Euroseas Stock Price, News & Analysis

Euroseas Ltd. (NASDAQ: ESEA) will announce its fourth quarter financial results for 2020 on February 24, 2021, post-market closure. A subsequent conference call is scheduled for February 25, 2021, at 9:00 a.m. ET, where management will discuss these results. Participants can join by dialing the provided numbers or through an audio webcast on Euroseas’ website. The company, established in 2005, operates a fleet of 14 container vessels with a total cargo capacity of 42,281 TEU, focusing on spot and period charters.

Euroseas Ltd. (NASDAQ: ESEA) announced that Chief Financial Officer Tasos Aslidis will present at Noble Capital Markets’ Seventeenth Annual Investor Virtual Conference on January 20, 2021, at 5:15 pm EST. A high-definition video webcast of the presentation will be available on the company's website the day after the event. Euroseas operates a fleet of 14 container vessels, including feeder and intermediate carriers, with a total cargo capacity of 42,281 TEU. The company emphasizes its commitment to the container shipping market and strategic growth plans.

Euroseas Ltd. (NASDAQ: ESEA) announced the extension of the charter for its container vessel M/V “Synergy Antwerp,” built in 2008, for 32 to 35 months at a daily rate of $18,000 starting January 1, 2021. This charter, expected to generate approximately $3.8 million in EBITDA annually, totals over $10 million for its duration. The extension reflects a strong market for container carriers. Euroseas anticipates significant profitability growth as seven vessels have expiring charters in early 2021, with potential for increased dividend payments to shareholders.

Euroseas Ltd. (NASDAQ: ESEA) announced the extension and new time charter contracts for three container vessels. M/V “EM Astoria” will be chartered at $18,650/day for 12-14 months starting December 15, 2020. M/V “Evridiki G” will be at $15,500/day for 12-13 months from December 5, 2020, while M/V “Aegean Express” will be at $11,500/day for 15-16 months beginning December 27, 2020. Additionally, an affiliate of the CEO converted a $1.875 million loan into 702,247 shares. These charters are expected to generate $7.5 million in EBITDA for 2021, significantly higher than last year.

Euroseas Ltd. (NASDAQ: ESEA) reported its Q3 2020 results, revealing net revenues of $12.3 million, a 19.7% increase from Q3 2019. Net income reached $0.2 million, while net income attributable to common shareholders was $0.03 million. The average time charter equivalent rate decreased to $8,403 per day. For the first nine months of 2020, total net revenues stood at $41.3 million, a 54.5% rise year-over-year. Operating expenses rose largely due to increased crewing costs from COVID-19 restrictions. The company remains optimistic about future charter rate developments.

Euroseas Ltd. (NASDAQ: ESEA) announced the extension of a time charter for its container vessel, C/V 'Akinada Bridge', for 12 to 13 months at a daily rate of $17,250, starting October 30, 2020. Additionally, the C/V 'Synergy Oakland' charter was extended for 8-12 months, with rates tied to the Contex-4,250 index, currently at $15,369. Euroseas also sold the C/V 'Ninos' for approximately $2.36 million, reducing its fleet to 15 vessels with a total capacity of 44,787 teu. The company expresses cautious optimism about the containership market amid economic uncertainties.

Euroseas Ltd. (NASDAQ: ESEA) reported robust financial performance for Q2 2020, with net revenues of $13.5 million, a 67.2% increase year-over-year, and net income of $1.3 million compared to a net loss of $0.7 million in Q2 2019. The company operated an average of 19 vessels, significantly up from 11 vessels in the same quarter last year. Adjusted EBITDA soared to $4.4 million from $1.6 million. Despite challenges from the pandemic, Euroseas projects a recovering charter market. The company also deferred loan repayments totaling $4.7 million to maintain liquidity.

Euroseas Ltd. (NASDAQ: ESEA) announced it will release its financial results for the second quarter ending June 30, 2020, on August 11, 2020, after market close in New York. A conference call will take place on August 12, 2020, at 10:00 a.m. Eastern Time, where management will discuss the results. Participants can join via specific dial-in details and access a telephonic replay until August 18, 2020. Additionally, an audio webcast will be available on the company’s website, along with a PDF slide presentation for attendees.

Euroseas Ltd. (NASDAQ: ESEA), a container carrier vessel operator, will release its financial results for Q1 2020 on May 27, 2020, before the market opens. A conference call to discuss the results will take place the same day at 9:00 a.m. ET. Participants can join via US Toll Free Dial In at 1 (877) 553-9962. A telephonic replay will be available until June 3, 2020. The company operates a fleet of 19 vessels with a total cargo capacity of 51,083 teu, managed by its affiliated company, Eurobulk Ltd.