Greece's Star Bulk Q2 revenue beats estimates on higher charter rates

Star Bulk Carriers

05/08/2026 21:44

Overview
Greece-based dry bulk shipper's Q2 revenue rose and beat analyst expectations
Adjusted net income and adjusted EBITDA for Q2 beat analyst expectations
Company cited higher charter rates and gains from vessel sales and bunker prices for improved results

Outlook
Star Bulk says dry bulk market remains strong and outlook for balance of yr is constructive
Company expects supply-demand balance to support performance through remainder of 2026
Star Bulk plans delivery of five new vessels in H2 2026 to expand fleet

Result Drivers
HIGHER CHARTER RATES - Co said revenue growth was primarily due to higher charter rates, as reflected in the increase in TCE rate to $24,486 from $13,624 in the prior-year period
BUNKER SALES GAIN - Co said TCE revenues were significantly positively impacted by a $21 mln gain from the sale of bunkers, driven by higher bunker prices following escalation of geopolitical conflicts in the Middle East
VESSEL SALES - Co recognized a $12.4 mln gain from the sale of vessels during the quarter

Company press release: ID:nGNX1njrH7

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenues
Beat
$357.41 mln
$276.51 mln (4 Analysts)
Q2 Adjusted EPS
 
$1.21
 
Q2 EPS
 
$1.30
 
Q2 Adjusted Net Income
Beat
$134.75 mln
$122.10 mln (3 Analysts)
Q2 Net Income
 
$144.95 mln
 
Q2 Adjusted EBITDA
Beat
$184.22 mln
$170.26 mln (5 Analysts)
Q2 EBITDA
 
$194.83 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "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 Star Bulk Carriers Corp. is $33.00, about 16.9% above its August 4 closing price of $28.22
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 8 three months ago

Reuters Recommended Reads
Aug 5 - Greece's Global Ship Lease Q2 revenue rises on higher charter rates
Aug 3 - UK's Clarkson interim revenue rises, helped by elevated freight rates
Aug 4 - Singapore's First Ship Lease Trust H1 profit falls on lower vessel disposal gains

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)