EuroDry Ltd
NASDAQ:EDRY

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EuroDry Ltd
NASDAQ:EDRY
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Price: 19.87 USD 6.26%
Market Cap: $56.2m

EuroDry Ltd
Investor Relations

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.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Feb 20, 2026
AI Summary
Q4 2025

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.

Key Financials
Revenue
$17.4 million
Net Income Attributable to Shareholders
$3.2 million
Earnings Per Share (Diluted)
$1.14
Adjusted Net Income Attributable to Shareholders
$2.4 million
Adjusted Earnings Per Share (Diluted)
$0.87
Adjusted EBITDA
$7.55 million
Gain on Sale of Vessel
$1 million
Commercial Utilization Rate (Q4)
100%
Operational Utilization Rate (Q4)
99.6%
Time Charter Equivalent Rate (Q4)
$16,250 per day
Operating Expenses per Vessel per Day (Q4)
$7,869
Cash Flow Breakeven Rate (Q4)
$13,231 per day
Debt
$103.7 million
Shareholders' Equity
$93 million
Net Book Value Per Share
$31.8
Net Asset Value Per Share (estimated)
over $48
Cash and Other Assets
$31.8 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Aristides J. Pittas
Chairman, President & CEO
No Bio Available
Dr. Anastasios Aslidis
CFO, Treasurer & Director
No Bio Available
Mr. Symeon Pariaros
Chief Administrative Officer
No Bio Available
Ms. Stephania Karmiri
Secretary
No Bio Available

Contacts

Address
ATTIKI
ATHINA
4 Messogiou & Evropis Street
Contacts
+302111804006.0
www.eurodry.gr
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