Welcome to our dedicated page for Eurodry news (Ticker: EDRY), a resource for investors and traders seeking the latest updates and insights on Eurodry stock.
EuroDry Ltd. reports on its drybulk shipping business as an owner and operator of vessels that carry seaborne drybulk cargoes. Company news commonly covers quarterly results, time charter equivalent rates, vessel employment on spot and period charters, pool agreements, and drybulk market conditions for Panamax, Ultramax, Kamsarmax and Supramax carriers.
Updates also address fleet renewal, vessel sales, debt financing for newbuildings, share repurchases, annual meeting results and the affiliated ship managers responsible for commercial and technical operations. EuroDry was formed in the Marshall Islands in 2018 to separate the drybulk fleet of Euroseas Ltd. into a listed public company on the Nasdaq Capital Market.
EuroDry Ltd. (NASDAQ: EDRY), a drybulk vessel operator and seaborne transportation provider, has announced its upcoming Annual Meeting of Shareholders scheduled for July 23, 2025, at 11:30 a.m. The meeting will be held at Seward & Kissel LLP's offices in Washington, DC.
Shareholders of record as of June 25, 2025 will be eligible to participate and vote at the meeting. The company has made proxy materials, including the annual report on Form 20-F with audited financial statements for FY2024, available on their website. Shareholders can also request hard copies of these materials free of charge.
EuroDry (NASDAQ: EDRY) reported its Q4 and full-year 2024 results. Q4 highlights include total net revenues of $14.5 million and a net loss of $3.3 million ($1.20 loss per share). The company operated an average of 13.0 vessels earning $12,201 per day.
Key developments include orders for two new 63,500 DWT ultramax bulk carriers for $71.8 million, scheduled for delivery in Q2-Q3 2027, and an agreement to sell M/V Tasos for $5 million with an expected gain of $2.1 million.
Full-year 2024 results showed total net revenues of $61.1 million and a net loss of $9.7 million ($3.54 loss per share). The company's adjusted EBITDA was $12.4 million. As of December 31, 2024, outstanding debt was $108.2 million against $11.9 million in cash.
The drybulk market experienced significant challenges in late 2024 and early 2025, with rates dropping to decade-long lows. However, management expects recovery in March and Q2 2025 due to Chinese stimulus packages and seasonal improvements.
EuroDry (NASDAQ: EDRY), a drybulk vessel operator and seaborne transportation provider, has announced it will release its Q4 2024 financial results on February 24, 2025, before the New York market opens. The company will host a conference call and webcast on the same day at 9:00 a.m. Eastern Time to discuss the results.
Participants can join the conference call using US Toll-Free (877 405 1226) or International (201 689 7823) dial-in numbers. A live and archived webcast, along with accompanying slides, will be available on the company's website. The slide presentation will be accessible in PDF format 10 minutes before the conference call at www.eurodry.gr.
EuroDry (NASDAQ: EDRY) has announced the sale of M/V Tasos, a 75,100 dwt Panamax bulk carrier built in 2000, for demolition. The vessel will be sold for approximately $5 million to an unaffiliated third party, with delivery expected between mid-February and mid-March 2025.
The company expects to book a gain of approximately $2.1 million, or about $0.75 per share from this sale. According to CEO Aristides Pittas, the vessel was due for a costly fifth special survey, and its sale will increase near-term liquidity for future investment opportunities.
Following this sale, EuroDry's fleet will consist of 12 operating dry bulk vessels totaling 843,402 dwt, plus 2 Ultramax vessels under construction (127,000 dwt) scheduled for delivery in Q2 and Q3 2027.
EuroDry (NASDAQ: EDRY) has signed a contract with Nantong Xiangyu Shipbuilding for two 63,500 DWT ultramax bulk carriers worth approximately $71.8 million. The eco-friendly vessels, built to EEDI phase 3 design standard, are scheduled for delivery in Q2 and Q3 2027. The acquisition will be financed through debt and equity, expanding EuroDry's Supra/Ultramax segment to eight vessels. The company currently operates a fleet of 13 dry bulk vessels, with these two newbuildings adding to their construction portfolio.
EuroDry reported financial results for Q3 2024, with total net revenues of $14.7 million and a net loss of $4.2 million ($1.53 per share). The company operated an average of 13.0 vessels during Q3 2024, earning an average time charter rate of $13,105 per day. Four vessels completed special surveys with drydocking at a total cost of $4.5 million. The company refinanced two loans involving four vessels, drawing approximately $16 million additional funds. For the nine-month period, total net revenues were $46.6 million with a net loss of $6.4 million. The company continues its share repurchase plan, having used $5.0 million to repurchase 314,337 shares to date.
EuroDry (NASDAQ: EDRY), a drybulk vessel operator and seaborne transportation provider, has scheduled the release of its third quarter 2024 financial results for November 19, 2024, before the New York market opens. The company will host a conference call and webcast at 10:00 a.m. Eastern Time on the same day to discuss the results. Participants can join via phone using US Toll-Free (877 405 1226) or International numbers (+1 201 689 7823), or through the company's website webcast. A slide presentation will be available on the company's website 10 minutes before the conference call.
EuroDry (NASDAQ: EDRY), a drybulk vessel owner and operator, has announced its participation in Noble Capital Markets' Basic Industries Emerging Growth Virtual Equity Conference. The company's CFO, Dr. Tasos Aslidis, will present on September 25, 2024, at 3:30pm EDT. The presentation will include a fireside Q&A session open to the virtual audience.
Registered, qualified investors can schedule one-on-one meetings with company executives. The presentation will be available for viewing through free registration. A video webcast will be accessible on EuroDry's website and Channelchek.com for 90 days following the event.