EuroDry reports Q1 EPS ($1.35) vs ($1.18) last year

Reports Q1 revenue $9.2M0, consensus $11.07M. Aristides Pittas, Chairman and CEO of EuroDry (EDRY), commented: “During the first quarter of 2025, we faced quite low charter markets, the lowest since the early days of the COVID pandemic, and although the market rebounded a bit in April and May, the rebound was not sufficient to return most vessels to profitability and, in addition, it started fizzling out by the end of May and early June in the face of season trends and the uncertainty created by the back-and-forth’s on the tariff front. As EuroDry is fully exposed to the short-term charter markets, it is no surprise that we had a rather poor financial outcome for the quarter. The near-term outlook remains volatile as the demand side of the supply/demand equation struggles to establish a positive trend affected by the weakness of the steel industry and overall economic growth in China, the negative medium-term trend for thermal coal and the continuing conflicts in Ukraine and Gaza that have pushed significant reconstruction projects to the future.”