EuroDry Q2 Earnings Call Highlights EuroDry logo MarketBeat Thu, August 6, 2026 at 7:04 PM GMT+2 6 min read EDRY Key Points Interested in EuroDry? Here are five stocks we like better. EuroDry returned to profitability in Q2 2026 as net revenue rose 57% year over year to $17.7 million and net income reached $6.59 million, compared with a $3.1 million loss a year earlier.
Time-charter-equivalent rates more than doubled to $20,398 per vessel per day, while utilization remained 100%. The company plans to expand its fleet from 11 to 15 vessels through four newbuildings scheduled for delivery in 2027 and 2028. It also signed a term sheet for a $19 million refinancing of the M/V Ekaterini, which could provide nearly $8 million in additional liquidity.
Management sees supportive but uncertain dry-bulk fundamentals, citing stronger trade conditions, a historically low order book and resilient commodity demand, while warning that geopolitical developments could disrupt routes and rates. EuroDry will continue disciplined share repurchases alongside fleet investment and debt management. EuroDry (NASDAQ:EDRY) reported higher second-quarter revenue and a return to profitability as time charter rates more than doubled from the prior-year period, while the dry bulk shipowner outlined plans to expand its fleet and refinance debt tied to one of its Kamsarmax vessels.
For the three months ended June 30, 2026, EuroDry reported total net revenues of $17.7 million, up 57% from $11.3 million a year earlier. Net income attributable to controlling shareholders was $6.59 million, or $2.32 per diluted share, compared with a $3.1 million loss in the second quarter of 2025. Adjusted net income was $6.95 million, or $2.44 per diluted share, and adjusted EBITDA was $11.71 million. → 3 Drone Stocks That Should Soar After the Summer Slump "The company reported a net income attributable to controlling shareholders of $6.6 million as compared to a net loss attributable to controlling shareholders of $3.1 million for the same period of 2025," Finance Manager Athina Atalioti said during the company's earnings call.
Charter Rates Drive Earnings Improvement EuroDry operated an average of 11 vessels in the second quarter, compared with 12 vessels in the year-earlier period. Its average time-charter-equivalent rate rose to $20,398 per vessel per day from $10,428 per day a year earlier. Both commercial and operational utilization reached 100% during the quarter. → Meta's Earnings Drop Shows Wall Street Wants More Than Ad Growth Operating expenses, including management fees and general and administrative costs but excluding dry-docking expenses, declined slightly to $7,444 per vessel per day from $7,539.
The company's daily cash flow break-even rate was $11,858 per vessel per day, compared with $12,222 in the prior-year quarter. Story Continues For the first half of 2026, revenue increased 49% to $30.5 million. Net income attributable to controlling shareholders was $6.8 million, compared with a $6.8 million loss in the first half of 2025.
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