Star Bulk Carriers Corp. (SBLK) CEO Petros Pappas on Q3 2019 Results - Earnings Call Transcript

Star Bulk Carriers Corp. (NASDAQ:SBLK) Q3 2019 Results Conference Call November 21, 2019 11:00 AM ET

Company Participants

Petros Pappas - Chief Executive Officer
Hamish Norton - President
Simos Spyrou - Co-Chief Financial Officer
Christos Begleris - Co-Chief Financial Officer
Nicos Rescos - Chief Operating Officer
Charis Plakantonaki - Chief Strategy Officer

Conference Call Participants

Amit Mehrotra - Deutsche Bank
Chris Robertson - Jefferies
Ben Nolan - Stifel

Operator

Thank you for standing by, ladies and gentlemen, and welcome to the Star Bulk Carriers Conference Call on Third Quarter 2019 Financial Results. We have with us Mr. Petros Pappas, Chief Executive Officer; Mr. Hamish Norton, President; Simos Spyrou and Mr. Christos Begleris, Co-Chief Financial Officers of the company and Nicos Rescos, Chief Operating Officer of the company. At this time, all participants are in a listen only mode. There'll be a presentation followed by a questions and answer session [Operator Instructions]. I must advise you that this conference is being recorded today.

And we now pass the floor to one of your speakers today, Mr. Spyrou. Please go ahead, sir.

Simos Spyrou

Thank you, operator. I'm Simos Spyrou, Co-Chief Financial Officer of Star Bulk Carriers. And I would like to welcome you to the Star Bulk Carriers' conference call regarding our financial results for the third quarter of 2019. Before we begin, I kindly ask you to take a moment to read the Safe Harbor statement on Slide Number 2 of our presentation.

Let us now turn to Slide Number 3 of the presentation for a summary of our third quarter 2019 financial highlights. In the three months ending September 30, 2019, TCE revenues amounted to $131.3 million, 1.6% higher than the $129.2 million for the same period in 2018.

Adjusted EBITDA for the third quarter 2019 was $72.2 million versus $80.1