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Eurodry (EDRY)
:EDRY
Earnings Data
Report Date
Feb 24, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.42Last Year’s EPS
0.7Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 24, 2025
|% Change Since: 8.29%
|Next Earnings Date:May 14, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted strategic steps taken by EuroDry Ltd., such as a share repurchase plan, successful refinancing, and new vessel orders. However, the company faced significant challenges, including a net loss, declining Panamax rates, and a decrease in adjusted EBITDA. Global economic concerns and a limited order book further complicate the outlook.Company Guidance
In the EuroDry Ltd. conference call for the fourth quarter of 2024, the company reported total net revenues of $14.5 million and a net loss attributable to controlling shareholders of $3.3 million, or $1.20 loss per basic and diluted share. The adjusted net loss for the quarter was $0.7 million, or $0.25 per share, with an adjusted EBITDA of $4.8 million. The company incurred a $2.8 million paper loss due to an impairment on an older vessel. During this period, EuroDry refinanced two vessels with a $30 million loan, boosting cash reserves by $11 million. Their share repurchase program, extended to August 2025, has seen the repurchase of 334,000 shares for $5.3 million. The company also signed contracts for two new eco-friendly Kamsarmax bulk carriers to be delivered in 2027, each costing $36 million. EuroDry's fleet, consisting of thirteen vessels with a total cargo capacity of approximately 920,000 deadweight tons, will drop to twelve after selling the motor vessel Tassos for $5 million, with a gain of $2.1 million expected from the sale. The fleet's average age will decrease to 13.6 years post-sale. Looking ahead, the company is cautious about the dry bulk market, citing geopolitical tensions, trade policy shifts, and environmental regulations as potential challenges, while maintaining a watchful eye on fleet supply constraints and charter rate fluctuations.Share Repurchase Program
Since the initiation of the share repurchase plan of up to $10 million in August 2022, EuroDry Ltd. has repurchased 334,000 shares for a total of $5.3 million.
Successful Refinancing
Refinancing of two vessels to a $30 million loan increased cash reserves by about $11 million.
New Vessel Orders
Signed a contract for the construction of two eco-friendly Kamsarmax bulk carriers, scheduled for delivery in 2027.
Fleet Utilization
Achieved a 100% commercial utilization rate and 99.4% operational utilization rate for the fourth quarter of 2024.
Improvement in Spot Rates
From year-end 2024 to February 2025, one-year time charter rates for Panamax vessels increased by 12%, and spot rates increased by 14%.
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EDRY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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EDRY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 24, 2025 | $10.50 | $10.63 | +1.24% |
| Nov 19, 2024 | $15.10 | $14.96 | -0.93% |
| Aug 08, 2024 | $21.38 | $21.14 | -1.12% |
| May 21, 2024 | $22.30 | $22.04 | -1.17% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Eurodry (EDRY) report earnings?
Eurodry (EDRY) is schdueled to report earning on Feb 24, 2025, TBA Not Confirmed.
What is Eurodry (EDRY) earnings time?
Eurodry (EDRY) earnings time is at Feb 24, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is EDRY EPS forecast?
EDRY EPS forecast for the fiscal quarter 2024 (Q4) is -0.42.
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