Aug. 15 at 1:27 PM
Noble Capital Markets Research Report: Euroseas (
$ESEA) – Second Quarter Financial Results Exceed Expectations; Increasing Estimates
Second quarter financial results. Total net revenues for the second quartertotaled
$57.2 million, a 2.5% decrease year-over-year, but slightly higher than our estimate of
$56.7 million. Adjusted EBITDA and EPS were
$39.3 million and
$4.20, respectively, above our estimates of
$38.5 million and
$3.87. The better-than-expected results were due to higher time charter equivalent (TCE) rates of
$29,420 per day compared to our estimate of
$28,502 per day, along with modestly lower-than-expected operating expenses of
$23.9 million compared to our estimate of
$24.7 million.
Read more: https://www.channelchek.com/news-channel/euroseas-esea-second-quarter-financial-results-exceed-expectations-increasing-estimates
