EuroDry Ltd (NAS:EDRY)

Q1 2026 EuroDry Ltd Earnings Call Transcript

May 20, 2026 / 01:00 PM GMT

Release Date Price: $21.19 (+2.79%)

Transcript

Key Points

Positve

EuroDry Ltd (EDRY) reported a significant increase in total net revenues for Q1 2026, reaching $12.8 million, a 38.9% increase compared to the same period in 2025.
The company achieved a net income attributable to controlling shareholders of $0.26 million, compared to a net loss in the same period of 2025.
EuroDry Ltd (EDRY) has successfully repurchased 348,000 shares in the open market for a total of $5.6 million under its share repurchase plan.
The company is expanding its fleet with the addition of two new CancerMax vessels, complementing the two UltraMaxes already on order, which will modernize their fleet.
The company maintained high utilization rates, with a commercial utilization rate of 100% and an operational utilization rate of 99.7% for Q1 2026.

Negative

Despite the increase in revenues, the company's adjusted EBITDA for Q1 2026 was $4.9 million, which may not reflect a proportional increase compared to revenue growth.
The company faces potential risks from global macroeconomic factors, including geopolitical tensions and trade uncertainties, which could impact dry bulk shipping demand.
EuroDry Ltd (EDRY) did not conduct any vessel sales in Q1 2026, missing potential gains from asset sales as seen in the previous year.
The company's fleet has an average age of 13.8 years, which may require further modernization efforts to remain competitive.
There is a significant discrepancy between the company's estimated net asset value and its current stock trading price, indicating potential undervaluation concerns.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

EDRY.OQ - EuroDry Ltd
Q1 2026 EuroDry Ltd Earnings Call
May 20, 2026 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Thank you for standing by, ladies and gentlemen, and welcome to Eurodry Limited conference call on the first quarter 2026 financial results. With us today, we have Mr. Estariazes-Petis, Chairman and Chief Executive Officer, and Ms. Athena Alteotti, Finance and Investment Manager. At this time, all participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session, at which time, if you wish to ask a question. Please press *1 on your telephone keypad and wait for your name to be announced. I must advise you that this conference is being recorded today. Please be reminded that the company announced its results with a press release that has been publicly distributed.

Before passing the floor over to Mr.

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