Eurodry ( (EDRY) ) has released its Q3 earnings. Here is a breakdown of the information Eurodry presented to its investors.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
EuroDry Ltd. is a company operating in the drybulk shipping sector, specializing in the ownership and operation of drybulk vessels for seaborne transportation of drybulk cargoes. The company is listed on NASDAQ under the ticker EDRY.
In its latest earnings report for the third quarter and nine-month period ending September 30, 2025, EuroDry Ltd. reported total net revenues of $14.4 million for the quarter and $34.9 million for the nine-month period. The company also announced new debt financing arrangements for its two Ultramax newbuildings.
Key financial highlights include a net loss of $0.7 million for the quarter and $7.4 million for the nine-month period, with adjusted EBITDA of $4.1 million for the quarter. The company operated an average of 12 vessels during the quarter, earning an average time charter equivalent rate of $13,232 per day. EuroDry also continued its share repurchase plan, buying back 334,674 shares.
EuroDry has taken strategic steps to improve liquidity, including refinancing loans, selling an older vessel, and securing financing for newbuildings. These actions are expected to enhance cash flow and support fleet renewal and expansion plans.
Looking ahead, EuroDry’s management remains optimistic about the improving drybulk market conditions and anticipates positive cash flow generation, which will facilitate continued growth and fleet expansion in 2026, despite ongoing economic and geopolitical uncertainties.