Quarterly ResultMay 21, 2026, 07:12 AM
Euroseas Q1 Net Income $32.5M, EPS $4.67; Declares $0.80 Dividend
AI Summary
Euroseas Ltd. announced strong financial results for the first quarter of 2026, with net revenues of $55.8 million and net income of $32.5 million, or $4.67 basic earnings per share. The company declared a quarterly dividend of $0.80 per share, an increase of 6.7%, and approved the continuation of its share repurchase plan. Additionally, Euroseas formed a joint venture with NRP Investors for a new 4,484 TEU vessel, M/V Thrylos, with NRP acquiring a 49% ownership interest for approximately $12.2 million.
Key Highlights
- Formed joint venture for M/V Thrylos; NRP Investors acquire 49% for $12.2 million.
- Q1 2026 net revenues were $55.8 million.
- Q1 2026 net income was $32.5 million.
- Q1 2026 basic earnings per share was $4.67.
- Declared a quarterly dividend of $0.80 per share.
- Repurchased 480,460 common shares for $11.36 million (6.8% of outstanding).
- Adjusted EBITDA for Q1 2026 was $40.9 million.
- Average time charter equivalent rate was $30,354 per day.
Price Impact
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