EuroDry Ltd
NASDAQ:EDRY
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EuroDry Ltd
NASDAQ:EDRY
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EuroDry Ltd
Eurodry Ltd. engages in the provision of ocean-going transportation services. The company is headquartered in Athina, Attiki. The company went IPO on 2018-05-24. The firm's operations are managed by Eurobulk Ltd an affiliated ship management company and Eurobulk (Far East) Ltd. Inc, which are responsible for the day-to-day commercial and technical management and operations of the vessels. EuroDry Ltd employs its vessels on spot and period charters and through pool arrangements. The firm has a fleet of more than five vessels, including Kamsarmax drybulk carriers, Panamax drybulk carriers and an Ultramax drybulk carrier with a total cargo capacity of approximately 400,000 deadweight tonnage (dwt). The firm's subsidiaries are: Kamsarmax One Shipping Ltd, Kamsarmax Two Shipping Ltd and Eirini Shipping Ltd, among others.
Eurodry Ltd. engages in the provision of ocean-going transportation services. The company is headquartered in Athina, Attiki. The company went IPO on 2018-05-24. The firm's operations are managed by Eurobulk Ltd an affiliated ship management company and Eurobulk (Far East) Ltd. Inc, which are responsible for the day-to-day commercial and technical management and operations of the vessels. EuroDry Ltd employs its vessels on spot and period charters and through pool arrangements. The firm has a fleet of more than five vessels, including Kamsarmax drybulk carriers, Panamax drybulk carriers and an Ultramax drybulk carrier with a total cargo capacity of approximately 400,000 deadweight tonnage (dwt). The firm's subsidiaries are: Kamsarmax One Shipping Ltd, Kamsarmax Two Shipping Ltd and Eirini Shipping Ltd, among others.
Q4 Profitability: EuroDry reported net income attributable to shareholders of $3.2 million for Q4 2025, reversing a loss from the prior year.
Revenue Growth: Q4 2025 net revenues rose 19.9% year-over-year to $17.4 million, driven by higher charter rates.
Cash Flow Strength: Adjusted EBITDA soared, reaching $7.55 million in Q4 2025—over three times the level of the previous year.
Fleet Modernization: The company sold an older vessel for $8.5 million and plans further fleet renewal, with two newbuildings set for delivery in 2027.
Charter Strategy: Management is shifting to increase fixed-rate coverage, with 22% of 2026 revenue covered and plans to add more long-term charters if the market stays strong.
Market Outlook: While 2026 began stronger than expected, management described the rate environment as volatile and hard to predict due to macro and geopolitical uncertainties.
Balance Sheet: Shareholder equity stands at about $93 million, with net asset value per share estimated above $48 versus a recent share price around $17.
