Euroseas Q2 Revenue and EBITDA Beat, Dividend Maintained at $0.80
ESEA sits 53% above its 52-week low of $49.
Summary
Euroseas reported Q2 revenue of $56.50M, slightly above the $56.10M consensus, and adjusted EBITDA of $40.10M, beating the $38.24M estimate. Net income came in at $32.607M. The company declared a $0.80 dividend and repurchased 480,460 shares, about 6.8% of shares outstanding. Charter coverage is strong: over 95% of fleet days are booked for the rest of 2026 and 81% for 2027. Management expects strong charter rates near term but flags medium-term risks from a high orderbook and potential reversal of market inefficiencies. This follows a strong Q1 and recent fleet expansion orders; the stock trades at 5x forward earnings with a $90 median price target.
At the time of this announcement, ESEA was trading at $75.19 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $525.5M. The 52-week trading range was $49.00 to $79.67. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.