Aug. 13 at 3:13 PM
Noble Capital Markets Research Report: EuroDry (
$EDRY) – Weak Second Quarter, Better Results Expected Ahead
Second quarter financial results. EuroDry generated Q2 net revenues of
$11.3 million, in line with our
$11.4 million estimate but down about
$6 million year-over-year due to a decline in average time charter equivalent (TCE) rates. Adjusted EBITDA of
$1.9 million and a loss per share of
$1.10 per share were better than our forecasts of
$1.6 million and a loss of
$1.23 per share, aided by lower voyage expenses, but trailed last year’s
$5.0 million and
$0.17 loss.
Read more: https://www.channelchek.com/news-channel/eurodry-edry-weak-second-quarter-better-results-expected-ahead
