Star Bulk Carriers Corp’s shares reached a 52-week high of $31.03 on Tuesday, extending a rally that has delivered a 60.37% gain over the past year.
The dry bulk shipping company reported second-quarter 2026 adjusted earnings of $1.21 per share, topping the $0.98 estimate, while revenue totaled $357.41 million, exceeding the $280.98 million forecast. Operating cash flow for the period amounted to $150 million, with ending cash of $565 million.
Net income for the quarter stood at $144.9 million, with adjusted net income at $134.8 million. The company declared a $0.09 per share dividend, aligning with its policy of distributing full operating cash flow subject to minimum cash requirements. The current dividend yield is 11.73%.
Management highlighted continued benefits from low operating costs and a modernizing fleet, though it noted caution around acquisitions given elevated vessel prices. Equity financing may be considered if stock strength persists.
The stock’s performance follows a broader rally in the dry bulk shipping sector, supported by strong freight rates and disciplined fleet management. Analysts at InvestingPro flagged the shares as undervalued, citing a perfect Piotroski Score of 9.
