Eagle Bulk Shipping's (EGLE) CEO Gary Vogel on Q3 2019 Results - Earnings Call Transcript

Eagle Bulk Shipping, Inc. (EGLE) Q3 2019 Earnings Conference Call November 7, 2019 8:00 AM ET

Company Participants

Gary Vogel – Chief Executive Officer
Frank De Costanzo – Chief Financial Officer

Conference Call Participants

Jonathan Chappell – Evercore
Randy Giveans – Jefferies
Chris Snyder – Deutsche Bank

Operator

Greetings and welcome to the Eagle Bulk Shipping Third Quarter 2019 Results Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded.

I would now like to turn the call over to Gary Vogel, Chief Executive Officer; and Frank De Costanzo, Chief Financial Officer of Eagle Bulk Shipping. Mr. Vogel, you may begin.

Gary Vogel

Thank you, and good morning. I’d like to welcome everyone to Eagle Bulk’s third quarter 2019 earnings call. To supplement our remarks today, I encourage participants to access the slide presentation that is available on our website at eagleships.com. Please note that part of our discussion today will include forward-looking statements. These statements are not guarantees of future performance and are inherently subject to risks and uncertainties. You should not place undue reliance on these forward-looking statements. Please refer to our filings with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties that may have a direct bearing on our operating results, our performance and our financial condition.

Our discussion today also includes certain non-GAAP financial measures, including EBITDA, adjusted EBITDA and TCE. Please refer to the appendix in the presentation and our earnings release filed with the Securities and Exchange Commission for more information concerning non-GAAP financial measures and a reconciliation to the most comparable GAAP financial measures. It’s also worth noting that the Baltic Supramax Index or BSI that we will reference throughout the presentation today is basis to BSI-58 Index.

Please now turn to Slide