Star Bulk Carriers Corp. (NASDAQ:SBLK) Q1 2020 Earnings Conference Call May 27, 2020 11:00 AM ET
Company Participants
Petros Pappas - Chief Executive Officer
Hamish Norton - President
Christos Begleris - Co-Chief financial Officer
Simos Spyrou - Co-Chief financial Officer
Constantinos Simantiras - Head, Market Research
Conference Call Participants
Amit Mehrotra - Deutsche Bank
Randy Giveans - Jefferies
Ben Nolan - Stifel
J Mintzmyer - Value Investor
Operator
Ladies and gentlemen, thank you for standing by. And welcome to the Star Bulk Carriers Conference Call on the First Quarter 2020 Financial Results. We have with us Mr. Petros Pappas, Chief Executive Officer; Mr. Hamish Norton, President; Mr. Simos Spyrou and Mr. Christos Begleris, Co-Chief financial Officers of the company. At this time, all participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. [Operator Instructions] I must advise you that this conference is being recorded today.
We now pass the floor to one of your speakers, Simos Spyrou. Please go ahead, sir.
Simos Spyrou
I would like to welcome you to the Star Bulk Carriers conference call regarding our financial results for the first quarter of 2020.
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 first quarter 2020 financial highlights. In the three months ending March 31, 2020, TCE revenues amounted to $100.3 million, 3.7% lower than the $104.2 million for the same period in 2019.
Adjusted EBITDA for the first quarter 2020 was $32.6 million versus $43.9 million in the first quarter of 2019. Adjusted net loss for the first quarter amounted to $22.2 million, or $0.23 loss per share versus $8.5 million adjusted net loss or $0.09 loss
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