Star Bulk Carriers Corp. (SBLK) CEO Petros Pappas on Q2 2020 Results - Earnings Call Transcript

Aug. 07, 2020 9:28 AM ETStar Bulk Carriers Corp. (SBLK) Stock, SBLKZSBLK, SBLKZ
SA Transcripts
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Q2: 2020-08-05 Earnings Summary

EPS of -$0.19 beats by $0.13
 | Revenue of $86.37M (-22.45% Y/Y) misses by $18.50M

Star Bulk Carriers Corp. (NASDAQ:SBLK) Q2 2020 Earnings Conference Call August 6, 2020 11:00 AM ET

Company Participants

Christos Begleris - Co-Chief financial Officer
Nicos Rescos - Chief Operating Officer
Petros Pappas - Chief Executive Officer
Simos Spyrou - Co-Chief financial Officer

Conference Call Participants

Amit Mehrotra - Deutsche Bank
Randy Giveans - Jefferies
J Mintzmyer - Value Investor's Edge

Operator

Thank you for standing by, ladies and gentlemen, and welcome to the Star Bulk Carriers Conference Call on the Second 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, Chief Financial Officer of the company; and Nicos Rescos, Chief Operating Officer. 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, the conference is being recorded today.

We now pass the floor over to your first speaker today, Mr. Pappas. Please go ahead, sir.

Christos Begleris

It's actually Christos Begleris, Co-CFO of Star Bulk Carriers Corp. I would like to welcome you to the Star Bulk Carriers' conference call regarding our financial results for the second 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. Today's presentation will focus on an overview of our second quarter results, our cash evolution during the second quarter, the liquidity enhancing measures that we are undertaking, our operational performance and the industry's fundamentals before opening up for questions.

Let us now turn to Slide number 3 of the presentation for a summary of our second quarter 2020 financial highlights. In the three months ending June 30, 2020, TCE revenues amounted to $97.1 million, 4.8% higher than the $92.7 million for

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