Scorpio Bulkers Inc (SALT)

[MisterEC]

Scorpio Bulkers' (SALT) CEO Emanuele Lauro on Q2 2016 Results - Earnings Call Transcript
Jul. 27, 2016 3:57 PM ET


Some higlights I picked out

“The second quarter of 2016 is arguably being the quarter of change for Scorpio Bulkers. We believe our balance sheet is now sufficiently strong to take us through at least the end of 2018 and eventually with a few non-equity adjustments, if necessary; this can take us beyond that.
As such the company and management focus has transitioned from balance sheet issues, towards operational matters. We're focusing on efficiency in operations and improving our headline revenue to the market.

Despite the general improvement in the market and despite our balance sheet and cash flows, we're at present trading at a considerable discount to net asset value. We, as management, need to do better in this regard.

Insiders in recent months have significantly increased their shareholding, which in total is now nearly 25% of the company.

As of today, we have $229 million in cash. We have $191 million of payments due on our remaining 10 new buildings. And we have $129 million of available debt….current cash of $229 million. We have available debt of $129 million and less than a $191 million of remaining new builds installments. We have pro forma liquidity of $167 million of runway available for the coming years. And again I think that’s a position we're very comfortable with and we think you can be too.”