The consumer price index rose its fastest since 1981, with an 8.5% jump in March. Supply chain issues and labor shortages continue to push prices higher.
The producer price index has risen 11.2% over the past year with the costs of energy, food and metals climbing.
Transportation and warehousing prices have also increased by an annual 5.5%.
Star Bulk Carriers (SBLK) provides ocean transportation of dry bulk cargoes worldwide. Its fleet of 128 vessels can ship about 14.1 million deadweight tons of products.
By the numbers: SBLK delivered an earnings beat in the last quarter.
It reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.52 by 17.4%.
The company had a net margin of 47.67% and a return on equity of 37.79%.
Star Bulk Carriers reported $499.86 million in revenue, exceeding the expected revenue by 13.4%.
Wall Street analysts are forecasting a +18.57% increase over the next twelve months and SBLK was recently upgraded to Buy.
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