Quarterly ResultAug 6, 2026, 07:34 AM
EuroDry Q2 Net Income $6.6M, EPS $2.36; Refinances Debt
AI Summary
EuroDry Ltd. reported its strongest quarter in four years for Q2 2026, with net revenues increasing 57.0% to $17.7 million and net income attributable to controlling shareholders reaching $6.6 million, or $2.36 EPS. For the first half of 2026, net revenues rose 48.8% to $30.5 million, with net income attributable to controlling shareholders at $6.8 million, or $2.45 EPS. The company also announced the continuation of its share repurchase plan and signed a term sheet to refinance the M/V “Ekaterini” with a loan of up to $19 million. Management expressed optimism about the drybulk market's strengthening, with rates reaching 2022 levels and a positive outlook for 2026 and 2027.
Key Highlights
- Q2 2026 net income attributable to controlling shareholders was $6.6 million.
- Q2 2026 basic EPS was $2.36, up from a $1.12 loss in Q2 2025.
- Q2 2026 net revenues increased 57.0% to $17.7 million.
- Q2 2026 Adjusted EBITDA was $11.7 million, up from $1.9 million in Q2 2025.
- H1 2026 net income attributable to controlling shareholders was $6.8 million.
- H1 2026 net revenues increased 48.8% to $30.5 million.
- Refinancing term sheet signed for M/V “Ekaterini” for up to $19 million.
- Share repurchase plan continued for another year; $5.8 million used to date.
Price Impact
More from EDRY