel (as adjusted) (4)$4,898 $4,962Daily Net Cash G&A expenses per vessel (5)$1,319 $1,223 (1)Adjusted Net (loss) / income, Adjusted (loss) / earnings per share basic and diluted are non-GAAP measures. Please see EXHIBIT I at the end of this release for a reconciliation to Net income and earnings per share basic and diluted, which are the most directly comparable financial measures calculated and presented in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”), as well as for the definition of each measure.(2)EBITDA and Adjusted EBITDA are non-GAAP liquidity measures. Please see EXHIBIT I at the end of this release for a reconciliation of EBITDA and Adjusted EBITDA to Net Cash Provided by / (Used in) Operating Activities, which is the most directly comparable financial measure calculated and presented in accordance with U.S. GAAP, as well as for the definition of each measure. To derive Adjusted EBITDA from EBITDA, we exclude certain non-cash gains / (losses).(3)Da...

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