2020 Bulkers Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	55.5	71.7	69.7	76.1	113.8	48.9
Other Revenue	1.6	42.4	1.1	-	-	-
Revenue	57.1	114.1	70.8	76.1	113.8	48.9
Revenue Growth (YoY)	-54.43%	61.16%	-6.97%	-33.13%	132.72%	437.36%
Cost of Revenue	16.5	17	20.3	19.7	19.1	13.9
Gross Profit	40.6	97.1	50.5	56.4	94.7	35
Selling, General & Admin	4	3.9	3.4	4.4	3.3	3.5
Other Operating Expenses	-	-	-	-1.2	-2.1	-
Operating Expenses	13.5	13.4	15	14.9	12.9	13.4
Operating Income	27.1	83.7	35.5	41.5	81.8	21.6
Interest Expense	-7.8	-6.8	-11.2	-9.4	-9.5	-9.6
Other Non Operating Income (Expenses)	1.8	0.1	0.6	-0.1	-0.1	-0.4
EBT Excluding Unusual Items	21.1	77	24.9	32	72.2	11.6
Other Unusual Items	-	-	-	-	-1.4	-0.5
Pretax Income	21.1	77	27.1	32	70.8	11.1
Income Tax Expense	0.2	0.7	1.5	0.1	-	-
Net Income	20.8	76.3	25.6	31.9	70.8	11.1
Net Income to Common	20.8	76.3	25.6	31.9	70.8	11.1
Net Income Growth	-75.81%	198.05%	-19.75%	-54.94%	537.84%	-
Shares Outstanding (Basic)	23	23	23	22	22	22
Shares Outstanding (Diluted)	23	23	23	23	23	22
Shares Change (YoY)	0.14%	1.33%	0.24%	-0.16%	1.74%	17.13%
EPS (Basic)	0.91	3.34	1.13	1.44	3.19	0.50
EPS (Diluted)	0.91	3.34	1.13	1.42	3.14	0.50
EPS Growth	-75.79%	195.23%	-20.42%	-54.78%	528.00%	-
Free Cash Flow	27.7	44.7	41.2	42.3	83.5	-102.2
Free Cash Flow Per Share	1.21	1.95	1.82	1.88	3.70	-4.61
Dividend Per Share	1.350	1.740	0.370	1.350	3.180	0.300
Dividend Growth	-23.73%	370.27%	-72.59%	-57.55%	960.00%	122.22%
Gross Margin	71.10%	85.10%	71.33%	74.11%	83.22%	71.58%
Operating Margin	47.46%	73.36%	50.14%	54.53%	71.88%	44.17%
Profit Margin	36.43%	66.87%	36.16%	41.92%	62.21%	22.70%
Free Cash Flow Margin	48.51%	39.18%	58.19%	55.58%	73.37%	-209.00%
EBITDA	36.6	93.2	47.1	53.2	93.5	31.5
EBITDA Margin	64.10%	81.68%	66.53%	69.91%	82.16%	64.42%
D&A For EBITDA	9.5	9.5	11.6	11.7	11.7	9.9
EBIT	27.1	83.7	35.5	41.5	81.8	21.6
EBIT Margin	47.46%	73.36%	50.14%	54.53%	71.88%	44.17%
Effective Tax Rate	0.95%	0.91%	5.54%	0.31%	-	-
Revenue as Reported	58.3	114.1	73	77.3	115.9	48.9

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.