Why Star Bulk Carriers Stock Crashed 10% After Earnings
Shares of Star Bulk Carriers (NASDAQ: SBLK) stock tumbled 10% through 11:20 a.m. EDT Thursday after the ocean-going freighter of dry bulk goods reported a titanic increase in earnings for its fiscal first quarter of 2021.
Heading into Q1, analysts had forecast that Star Bulk would earn $0.43 per share on $168.9 million in sales for the quarter. Star Bulk beat that revenue estimate, with sales of $200.5 million, but it missed badly on earnings, bringing in $0.36 per share in profit.
Image source: Getty Images.
Source Fool.com
