Norway's 2020 Bulkers Q2 profit helped by vessel sales
Norway's 2020 Bulkers Q2 profit helped by vessel sales
Overview
Norway-based dry bulk shipper reported Q2 net profit of $29.8 mln
Q2 EBITDA was $28.6 mln
Company sold Bulk Sandefjord, repurchased 2.79 mln shares, paid special dividend
Outlook
Company did not provide specific guidance or outlook for future quarters
Result Drivers
VESSEL SALE - Sale of Bulk Sandefjord completed in April 2026
INCOME BOOST - Gain of $28.9 mln on vessel sales lifted operating revenues and other income, partly offset by lower time charter revenues
NO VOYAGE INCOME - Voyage expenses and commission were nil due to the vessel sales
Company press release: ID:nMFNbDd6cr
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Income |
| $29.8 mln |
|
Q2 EBITDA |
| $28.6 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the marine freight & logistics peer group is "buy."
Wall Street's median 12-month price target for 2020 Bulkers Ltd is NOK142.00, about 2,711.9% above its August 25 closing price of NOK5.05
The stock recently traded at 0 times the next 12-month earnings vs. a P/E of 0 three months ago
Reuters Recommended Reads
Aug 26 - Norway's MPC Container Ships beats Q2 revenue estimates
Aug 25 - Norway's Klaveness combination carriers Q2 EBITDA rises on stronger markets
Aug 25 - Denmark's Cadeler H1 revenue more than doubles on fleet growth
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)