Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced its unaudited financial results for the first quarter of 2025. The company reported net revenues of $64.3 million, a decrease from $71.5 million in the fourth quarter of 2024 and $81.7 million in the first quarter of 2024. Net income for the first quarter of 2025 was $7.2 million, down from $19.4 million in the previous quarter and $25.3 million in the same period of the previous year. Adjusted net income for Q1 2025 stood at $7.8 million, compared to $18.1 million in Q4 2024 and $24.2 million in Q1 2024. The company reported earnings per share of $0.05, with a weighted average number of shares at 105,058,628. EBITDA for the first quarter of 2025 was $28.8 million, a decline from $41.9 million in the previous quarter and $47.9 million in Q1 2024. Additionally, the Board of Directors declared a cash dividend of $0.05 per share of outstanding common stock.
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