Star Bulk Carriers Corp (SBLK) Q3 2025 Earnings Call Highlights: Navigating Strong Liquidity …

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• Net Income: $18.5 million for Q3 2025.

• Adjusted Net Income: $32.4 million or $0.16 per share.

• Adjusted EBITDA: $87 million for the quarter.

• Share Repurchase: 250,000 shares for $4.4 million in Q3; 360,000 shares for $6.7 million in Q4 to date.

• Dividend: $0.11 per share declared for Q3, payable on December 18, 2025.

• Total Cash: $454 million as of the end of Q3.

• Total Debt: $1.028 billion.

• Proforma Liquidity: Over $570 million, including undrawn revolver facilities.

• Debt-Free Vessels: 15 vessels with an aggregate market value of $336 million.

• Time Charter Equivalent Rate: $16,634 per vessel per day.

• Daily OpEx and G&A Expenses: $6,421 per vessel per day.

• Cash Flow from Operations: $92 million positive cash flow in Q3.

• Fleet Size: 145 vessels with an average age of 11.9 years.

• Vessel Sales: Six vessels sold in Q3, generating $75.5 million in profits.

Release Date: November 19, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

• Star Bulk Carriers Corp (NASDAQ:SBLK) reported a net income of $18.5 million and an adjusted net income of $32.4 million for the third quarter of 2025.

• The company declared a dividend of $0.11 per share for the quarter, reflecting a commitment to returning value to shareholders.

• Star Bulk Carriers Corp (NASDAQ:SBLK) has a strong liquidity position with total cash of $454 million and additional liquidity of $115 million through undrawn revolver facilities.

• The company has successfully reduced its average net debt by 50% since 2021, aligning it with the fleet’s scrap value.

• Star Bulk Carriers Corp (NASDAQ:SBLK) continues to invest in fleet renewal and efficiency, with plans for newbuildings and energy-saving device installations.

• The company’s total debt stands at $1.028 billion, which remains a significant financial obligation.

• Despite a strong cash position, the company faces ongoing capital expenditures for fleet upgrades and newbuildings.

• The dry bulk market faces uncertainties due to geopolitical tensions and regulatory changes, which could impact future demand.

• The fleet’s average age is 11.9 years, indicating potential future costs for maintenance and upgrades.

• Environmental regulations are becoming stricter, which may require additional investments in compliance and technology upgrades.

Q: Can you provide details on the new financings secured for the newbuilding assets and the expected net change in debt for 2026? A: Simos Spyrou, Co-Chief Financial Officer, explained that financing has been secured for the first five newbuildings at $130 million, with discussions ongoing for the last three. The amortization profile will remain around $50 million to $52 million per quarter for 2026, as older facilities are refinanced and new facilities have a 17-year amortization profile.