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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Safe Bulkers
Safe Bulkers (SB) investor relations material
Safe Bulkers Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary10 Nov, 2026
Executive summary
Q3 net revenue was $91.0M and adjusted EPS was $0.31, more than double YoY; the quarterly dividend increased to $0.09/share.
9M net income rose to $96.3M from $26.7M; $515M liquidity and 29% consolidated leverage support newbuild funding and shareholder returns.
Financial highlights
Q3 net revenue rose 25% YoY to $91.0M; net income was $39.0M vs. $17.8M, adjusted EBITDA $53.8M vs. $36.1M, and adjusted EPS $0.31 vs. $0.12.
9M net revenue rose 24% to $252.9M; adjusted EBITDA was $144.8M vs. $91.0M and adjusted EPS $0.77 vs. $0.18.
Q3 average TCE was $21,235/day vs. $15,507; 9M average TCE was $19,658/day vs. $15,011.
Q3 vessel operating expenses were $6,061/day, or $5,256 excluding dry-docking and pre-delivery costs; 9M figures were $5,834 and $5,283/day, respectively.
Vessel-sale gains were $6.8M in Q3 and $10.9M for 9M; 9M adjusted net income was $85.3M vs. $24.6M.
Outlook and guidance
As of October 30, contracted revenue was $166.9M, net of commissions and excluding scrubber benefits; 13 vessels were in spot charters and 34 in period charters.
Average remaining charter duration was 0.4 years; all seven Capesize vessels were on period charters, with $88.9M contracted revenue and 1.4 years average remaining duration.
Eight newbuilds remain on order with deliveries through 2029; expected scheduled repair and upgrade downtime was 66 days in Q4 2026 and 86 days in Q1 2027.
Management expects a healthy freight market over the next two to three quarters, with longer-term conditions dependent on geopolitics and route changes; chartering balances spot exposure with period charters.
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Latest events from Safe Bulkers
- A modernizing 46-vessel fleet combines low leverage with disciplined shareholder returns.SB
Corporate presentation - Lower Q4 earnings amid fleet renewal and $246.4M in contracted revenue.SBQ4 2023
- Q2 2026 saw strong revenue and earnings growth, higher dividends, and robust liquidity.SBQ2 2026
- Q1 2026 saw robust revenue, higher dividends, and continued fleet renewal amid strong TCE rates.SBQ1 2026
- Q4 2025 delivered $72.6M revenue, $0.14 EPS, strong liquidity, and ongoing fleet renewal.SBQ4 2025
- Q3 2025 delivered $73.1M net revenues, 4.1% dividend yield, and robust liquidity despite lower TCE rates.SBQ3 2025
- Q3 2024 net revenues up 18%, net income $25.1M, strong liquidity, modern fleet.SBQ3 2024
- Q2 2024 delivered strong earnings, higher TCE, and robust liquidity amid ongoing fleet renewal.SBQ2 2024
- Q4 net income declined, but strong liquidity and fleet renewal support future growth.SBQ4 2024
Next Safe Bulkers earnings date
Q4 202612 Feb, 2027
Safe Bulkers
Next Safe Bulkers earnings date
Q4 202612 Feb, 2027
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Frequently asked questions
Safe Bulkers, Inc. is a provider of marine drybulk transportation services, operating a fleet of vessels that primarily transport bulk cargoes such as coal, grain, and iron ore across global shipping routes. The company owns and operates a fleet consisting of 47 drybulk vessels, including Panamax, Kamsarmax, Post-Panamax, and Capesize vessels, with a combined carrying capacity of approximately 4.7 million deadweight tons. The company is headquartered in Monaco, and its shares are listed on the NYSE.