EuroDry Q1 FY26 net income swings to USD 256,441; net revenue rises 38.9% to USD 12.8 million

EuroDry

EuroDry

EDRY

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  • EuroDry posted net revenues of USD 12.8 million for the quarter ended March 31, 2026, up 38.9% from a year earlier.
  • Net income attributable to controlling shareholders returned to profit at USD 256,441, or USD 0.09 per share.
  • Adjusted EBITDA improved to USD 4.9 million from a loss a year earlier, as the fleet earned an average time charter equivalent rate of USD 14,416 per day versus USD 7,167 per day.
  • The company ordered two eco 82,000 DWT Kamsarmax newbuildings at a total price of about USD 74 million, with deliveries slated for Q1 and Q2 2028.
  • Chairman and CEO Aristides Pittas said the drybulk market firmed in April and May, with one-year time charter rates and trip earnings reaching around USD 20,000 per day for Ultramaxes and Kamsarmaxes.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. EuroDry Ltd. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202605200749PRIMZONEFULLFEED9723860) on May 20, 2026, and is solely responsible for the information contained therein.

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