Q1 2019 Star Bulk Carriers Corp Earnings Call Transcript
Thank you, operator. I'm Simos Spyrou, Co-Chief Financial Officer of Star Bulk Carriers, and I would like to welcome you to Star Bulk Carriers conference call regarding our financial results for the first quarter of 2019.
Before we begin, I kindly ask you to take a moment to read the safe harbor statement on Slide #2 of our presentation.
Let us now turn to Slide #3 of the presentation for a summary of our first quarter 2019 financial highlights. In the 3 months ending March 31, 2019, TCE revenues amounted to $99 million, 21.3% higher than the $81.6 million for the same period in 2018.
Adjusted EBITDA for the first quarter 2019 was $43.9 million versus $46.4 million in the first quarter of 2018. Adjusted net loss for the first quarter amounted to $8.5 million or $0.09 loss per share versus $11.9 million adjusted net income or $0.18 gain per share in Q1 2018.
Our Time Charter Equivalent Rate during this quarter was a $10,624 per day. And if we include the realized profit from freight and bunker hedging, our Time Charter
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