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Safe Bulkers, Inc.

SB

Safe Bulkers, Inc. • NYSE
$5.29 ▼ -1.49% (-0.08)
Market Cap $541.27 M
52w High $5.54
52w Low $3.02
Dividend Yield 0.20%
P/E 12.3
Volume 571.25K
Outstanding Shares 102.32M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $65.745M ▲ $7.696M ▲ $1.698M ▼ 2.583% ▼ $-0.003 ▼ $25.6M ▼
Q1-2025 $64.348M ▼ $6.657M ▼ $7.245M ▼ 11.259% ▼ $0.05 ▼ $29.335M ▼
Q4-2024 $71.492M ▼ $8.228M ▲ $19.361M ▼ 27.081% ▼ $0.16 ▼ $43.132M ▼
Q3-2024 $75.923M ▼ $-678K ▼ $25.123M ▼ 33.09% ▼ $0.22 ▼ $48.252M ▲
Q2-2024 $78.548M $-23K $27.595M 35.131% $0.24 $41.989M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $117.428M ▼ $1.409B ▲ $593.675M ▲ $815.576M ▼
Q1-2025 $120.214M ▼ $1.381B ▼ $554.526M ▼ $826.812M ▼
Q4-2024 $125.422M ▲ $1.403B ▲ $571.478M ▲ $831.618M ▲
Q3-2024 $85.292M ▲ $1.348B ▲ $522.629M ▼ $825.362M ▲
Q2-2024 $72.281M $1.338B $530.334M $807.54M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $1.698M ▼ $19.1M ▼ $20.3M ▲ $9.8M ▲ $0 ▲ $19.1M ▼
Q1-2025 $7.245M ▼ $29.9M ▲ $-44.2M ▼ $-34.1M ▼ $-91.558M ▼ $29.9M ▲
Q4-2024 $19.361M ▲ $26.594M ▲ $-42.849M ▼ $41.695M ▲ $-1.209M ▼ $-14.418M ▼
Q3-2024 $0 $24.8K ▼ $7.2K ▲ $-13.8K ▲ $0 ▲ $24.8K ▼
Q2-2024 $0 $39.995M $-4.061M $-42.689M $-6.424M $39.995M

Five-Year Company Overview

Income Statement

Income Statement Safe Bulkers’ earnings picture shows a company that has moved from a weak year during the pandemic to several years of solid profitability, then a normalization from peak levels. Revenue jumped strongly as shipping markets recovered, peaked a couple of years ago, and has since eased a bit but remains well above the downturn period. Profit margins widened meaningfully after 2020 and are still healthy, even if not at the prior boom levels. Net income has stayed positive for several years in a row, which indicates the business can generate real profits through the cycle, but those profits remain closely tied to volatile freight rates and global trade activity.

Balance Sheet

Balance Sheet The balance sheet looks stronger today than a few years ago. Total assets have grown as the company has invested in its fleet, while equity has steadily increased, suggesting that retained earnings are building up the company’s capital base. Debt has been reduced from earlier peak levels and, while it has ticked up recently with new investments, it appears more manageable relative to the company’s size than in the past. Cash balances are modest rather than abundant, which is common in shipping, so financial discipline and access to funding remain important in any prolonged downturn.

Cash Flow

Cash Flow Cash generated from day‑to‑day operations has been solid for several years, reflecting the underlying profitability of the fleet. However, the company has been spending heavily on new vessels and upgrades, so cash going out for investments has recently exceeded what is left after operating needs. That means free cash flow has been slightly negative in the latest years, not because the core business is weak, but because the company is in a spending phase to modernize and expand its fleet. This can support future competitiveness, but it also reduces financial flexibility if market conditions worsen.

Competitive Edge

Competitive Edge Safe Bulkers operates in a very cyclical, commodity‑like industry, but it has carved out some advantages. Its focus on a modern, fuel‑efficient fleet helps lower operating costs and makes its ships more attractive to charterers that care about emissions and fuel bills. Longstanding relationships with major customers and a track record in the industry also support utilization and chartering opportunities. On the other hand, the company is still exposed to intense global competition, swings in bulk commodity demand, and the risk that new capacity or weaker trade flows can quickly pressure freight rates and earnings.

Innovation and R&D

Innovation and R&D The company’s main innovation effort is centered on fleet renewal and environmental performance rather than traditional lab‑style R&D. It is investing in newer “eco” vessels that meet stricter international efficiency and emissions standards, experimenting with dual‑fuel designs like methanol‑capable ships, and retrofitting existing vessels with technologies that cut fuel use. Digital tools for monitoring vessel performance and optimizing routes add another layer of efficiency. These moves position Safe Bulkers to comply with tightening regulations and appeal to customers with sustainability goals, but they also require ongoing capital spending and careful execution as technologies and rules continue to evolve.

Summary

Overall, Safe Bulkers looks like a dry bulk shipowner that has strengthened its finances since the pandemic, benefited from a strong freight market, and is now channeling a large share of its cash into upgrading and greening its fleet. Profitability has been solid but clearly cyclical, reflecting the broader shipping market. The balance sheet is healthier than in the past, though not immune to downturn risk, especially given continuing investment commitments. The push into modern, efficient, and lower‑emission ships, alongside digital optimization, offers a competitive edge in a highly commoditized industry, but success ultimately remains tied to volatile global trade flows, regulatory developments, and effective capital allocation across cycles.

NEWS

November 25, 2025 · 4:05 PM UTC

Safe Bulkers, Inc. Reports Third Quarter 2025 Results and Declares Dividend on Common Stock

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November 19, 2025 · 4:05 PM UTC

Safe Bulkers, Inc. Sets Date for the Third Quarter 2025 Results, Conference Call, and Webcast

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October 7, 2025 · 4:05 PM UTC

Safe Bulkers, Inc. to Participate in Capital Link's 17th Annual New York Maritime Forum on October 14, 2025

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October 3, 2025 · 4:05 PM UTC

Safe Bulkers, Inc. Declares Quarterly Dividend on its 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares; 8.00% Series D Cumulative Redeemable Perpetual Preferred Shares

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September 16, 2025 · 4:05 PM UTC

Safe Bulkers, Inc. Announces Results of 2025 Annual Meeting of Stockholders

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