Star Bulk Carriers Corp. (SBLK) shares rose 6.10% in after-hours on Tuesday, November 16, 2021, and closed the daily trading at $19.30. However, in the regular trading session, SBLK’s stock lost 4.61%. SBLK shares have risen 150.90% over the last 12 months, and they have moved down 6.24% in the past week. Over the past three months, the stock has lost 15.08%, while over the past six months, it has declined 19.30%.

Let’s have a look at its recent news.

SBLK latest news

On November 16, 2021, Star Bulk Carriers Corp. (SBLK) announced its unaudited financial and operating results for the third quarter of 2021.

Q3 2021 financial highlights

• SBLK reported total revenue of $415.7 million in the third quarter of 2021 compared to $200.2 million in the third quarter of 2020.
• General and administrative expenses were $12.8 million in Q3 2021, compared to $9.3 million in Q3 2020.
• vessel operating expenses were $54.1 million for Q3 2021 compared to $47.2 million in Q3 2020.
• It earned a net income of $220.4 million, or $2.15 earnings per share, compared to a net income for the third quarter of 2020 of $23.3 million, or $0.24 earnings per share.
• Adjusted EBITDA was $277.8 million for the third quarter of 2021, compared to $79.8 million for the third quarter of 2020.
• As of September 30, 2021, the company had a total cash balance of $371.7 million.

SBLK Dividend Declaration

With the results announcement, on November 16, 2021, the Board of Directors of SBLK declared a quarterly cash dividend of $1.25 per share payable on or about December 22, 2021, to all shareholders of record as of December 10, 2021.

SBLK ESG report

On November 09, 2021, Star Bulk Carriers Corp (SBLK), published its 2020 Environmental, Social, and Governance (ESG) Report which is available on the Company’s website.

Star bulk CEO Mr. Petros Pappas said that this third annual ESG Report strengthens our commitment to lead the way in sustainable dry bulk shipping. He further said that the challenges of the pandemic have further highlighted the need for global cooperation, social cohesion, resilience, and protection of the environment.

Conclusion

The improved financial results which beat the analyst’s estimates were the reason behind its exceptional performance on Tuesday. We can expect it to continue its positive performance on Wednesday as well.