Safe Bulkers: 2Q Earnings Snapshot

MONACO (AP) _ Safe Bulkers Inc. (SB) on Wednesday reported second-quarter net income of $4.1 million, after reporting a loss in the same period a year earlier.

The company said it had profit of 1 cent per share. Earnings, adjusted for non-recurring costs, were 2 cents per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.

The shipping company posted revenue of $47 million in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $45.5 million.

In the final minutes of trading on Wednesday, the company's shares hit $3.44. A year ago, they were trading at $2.63.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SB at https://www.zacks.com/ap/SB