Star Bulk Carriers (4FAP) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

May 20, 2026

After Close (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

0.32

Last Year’s EPS

-0.06

Same Quarter Last Year

Analyst Consensus

―

Based on 0 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 25, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call presents a predominantly positive operational and financial picture: strong Q4 profitability (adjusted EBITDA $126.4M and adjusted EPS $0.16), robust per-vessel economics, substantial cash reserves (~$459M), active shareholder returns (dividend and buybacks), and clear progress on fleet efficiency and ESG initiatives. Market commentary was cautiously optimistic with modest expected demand and ton-mile growth in 2026. Notable challenges include commodity-specific headwinds (coal contraction and China steel weakness), ongoing fleet aging and retrofit-related off-hire days, regulatory/orderbook uncertainty, and a meaningful outstanding debt balance (~$1B). Overall, the highlights—particularly cash generation, capital return programs, deleveraging track record, and fleet modernization actions—outweigh the lowlights.

Company Guidance

Management's guidance centers on a dual-track capital‑return and disciplined investment approach: a $0.37 Q4 dividend (payable Mar 19, record Mar 9) and an intent to distribute 1% of free cash flow (citing $0.50/sh), plus a new $100M share‑repurchase authorization (Q4 buybacks: 1.2M shares for $37.9M; YTD 2026 ~1.9M shares); key financial/operating metrics cited were Q4 adjusted EPS $0.16, adjusted EBITDA $126.4M, 2025 net income $65.2M (adjusted net $74.5M), beginning‑Q4 cash $457M (total cash ≈ $459M), Q4 operating cash flow $101M, outstanding debt ≈ $1.0B, undrawn revolver $110M, and 27 debt‑free vessels valued ≈ $630M; per‑vessel economics highlighted TCE $19,012/day, combined OpEx + net cash G&A $6,444/day (OpEx $5,045 + G&A $1,399) and a daily cash margin ≈ $12,570 before debt service and CapEx; fleet and market guidance included 141 vessels (avg age ~12.1 yrs), 2025 deliveries 36.2M dwt vs demolitions 5.2M dwt (net +31.0M dwt, +3% y/y), orderbook 45.8M dwt (12.8% of fleet), an expected ~0.5% effective capacity reduction in 2026–27 from surveys/drydocks, average steaming speed ~11.1 knots, and drybulk demand forecasts for 2026 of +0.6% in tons and +1.9% in ton‑miles (iron ore +1.9%, coal −2.5%, grain +7.8%, minor bulks +2.1%); management said buybacks/dividends will be funded opportunistically (vessel sales/deleveraging) while continuing targeted fleet investments (e.g., $130M debt secured on five Qingdao vessels, expected $74M on three Qingling vessels, ~$55.6M telemetry spend, 55/80 ESD installations with 14 more planned).

Strong profitability and cash generation

Adjusted EBITDA of $126,400,000 in Q4 and adjusted EPS of $0.16, demonstrating solid profitability and cash-generating capacity even in a moderate rate environment.

Robust per-vessel economics

Time charter equivalent (TCE) of $19,012 per vessel per day in Q4; combined daily operating expenses plus net cash G&A of $6,444 per vessel per day, implying a daily cash margin of approximately $12,570 per vessel per day before debt service and CapEx.

Healthy liquidity and balance sheet optionality

Total cash and cash equivalents of approximately $459,000,000, undrawn revolving capacity of $110,000,000, and 27 debt-free vessels with an aggregate market value of ~ $630,000,000, providing significant financial flexibility.

Active and sizable capital returns to shareholders

Q4 repurchases of 1,200,000 shares totaling $37,900,000 (YTD 2026 repurchases ~1,900,000 shares); Board declared a $0.37 per share dividend for Q4; authorized a new $100,000,000 share repurchase program and a dividend policy target (stated distribution intent of $0.5 per share / 1% of free cash flow).

Disciplined multi-year capital allocation track record

Since 2021 executed approximately $3,000,000,000 in value-enhancing actions (dividends, buybacks, debt repayment), returned $13.49 per share in dividends (~55% of current share price), and reduced total net debt by 47%.

Operational efficiency and investment program progress

Q4 daily operating expenses were $5,045 per vessel and net cash G&A $1,399; completed 55 of 80 planned energy-saving device (ESD) installations with 13 additional vessels retrofitted in 2025, six fitted with high-efficiency propellers, and telemetry rollout investments of ~$55.6M underway.

Fleet optimization and scale

Operate one of the largest listed drybulk fleets with 141 vessels (average age ~12.1 years); ongoing selective disposals of older non-eco tonnage (multiple vessels delivered to new owners in Q4 and committed sales into Q1 2026) while maintaining seven long-term chartering contracts.

Positive market backdrop and ton-mile growth

Total drybulk trade grew 1.3% in volume and 2.1% in ton-miles in 2025; 2026 forecast calls for +0.6% in tons and +1.9% in ton-miles, supported by record bauxite/minor bulk exports, recovery in iron ore/coal/grain volumes, and improving global GDP forecasts.

ESG and technology progress

Fleet achieved an average C RightShip GHG rating and maintained a B score in CDP Water Management; covered 100% of 2026 CO2 deficit via pooling agreement; deployed Starlink and firewalls fleetwide and delivered company's first custom-built AI application.

Quarter cash flow and deleveraging

Started Q4 with $457,000,000 in cash and generated $101,000,000 in operating cash flow during the quarter, while continuing to delever and preserve capital optionality.

Star Bulk Carriers (DE:4FAP) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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DE:4FAP Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 20, 2026	2026 (Q1)	0.32 / -	-0.059	―	―	―
Feb 25, 2026	2025 (Q4)	0.54 / 0.55	0.288	91.18% (+0.26)
Nov 18, 2025	2025 (Q3)	0.28 / 0.24	0.602	-60.56% (-0.36)
Aug 06, 2025	2025 (Q2)	0.04 / 0.09	0.661	-85.90% (-0.57)
May 14, 2025	2025 (Q1)	-0.22 / -0.06	0.738	-108.05% (-0.80)
Feb 18, 2025	2024 (Q4)	0.30 / 0.29	0.619	-53.42% (-0.33)
Nov 19, 2024	2024 (Q3)	0.59 / 0.60	0.288	108.82% (+0.31)
Aug 07, 2024	2024 (Q2)	0.66 / 0.66	0.399	65.96% (+0.26)
May 22, 2024	2024 (Q1)	0.67 / 0.74	0.305	141.67% (+0.43)
Feb 12, 2024	2023 (Q4)	0.62 / 0.62	0.763	-18.89% (-0.14)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

DE:4FAP Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 25, 2026	€21.24	€21.24	0.00%
Nov 18, 2025	€16.20	€16.09	-0.67%
Aug 06, 2025	€16.44	€16.11	-1.99%
May 14, 2025	€14.43	€14.26	-1.20%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.