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EuroDry Ltd (EDRY)
NASDAQ:EDRY
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Earnings Data
Report Date
Feb 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.03Last 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:Nov 19, 2024
|% Change Since: -29.37%
|Next Earnings Date:Feb 12, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a challenging quarter for EuroDry, with significant net losses driven by higher dry docking expenses and a declining market impacting charter rates. However, the company has shown resilience through strategic share repurchases and loan refinancing, indicating cautious optimism for future market improvements.Company Guidance
During the EuroDry Ltd Q3 2024 earnings call, executives discussed several key metrics and strategic actions. The company reported a total net revenue of $14.7 million for the quarter, while experiencing a net loss attributable to controlling shareholders of $4.2 million, translating to a $1.53 loss per share. This loss was attributed to a challenging market and costs associated with advancing two dry dockings, which, alongside two scheduled dry dockings, resulted in significant off-hire days. The adjusted net loss was $3.9 million or $1.42 per share, with adjusted EBITDA standing at $0.5 million. EuroDry also highlighted the repurchase of 314,000 shares, amounting to approximately $5 million under its $10 million buyback plan. The company refinanced loans related to four vessels, releasing $60 million in cash reserves and extending loan maturities to 2029 and 2030. Additionally, EuroDry's fleet of 13 vessels, with a total cargo capacity of about 1 million deadweight tons, maintained a 63% fixed-rate charter coverage for the rest of 2024, with daily rates ranging from $7,750 to $18,500 per vessel.Share Repurchase Program
As of November 19, 2024, EuroDry had repurchased 314,000 shares of common stock in the open market for a total of about $5 million, continuing to execute the repurchase program around current share price levels.
Loan Refinancing and Cash Reserve Release
EuroDry refinanced two loans involving four vessels, releasing $60 million of available cash reserves, extending loan maturities to 2029 and 2030, and lowering loan margins.
Fleet Growth and Revenue Increase
For the third quarter of 2024, EuroDry reported total net revenues of $14.7 million, a 47% increase over the same period last year, primarily due to an increased average number of vessels.
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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 |
|---|---|---|---|
| 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% |
| Feb 15, 2024 | $21.28 | $21.43 | +0.70% |
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 Ltd (EDRY) report earnings?
EuroDry Ltd (EDRY) is schdueled to report earning on Feb 12, 2025, TBA Not Confirmed.
What is EuroDry Ltd (EDRY) earnings time?
EuroDry Ltd (EDRY) earnings time is at Feb 12, 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 $0.03.
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