Safe Bulkers, Inc. Q3 2026 Earnings Recap

Safe Bulkers’ shares rose 8.6% after earnings, as adjusted EPS more than doubled year over year to EUR 0.31 and the company raised its quarterly dividend to $0.09. The call also highlighted stronger charter-market conditions and a balance sheet with substantial liquidity.

Key Takeaways

• Adjusted EPS was EUR 0.31 in Q3 2026, more than double the same period in 2025.
• The board declared a quarterly dividend of $0.09 per common share, the company’s 25th consecutive quarterly dividend.
• Cash, cash equivalents, bank time deposits and restricted cash totaled $319 million; another $196 million was available under revolving credit facilities.
• The fleet comprises 46 vessels, with eight newbuilds on order for delivery through 2029; average fleet age is 9.8 years.
• Dry-bulk fleet supply is forecast to grow 3%–4% in 2026 if the Strait of Hormuz is closed, versus 4%–5% if it is open.