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Safe Bulkers Full Year 2022 Earnings: Revenues Beat Expectations, EPS Lags

Safe Bulkers (NYSE:SB) Full Year 2022 Results

Key Financial Results

  • Revenue: US$349.7m (up 6.3% from FY 2021).

  • Net income: US$163.6m (flat on FY 2021).

  • Profit margin: 47% (down from 50% in FY 2021). The decrease in margin was driven by higher expenses.

  • EPS: US$1.36.

earnings-and-revenue-growth
earnings-and-revenue-growth

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

Safe Bulkers Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 8.7%. Earnings per share (EPS) missed analyst estimates by 2.2%.

Looking ahead, revenue is expected to fall by 1.8% p.a. on average during the next 2 years compared to a 8.6% decline forecast for the Shipping industry in the US.

Performance of the American Shipping industry.

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

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 2 warning signs for Safe Bulkers (1 doesn't sit too well with us) you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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