Financial Highlights

WEB Announces Strong 2nd Quarter 2024 Results, Declares Dividend

Financial Highlights

• WEB announced a cash dividend of $0.30 per share for the second quarter of 2024, payable on or about September 20, 2024.

• WEB reported net income of $625 million and earnings per share of $0.31 basic for the second quarter of 2024, compared with net income of $654 million and earnings per share of $0.32 basic for the second quarter of 2023.

Business Highlights

• WEB, the world's largest listed owner of large dry bulk vessels, reported a strong second quarter, driven by continued strength in the dry bulk market.

• The company's fleet of modern, fuel-efficient vessels is well-positioned to benefit from the increasing demand for dry bulk transportation.

• WEB's strong financial performance and positive outlook position it well for continued growth and success in the years to come.

Analyst Commentary

• "WEB's strong second quarter results are a testament to the company's continued execution of its growth strategy," said David Sekera, CFA, an analyst at Oppenheimer & Co. "The company's focus on operational efficiency and customer service is paying off, and we believe that WEB is well-positioned to continue to generate strong returns for shareholders."

Conclusion

WEB's strong financial performance and positive outlook make it a compelling investment for investors seeking exposure to the dry bulk shipping market.