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

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

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

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

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

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

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

What is Euroholdings's gross profit margin?

- **Q3 Financial Strength**: $2.96M revenue, $1.5M net income, 8% dividend yield, and $10.73/share NAV.
- **Strategic Expansion**: $31.8M tanker acquisition positions for $23.75K/day tanker rates, while feeder ships maintain $28.7K/day rates.
- **Operational Efficiency**: Container ships break-even at $9.5K/day, tankers at $14.6K/day, ensuring cash flow resilience.
- **Growth Catalysts**: Spot market utilization of new tanker, potential charter extensions, and disciplined capital allocation.

**【Management Opening Remarks】**
- Euroholdings reported Q3 2025 net revenues of $2.96 million and net income of $1.5 million, with a dividend of $0.14 per share (8% annualized yield). 
- The company completed the acquisition of the medium-range product tanker Hellas Avatar for $31.83 million, financed via $20 million from Piraeus Bank and internal funds.
- Strategic shift to tankers continues alongside profitable feeder container ship operations (Aegean Express and Joanna under charters until mid-2026). 

**【CEO & Strategy Officer Market Overview】**
- Medium-range tanker rates stable at $23,750/day (1-year) and $21,000/day (3-year), above 5-year averages.
- Tanker fleet aging (46% over 15 years) and limited newbuilding (3M DWT/yr) support supply constraints.
- Feeder container ship rates at $28,700/day (1,700 TEU) vs 10-year average of $16,800/day, driven by undersupply (10% newbuilding, 20% >20yr old). 

**【CFO Financial Highlights】**
- Q3 2025: Adjusted EBITDA $1.44M, net income $1.5M, EPS $0.55.
- Container ship cash break-even $9,500/day; tanker EBITDA break-even $9,316/day, total cash break-even $14,600/day.
- Balance sheet: $17.5M cash, $3.6M vessel book value, $19M equity, $30.2M NAV ($10.73/share). 

**【Q&A Highlights】**
- Joanna charter extension negotiations for 2026 at current rate levels (~$19,000/day). 
- Hellas Avatar to operate in spot market initially, with potential longer-term charter depending on market.
- Vessel maintenance for Aegean Express scheduled for end-2025, enabling operation until 2027 special survey.
- Tanker acquisition market stable, with prices 17-24% below 2024 peaks, providing entry point for future growth.

Euroholdings Ltd (EHLD) Q3 2025 Earnings Call Transcript

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