2020 Bulkers Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Revenue	63.1	71.7	69.7	76.1	113.8
Other Revenue	1.8	42.4	1.1	-	-
Revenue	64.9	114.1	70.8	76.1	113.8
Revenue Growth (YoY)	-43.12%	61.16%	-6.97%	-33.13%	132.72%
Cost of Revenue	16.1	17	20.3	19.7	19.1
Gross Profit	48.8	97.1	50.5	56.4	94.7
Selling, General & Admin	4.2	3.9	3.4	4.4	3.3
Other Operating Expenses	-	-	-	-1.2	-2.1
Operating Expenses	12.1	13.4	15	14.9	12.9
Operating Income	36.7	83.7	35.5	41.5	81.8
Interest Expense	-7.6	-6.8	-11.2	-9.4	-9.5
Other Non Operating Income (Expenses)	0.4	0.1	0.6	-0.1	-0.1
EBT Excluding Unusual Items	29.5	77	24.9	32	72.2
Other Unusual Items	-	-	-	-	-1.4
Pretax Income	29.5	77	27.1	32	70.8
Income Tax Expense	0.1	0.7	1.5	0.1	-
Earnings From Continuing Operations	29.4	76.3	25.6	31.9	70.8
Minority Interest in Earnings	0.1	-	-	-	-
Net Income	29.5	76.3	25.6	31.9	70.8
Net Income to Common	29.5	76.3	25.6	31.9	70.8
Net Income Growth	-61.34%	198.05%	-19.75%	-54.94%	537.84%
Shares Outstanding (Basic)	23	23	23	22	22
Shares Outstanding (Diluted)	23	23	23	23	23
Shares Change (YoY)	0.01%	1.33%	0.24%	-0.16%	1.74%
EPS (Basic)	1.29	3.34	1.13	1.44	3.19
EPS (Diluted)	1.29	3.34	1.13	1.42	3.14
EPS Growth	-61.34%	195.23%	-20.42%	-54.78%	528.00%
Free Cash Flow	34.5	42.1	41.2	42.3	83.5
Free Cash Flow Per Share	1.51	1.84	1.82	1.88	3.70
Dividend Per Share	1.640	1.740	0.370	1.350	3.180
Dividend Growth	-5.75%	370.27%	-72.59%	-57.55%	960.00%
Gross Margin	75.19%	85.10%	71.33%	74.11%	83.22%
Operating Margin	56.55%	73.36%	50.14%	54.53%	71.88%
Profit Margin	45.45%	66.87%	36.16%	41.92%	62.21%
Free Cash Flow Margin	53.16%	36.90%	58.19%	55.58%	73.37%
EBITDA	44.6	93.2	47.1	53.2	93.5
EBITDA Margin	68.72%	81.68%	66.53%	69.91%	82.16%
D&A For EBITDA	7.9	9.5	11.6	11.7	11.7
EBIT	36.7	83.7	35.5	41.5	81.8
EBIT Margin	56.55%	73.36%	50.14%	54.53%	71.88%
Effective Tax Rate	0.34%	0.91%	5.54%	0.31%	-
Revenue as Reported	64.9	114.1	73	77.3	115.9

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.