Jun. 20 at 3:17 PM
Noble Capital Markets Research Report: Euroseas (
$ESEA) – Strong Start to 2025
First quarter 2025 financial results. Euroseas Ltd. reported adjusted EBITDA and earnings per share (EPS) of
$37.1 million and
$3.76, respectively, compared to
$24.6 million and
$2.66 during the prior year period. Revenue increased due to a higher average number of vessels compared to the same period last year, while operating expenses declined. We had projected adjusted EBITDA and EPS of
$34.7 million and
$3.35, respectively. Relative to our estimates, revenues were higher, based on an average daily time charter equivalent rate of
$27,806, versus our estimate of
$26,221, while operating expenses were lower. Vessel operating expenses totaled
$12.3 million compared to our estimate of
$13.3 million.
Read more: https://www.channelchek.com/news-channel/euroseas-esea-strong-start-to-2025
