EuroDry (EDRY) has released an update.
EuroDry Ltd., an operator of drybulk vessels, reported a 27.2% increase in net revenues to $14.4 million for Q1 2024 compared to the same period last year, despite a net loss attributable to controlling shareholders of $1.8 million. The company attributes the revenue growth to higher time charter equivalent rates and an increase in the number of vessels operated. Amidst market challenges, EuroDry is focusing on fleet positioning to capitalize on rate increases and continuing its share repurchase program.
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