EarningsQ4 2025 Earnings Report
DE:0FF Q4 2025 EPS Results
Actual EPS<€0.01
Consensus EPS<€0.01
Beat/MissBeat by +<€0.01
One Year Ago EPS<€0.01
DE:0FF Q4 2025 Revenue Results
Actual Revenue€20.15M
Expected Revenue€18.49M
Beat/MissBeat by +€1.66M
YoY Revenue Growth+32.32%
Earnings Announcement Details
QuarterQ4 2025
Date02/11/2026
TimeTBA
Conference CallWednesday, February 11, 2026
DE:0FF Upcoming Earnings
2020 Bulkers's next earnings date is estimated for November 25, 2026, based on past reporting schedules.
Q4 2025 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q4 2025 Earnings Slide Deck
No slide deck is available for this earnings event.
Q4 2025 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a largely positive outcome: the company delivered a profitable quarter with strong EBITDA margins, consistent cash generation and dividends, sizable vessel sale agreements with substantial expected net proceeds, and attractive historical returns for shareholders. Negatives include a notable decline in realized net TCE in January versus Q4, outstanding interest-bearing debt and interest costs, and the operational implication that the fleet is being wound down—reducing future operating revenue. Overall, the positives (profitability, cash returns, large sale proceeds and strong IRR) outweigh the negatives (short-term softening in TCE, debt, and transition risks).Company Guidance
Profitable Quarter with Strong Earnings
Net profit of $13.8M and earnings per share of $0.60 in Q4 2025; operating profit $15.8M and EBITDA $16.5M. Operating revenues and other income were $21.4M, implying an EBITDA margin of approximately 77% for the quarter.
High Average Time Charter Rates and TCE
Average gross time charter rate of about $39,300 per day in Q4 2025 and subsequent average net TCE earnings of about $30,800 per day for January 2026, demonstrating continued strong charter market performance (see lowlight for the month-on-quarter change).
Strong Cash Generation and Dividends
Cash flow from operations of $15.5M in the quarter. The company declared total dividends of $0.63 for Oct–Dec 2025 and announced an additional $0.15 dividend for January 2026, reflecting consistent shareholder distributions.
Material Vessel Sale Agreements and Expected Proceeds
Agreements signed to sell Bulk Sao Paulo for $72.75M and Bulk Sydney and Bulk Santos for a combined $145.5M (deliveries in Q1 2026). Management expects net proceeds from the sale of the last vessels to be around $311M after debt repayment.
Strong Historical Investor Returns
Total dividends/distributions declared to date of $251M. Management reports an IRR of 28% p.a. (dollar) since inception and a 31% p.a. return for IPO investors, outperforming comparable indices (S&P 500 ~17% and Oslo ~16% in the same comparison).
Solid Balance Sheet Metrics
Shareholders' equity of $148.4M and cash & cash equivalents reported at $22.1M at quarter end. Interest-bearing debt of $112.5M is non-amortizing until maturity in April 2029, providing cash flow relief in the near term.
DE:0FF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed