What is the market's earnings forecast for EuroDry next quarter?

What were the key takeaways from EuroDry's earnings call?

What factors drove the changes in EuroDry's revenue and profit?

What guidance did EuroDry's management provide for the next earnings period?

What is the revenue and EPS growth rate for EuroDry year over year?

What were the key takeaways from EuroDry’s earnings call?

What is EuroDry's latest dividend and current dividend yield?

Did EuroDry beat or miss consensus estimates last quarter?

- **Q4 Financial Strength**: $17.4M net revenues, $7.5M EBITDA, $1M gain from vessel sale.
- **Strategic Shift**: 4 vessels on index-linked charters, 7 on short-term, hedging via FFAs.
- **Market Resilience**: 2026 rates expected similar to 2025, driven by bauxite trade growth.
- **Debt Management**: $103.7M debt with 2026 repayments, improved cash flow breakeven.
- **Fleet Modernization**: 2 newbuilds due in 2027, considering older vessel sales.

**【CEO Opening Remarks】**
- Q4 2025 net revenues: $17.4 million, net income: $3.2 million, adjusted EBITDA: $7.5 million.
- Vessel sale of MV Panamax for $8.5 million, yielding $1 million gain.
- Fleet renewal strategy: 11 vessels (avg. 14 years old), 2 newbuilds (63,500 DWT) due in 2027.
- Chartering shift: 4 vessels on index-linked rates (115% Baltic Supramax TCE), 7 on short-term (1-3 months).
- Hedging via FFAs: sold 180 days of Supramax TCE for Q1 2026 at $120,12/day.
- Market outlook: 2026 rates similar to 2025, driven by bauxite trade growth (15% of Capesize cargo), but geopolitical risks persist.

**【CFO Financial Commentary】**
- Q4 2025 net revenues +19.9% YoY ($14.5M → $17.4M), EBITDA +300% YoY ($1.85M → $7.55M).
- Full year 2025 net revenues -14.4% YoY ($61.1M → $52.3M) due to fewer vessels and lower rates.
- Debt reduced to $103.7 million (average margin 2%), with $12.2M repayments in 2026.
- Cash flow breakeven: $11,663/day for 2026, below current rates ($16,250/day).
- Net book value per share: $31.8, market value estimate: $48+ per share.

**【Q&A Highlights】**
- **JV Success**: Happy with NRP joint venture, expects more Norwegian deals.
- **Cargo Mix**: Bauxite growing, but no fleet-specific cargo breakdown provided.
- **Fixed Rate Expansion**: 22% 2026 coverage, recent FFA deals at $19,250 (Q2) and $17,250 (Q3).
- **Market Expectations**: 2026 rates may match 2025, but started stronger; coal demand steady.
- **Fleet Renewal**: Considering 2004/2005 vessels for sale, no decisions yet.

EuroDry Ltd.(EDRY)-20260220-2025 Q4 Earnings call transcript

- **Q3 Results**: Net loss of $0.7 million, EBITDA of $4.1 million, with 45% fleet fixed under time charters.
- **Market Outlook**: Panamax rates at $15,125/day, targeting longer-term charters above $15,000/day.
- **Liquidity**: $5.3 million spent on share buybacks; $15 million liquidity improvement from debt refinancing and vessel sale.
- **Fleet Expansion**: 2 Ultramax newbuilds to be delivered in 2027, expanding fleet to 13 vessels.
- **Financial Health**: Cash flow breakeven at $12,000/day, needing $13,000/day to cover commissions.

**【CEO Summary Section】**
- Q3 2025 net loss of $0.7 million ($0.24 per share), with adjusted EBITDA of $4.1 million.
- Vessel Eirini P sold for $8.5 million, reducing fleet to 11 vessels (average age 10.8 years).
- 45% of fleet fixed under time charters for remainder of 2025; 4 vessels on index-linked charters.
- Panamax spot rates rose to $15,500/day by Q3 end, with 1-year TC rates at $15,125/day.
- 2 Ultramax newbuilds scheduled for 2027 delivery, expanding fleet to 13 vessels.
- Share repurchase program extended with $5.3 million spent to date under $10 million plan.

**【CFO Financial Commentary】**
- Q3 2025 net revenues $14.4 million (-2.2% YoY), with adjusted EBITDA up 720% to $4.1 million.
- 9M 2025 net revenues $34.9 million (-25% YoY), adjusted EBITDA $5 million (-34% YoY).
- Total debt $97.9 million as of Q3, with 2025 repayments of $13.1 million completed.
- Cash flow breakeven rate of $12,000/day; need $13,000/day to cover commissions and fees.
- Fleet utilization 100% commercial, 99.3% operational in Q3.
- Vessel operating expenses $7,013/day (up 2.3% YoY).

**【Q&A Key Highlights】**
- Management will seek longer-term charters at rates above $15,000-$16,000/day.
- Vessel Ekaterini fixed for 90-100 days at $16,500/day.
- Liquidity improved with $4.5 million from Yannis Pittas refinancing and $6.5 million from Eirini sale.
- 2027 newbuild debt to total $53 million, with repayments starting in 2027.
- 2026 drydock schedule includes 1 vessel; 2027 includes Starlight and Blessed Luck.
- Fleet secondhand value $214 million (vs. book value $176 million), implying 22% premium.

EuroDry Ltd. (EDRY) Q3 2025 Earnings Call Transcript

- **Q2 Results**: Revenue down 35% YoY to $11.3M; net loss of $3.1M. EBITDA: $1.9M (62% YoY decline).
- **Fleet Strategy**: 25% fleet fixed on time charters; 4 vessels on index-linked charters. 2 newbuilds scheduled for 2027.
- **Market Outlook**: Q3/Q4 seasonal strength expected, but risks from tariffs and geopolitical tensions.
- **Liquidity**: $102M debt; 2025 repayments: $12M. Seeking bank financing for newbuild progress payments.
- **Share Repurchases**: $5.3M executed under $10M program; 39% ownership in 2 vessels.

**【CEO Opening Remarks】**
- Q2 2025 net revenues: $11.3 million (35.3% YoY decline). Net loss: $3.1 million. Adjusted EBITDA: $1.9 million.
- Share repurchase program: $5.3 million executed (total $10 million authorized). 
- ESG progress: 5th annual report highlights sustainability initiatives.
- Chartering strategy: 25% fleet fixed on time charters; 4 vessels on index-linked charters.
- Fleet status: 12 vessels (avg. age 13.6 years); 2 Ultramax newbuilds scheduled for 2027 delivery.
- Market outlook: Seasonal strength in Q3/Q4, but risks from tariffs and geopolitical tensions.

**【CFO Financial Commentary】**
- Q2 2025 financials: Total net revenues down 35.3% YoY; adjusted EBITDA down 62% YoY.
- Debt profile: $102 million outstanding as of Q2; 2025 repayments: $12 million; 2026: $13.3 million; 2027: $20 million.
- Cash flow breakeven: $13,000/day gross rate needed for cash flow neutrality.
- Balance sheet: Book value per share: $32; estimated NAV: $36/share (15% premium to current price).

**【Q&A Highlights】**
- **Market strength**: Q2 spot rates rose 15% YoY, but Q3 early dip due to summer seasonality. Houthi attacks temporarily boosted rates to $13,750/day.
- **Rate locking strategy**: Management aims to fix vessels at $15,000/day+ if rates stabilize. September/October seen as key for long-term contracts.
- **Liquidity**: $6 million unrestricted cash; exploring bank financing for newbuild progress payments.
- **Voyage expenses**: Q2 decline due to time charter equivalent contracts; future expenses tied to ballast bonuses.
- **Newbuilds**: 2 Ultramax vessels ($63.5M each); 2027 delivery. Financing discussions for predelivery installments.

EuroDry (EDRY)-11 Aug 25-2025 Q2 Earnings call transcript

- **Q1 2025 Financials**: Revenue down 36.2% YoY to $9.2M; net loss of $3.7M reflects weak charter rates and fleet reduction.
- **Fleet Strategy**: Modernization underway with 2027 newbuilds; plan to sell 4 oldest vessels over next 18 months.
- **Market Risks**: Geopolitical tensions (U.S. tariffs, Red Sea) and weak demand weigh on Panamax rates ($11,500/day vs. $13,500 historical median).
- **NAV Discount**: Shares trading at ~20% discount to $43.8M NAV, presenting long-term value opportunity.

**【CEO Summary Section】**
- Q1 2025 net revenues: $9.2 million (36.2% YoY decrease). Net loss: $3.7 million ($1.35 per share). Adjusted EBITDA: -$1 million.
- Fleet utilization: 97.4% (vs. 98.1% Q1 2024). 12 vessels operational; 2 Ultramax newbuilds scheduled for 2027 delivery.
- Market outlook: Weak demand, geopolitical tensions (e.g., U.S. tariffs, Red Sea disruptions). 1-year Panamax charter rates at $11,500/day (below historical median of $13,500).
- Strategy: Modernize fleet by selling older vessels; 2025 share buyback program ($5.3M spent to date).

**【CFO Financial Commentary】**
- Q1 2025 financials: Total net revenues down 36.2% YoY to $9.2M. Operating expenses: $7,604/day/vessel (vs. $6,867/day/vessel Q1 2024).
- Debt profile: $105.2M outstanding as of Q1 2025. 2025 repayments: $12.1M; 2026: $13.3M. Senior debt cost: ~6.3% (SOFR + 2.07%).
- Cash flow breakeven: $11,528/day/vessel (vs. $12,963/day/vessel Q1 2024). Requires $12,000/day charter rates to break even.
- NAV: $43.8M (vs. $33M book value). Share price trading at ~20% discount to NAV.

**【Q&A Key Highlights】**
- **OpEx trends**: 2% YoY increase budgeted; Q1 expenses elevated due to timing, but no material deviation expected.
- **Fleet management**: Plan to sell 4 oldest vessels (built 2004-2005) over next 12-18 months. No immediate scrapping candidates.
- **Newbuilds**: 2 Ultramax vessels ($14.4M total 2026 payments). Final 50% payment due at delivery (Q2/Q3 2027).
- **Buybacks**: Limited liquidity constrained Q1 activity. Management remains committed to opportunistic purchases at current levels.
- **Market dynamics**: Red Sea rerouting adds ~10% ton-mile demand. U.S. tariffs could disrupt grain/minor bulk flows.


EuroDry (EDRY)-5 Jun 25-2025 Q1 Earnings call transcript

- **Q4 2024 Results**: Net revenue $14.5M, adjusted EBITDA $4.8M, with $2.8M impairment loss. Fleet age to drop to 13.6 years post-Tasos sale.
- **Market Trends**: Panamax spot rates rebounded 14% YTD, but 2025 dry bulk demand growth at 0.9% amid U.S.-China trade risks.
- **Financial Health**: 2024 net loss of $3.3M, debt at $108M with 2.08% margin over SOFR. 2025 breakeven rate of $11,600/day.
- **Strategic Moves**: $30M loan refinancing, $5.3M share buybacks executed. 2027 Ultramax new builds at $36M each, no scrubbers.

**【CEO Summary Section】**
- **Q4 2024 Financial Highlights**: Total net revenues of $14.5 million, net loss of $3.3 million, and adjusted EBITDA of $4.8 million. A $2.8 million impairment loss was recognized on an older vessel.
- **Fleet Management**: Sold the 2000-built vessel Tasos for $5 million, expecting a $2.1 million gain. Fleet will reduce to 12 vessels post-sale, lowering average age to 13.6 years.
- **Market Outlook**: Spot rates for Panamax vessels rebounded 12-14% from year-end 2024 to early 2025. However, 2025 dry bulk demand growth is projected at 0.9%, driven by China's cautious recovery and U.S. trade policy uncertainties.
- **Strategic Moves**: Refinanced $30 million in vessel loans, adding $11 million to cash reserves. Continued share buybacks under the $10 million program, with $5.3 million executed to date.

**【CFO Financial Commentary】**
- **Q4 2024 Financials**: GAAP net loss of $3.3 million vs. $0.1 million profit in Q4 2023. Adjusted EBITDA declined 27% to $4.8 million (from $6.6 million). Operating expenses per vessel/day decreased 7% to $7,087.
- **2024 Full Year**: Total net revenues up 28.3% to $61.1 million. Adjusted EBITDA of $12.4 million vs. $14.6 million in 2023. Debt stood at $108 million, with an average margin of 2.08% over SOFR.
- **Breakeven Metrics**: Q4 2024 cash flow breakeven rate of $11,529/day, vs. $13,041/day in 2023. 2025 projected breakeven of $11,600/day.

**【Q&A Key Highlights】**
- **New Builds**: 2x 63,000 DWT Ultramax vessels ordered for $36 million each, scheduled for 2027 delivery. No scrubbers installed, focusing on fuel efficiency.
- **Market Sentiment**: CEO cautious on 2025 spot rates but optimistic on potential 2027 recovery. Fleet utilization remains near 100%, with 18% fixed rate coverage for 2025.
- **Acquisition Strategy**: Open to vessel purchases if prices drop another 15% from current levels, targeting 10-year-old ships at $24.5 million (down from $29.5 million peak).

Actual								-0.91	-1.73	0.05	-0.34	0.55	2.76	3.79	4.29	3.3	3.38	1.93	1.18	0.14	-0.48	-0.24	0.7	-1.18	-0.17	-1.42	-0.25	-2.07	-1.1	-0.23	0.87
Forecast								-0.695	-1.15	-0.335	-0.395	0.28	2.04	4.425	4.46	3.035	3.635	1.9	2.685	-0.2533	-0.0167	-0.72	0.445	-0.2294	0.65	-0.165	-0.4175	-1.185	-1.35	-0.5833	0.81
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-30.94%	-50.43%	+114.93%	+13.92%	+96.43%	+35.29%	-14.35%	-3.81%	+8.73%	-7.02%	+1.58%	-56.05%	+155.27%	-2774.25%	+66.67%	+57.30%	-414.39%	-126.15%	-760.61%	+40.12%	-74.68%	+18.52%	+60.57%	+7.41%

EDRY

EDRY fundamentals

EDRY Q4 2025 Earnings

Earnings Call

You can ask Aime

EDRY

EDRY fundamentals

EDRY Q4 2025 Earnings

Earnings Call

EDRY Earnings Call Summary for Q4/20258:00 AM on Feb 20, 2026

EDRY Earnings Call Summary for Q3/202511:30 AM on Nov 13, 2025

EDRY Earnings Call Summary for Q2/202510:00 AM on Aug 11, 2025

EDRY Earnings Call Summary for Q1/202510:00 AM on Jun 5, 2025

EDRY Earnings Call Summary for Q4/20249:00 AM on Feb 24, 2025

You can ask Aime