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 (NASDAQ: EDRY) reported results for Q2 2024, highlighting a 68.6% increase in total net revenues to $17.4 million compared to Q2 2023. Despite this, the company experienced a net loss of $0.41 million or $0.15 per share. Adjusted net loss was $0.45 million or $0.17 per share, with adjusted EBITDA reaching $5.0 million.
For the first half of 2024, total net revenues were $31.9 million, a 46.9% increase compared to H1 2023. The net loss for this period was $2.2 million or $0.81 per share. Adjusted net loss was $3.7 million or $1.35 per share, with adjusted EBITDA at $7.1 million. The average time charter equivalent rate was $13,452/day for H1 2024.
The company’s fleet utilization improved, reaching 99.0% for Q2 and 98.5% for H1 2024. EuroDry extended its $10 million share repurchase program and has utilized $5.0 million to repurchase 313,318 shares. The company also published its 2023 Sustainability Report.
EuroDry (NASDAQ: EDRY), a drybulk vessel operator, has announced the release date for its second quarter 2024 financial results. The company will disclose its results on August 8, 2024, before the New York market opens. Following this, EuroDry's management will host a conference call and webcast at 10:00 a.m. Eastern Time to discuss the results.
Participants can join the call using US Toll-Free (877 405 1226) or International (201 689 7823) dial-in numbers. The conference ID is 13748278. An audio webcast and slide presentation will be available on the company's website. The Q2 2024 slide presentation in PDF format will be accessible 10 minutes before the call on www.eurodry.gr.
On May 21, 2024, EuroDry (NASDAQ: EDRY) reported its financial results for Q1 2024. The company achieved net revenues of $14.4 million, a 27.2% increase from Q1 2023. However, the net loss attributable to controlling shareholders was $1.8 million ($0.65 per share), while the adjusted net loss stood at $3.2 million ($1.18 per share). The EBITDA was $2.1 million. An average of 13 vessels operated, with an average time charter equivalent rate of $12,455 per day. Notably, vessel operating expenses rose to $6.2 million due to an increased fleet size. The company also repurchased 299,646 shares worth $4.7 million under its share repurchase plan.
EuroDry (NASDAQ: EDRY), a drybulk vessel operator, will release its Q1 2024 financial results on May 21, 2024, before the New York market opens. The company will also host a conference call and webcast at 10:30 a.m. ET to discuss the results. Participants can dial in using toll-free or international numbers, or use the 'call me' option for faster connection. The webcast and accompanying slides will be available on the company's website both live and archived. The slides, in PDF format, will be accessible 10 minutes before the webcast starts.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.