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Euroseas Ltd (ESEA)
NASDAQ:ESEA
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Earnings Data
Report Date
Feb 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$3.34Last Year’s EPS
$3.56Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 20, 2024
|% Change Since: -16.26%
|Next Earnings Date:Feb 19, 2025
Earnings Call Sentiment|Positive
Euroseas is experiencing strong financial performance and robust charter coverage, with promising developments in eco-friendly vessel orders. However, the company faces increased financing costs and potential market challenges due to global economic uncertainties.Company Guidance
During the Euroseas Q3 2024 earnings call, the company provided a comprehensive financial overview and forward guidance. For the third quarter, Euroseas reported total net revenues of $54.1 million and a net income of $27.6 million, with an adjusted EBITDA of $36.1 million. The company announced a quarterly dividend of $0.60 per share, maintaining an annualized dividend yield of 5.7%. Euroseas highlighted its robust chartering strategy, securing favorable rates for its fleet, with new charters including M/V Synergy Busan at $35,500 per day for up to 38 months. The company reported a fleet utilization rate between 99.2% and 99.8% and outlined plans for the delivery of new vessels, including two LNG-ready containerships slated for Q4 2027, with a total investment of $60 million each. Euroseas also extended its $20 million share repurchase program and discussed future market conditions, emphasizing its strategic investments in eco-friendly and fuel-efficient ships amidst a favorable rate environment.Strong Financial Performance
For the third quarter of 2024, Euroseas reported total net revenues of $54.1 million, a 6.9% increase over the third quarter of 2023, with a net income of $27.6 million.
New Eco-Friendly Vessel Orders
Euroseas announced the signing of a contract for the construction of 2 LNG-ready, eco-design, fuel-efficient containerships with a capacity of approximately 4,300 TEU each, scheduled for delivery in 2027.
Robust Charter Coverage
Approximately 70% of the fleet is fixed for 2025 and about 35% for 2026, ensuring significant profitability through these years.
Market Recovery
Containership charter rates showed a robust recovery with rates for 2,500 TEU containerships reaching approximately $30,750 per day, more than triple the rates at the end of 2023.
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ESEA 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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ESEA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 20, 2024 | $41.65 | $38.84 | -6.75% |
| Aug 06, 2024 | $34.93 | $38.74 | +10.91% |
| May 23, 2024 | $35.12 | $35.12 | 0.00% |
| Feb 21, 2024 | $31.97 | $31.58 | -1.22% |
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 Euroseas Ltd (ESEA) report earnings?
Euroseas Ltd (ESEA) is schdueled to report earning on Feb 19, 2025, TBA Not Confirmed.
What is Euroseas Ltd (ESEA) earnings time?
Euroseas Ltd (ESEA) earnings time is at Feb 19, 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 ESEA EPS forecast?
ESEA EPS forecast for the fiscal quarter 2024 (Q4) is $3.34.
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