Scorpio Bulkers should return to profitability later this year, thanks to an expected upturn in free cash flow, according to analysts.
Evercore ISI analyst John Chappell said the Emanuele Lauro-led bulker owner should come into the black with the estimated cash ramp-up of $28m this year and $104m in 2019, providing better financial freedom.
"SALT operates the most modern fleet in the industry, has significant scale, has a strong capital structure and has already returned to pre-crisis debt amortisation while also re-initiating a dividend," he wrote in a note to clients.
