Euroseas Ltd
NASDAQ:ESEA
Euroseas Ltd
Euroseas Ltd. is a holding company, which engages in the provision of ocean-going transportation services. The company is headquartered in Athina, Attiki. The company went IPO on 2006-03-28. The firm is an owner and operator of drybulk and container carrier vessels and is a provider of seaborne transportation for drybulk and containerized cargoes. Eurobulk Ltd. manages the Company's operations. The firm also owns and operates dry bulk carriers that transport major bulks, such as iron ore, coal and grains, and minor bulks, such as bauxite, phosphate and fertilizers. The firm has a fleet of 12 vessels, including Kamsarmax drybulk carrier, Panamax drybulk carriers and Handymax drybulk carrier, Intermediate containerships, Handysize containerships, and Feeder containerships. The Company’s five drybulk carriers have a total cargo capacity of 351,272 deadweight tons (dwt), and its seven containerships have a cargo capacity of 11,828 twenty-foot equivalent units (teu).
Euroseas Ltd. is a holding company, which engages in the provision of ocean-going transportation services. The company is headquartered in Athina, Attiki. The company went IPO on 2006-03-28. The firm is an owner and operator of drybulk and container carrier vessels and is a provider of seaborne transportation for drybulk and containerized cargoes. Eurobulk Ltd. manages the Company's operations. The firm also owns and operates dry bulk carriers that transport major bulks, such as iron ore, coal and grains, and minor bulks, such as bauxite, phosphate and fertilizers. The firm has a fleet of 12 vessels, including Kamsarmax drybulk carrier, Panamax drybulk carriers and Handymax drybulk carrier, Intermediate containerships, Handysize containerships, and Feeder containerships. The Company’s five drybulk carriers have a total cargo capacity of 351,272 deadweight tons (dwt), and its seven containerships have a cargo capacity of 11,828 twenty-foot equivalent units (teu).
Revenue Growth: Euroseas reported Q3 2025 net revenue of $56.9 million, up 5.1% year-on-year, driven by higher charter rates.
Earnings: Net income for the quarter was $29.7 million, rising from $27.6 million last year. Diluted EPS was $4.25, compared to $3.95 for Q3 2024.
Dividend: The Board declared a quarterly dividend of $0.70 per share, maintaining its payout.
Fleet Expansion: Four newbuild vessels were chartered for multi-year periods at strong rates, with deliveries expected in 2027 and 2028.
Contract Coverage: The company has secured 100% of vessel days for Q1 2025, 75% for 2026, and over half for 2027 at attractive average rates, ensuring high earnings visibility.
Market Conditions: Charter rates remain elevated, but management expects potential rate pressure from 2027 onward as new vessel deliveries increase.
Financial Position: The company is well-capitalized, sitting on $126.4 million in cash, and maintains leverage around 50%.
