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EuroDry Ltd. Common Shares - EDRY STOCK NEWS

Welcome to our dedicated page for EuroDry Ltd. Common Shares news (Ticker: EDRY), a resource for investors and traders seeking the latest updates and insights on EuroDry Ltd. Common Shares stock.

EuroDry Ltd. (NASDAQ: EDRY) is a prominent global provider of ocean-going transportation services. The company specializes in owning and operating drybulk carriers that transport a variety of major bulks such as iron ore, coal, and grains, along with minor bulks including bauxite, phosphate, and fertilizers. Incorporated on January 8, 2018 under the laws of the Republic of the Marshall Islands, EuroDry Ltd. has consistently demonstrated its expertise and reliability in the maritime transportation sector.

Currently, EuroDry Ltd. boasts a fleet of eight dry bulk carriers, categorized into 2 Kamsarmax, 5 Panamax, and 1 Ultramax vessels. These vessels collectively offer a cargo carrying capacity of 605,635 deadweight tons (dwt) and maintain an average age of 12.6 years, reflecting the company’s commitment to maintaining a modern and efficient fleet.

The technical, commercial, and executive management services for these vessels are provided by Eurobulk Ltd. (Greece) and Eurobulk (Far East) Ltd. Inc. This partnership ensures that EuroDry Ltd. benefits from substantial expertise in all areas of commercial, technical, operational, and financial management. The management team’s comprehensive experience is pivotal to the company’s strategic goal of offering first-class shipping services while delivering superior returns for shareholders.

EuroDry Ltd.’s business strategy is aligned with providing top-tier shipping services and maximizing shareholder value. The company is proactive in exploring market opportunities for accretive investments and utilizes a share repurchase program to enhance overall returns for its investors. This strategic focus underscores EuroDry Ltd.’s dedication to disciplined capital allocation and long-term growth.

For the latest updates on EuroDry Ltd.’s performance, fleet status, and financial results, visit their official website at www.eurodry.gr.

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EuroDry Ltd. (NASDAQ: EDRY) has filed its Annual Report on Form 20-F for the year ended December 31, 2022, with the SEC. The report can be accessed on the company's website. Shareholders can request a hard copy free of charge. Established on January 8, 2018, EuroDry specializes in drybulk vessel operations, managing a fleet of 10 vessels with a total capacity of 728,975 dwt. The company is managed by Eurobulk Ltd., responsible for daily operations. EuroDry focuses on spot and period charters, alongside pool agreements. The PR also includes a forward-looking statement, indicating potential future growth through vessel acquisitions and time charters, while acknowledging risks that could affect actual results.

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EuroDry Ltd. (NASDAQ: EDRY) reported its Q4 2022 results with total net revenues of $15.1 million, a decline of 32.3% compared to Q4 2021. Net income attributable to common shareholders was $6.3 million, or $2.21 per share. The company's full-year net revenues for 2022 reached $70.2 million, an increase of 8.9% from 2021, with net income totaling $33.5 million. The decline in Q4 earnings was attributed to a significant drop in drybulk shipping rates, influenced by reduced demand and geopolitical factors. Despite challenges, EuroDry is optimistic about future growth due to low fleet orderbook levels and plans to expand its fleet.

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EuroDry Ltd. (NASDAQ: EDRY) announced it will release its financial results for Q4 2022 on February 13, 2023, before market opens in New York. A conference call is scheduled for the same day at 10:00 a.m. ET, where management will discuss the results. Participants can join the call via US Toll-Free and international numbers, and the details are available through the company's website. EuroDry operates a fleet of 10 drybulk vessels, built for spot and period charters. The company has been listed since its spin-off from Euroseas Ltd. on May 30, 2018, and is involved in the dry cargo shipping market.

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EuroDry Ltd. (NASDAQ:EDRY) announced its participation in Capital Link’s Corporate Presentation Webinar Series, scheduled for January 18th, 2023, at 10:00 am ET. The webinar will feature senior management discussing the company's operations, growth prospects, and the dry bulk sector's outlook. Interested participants can register through the provided link and submit questions during the session. EuroDry operates a fleet of 10 vessels with a total cargo capacity of 728,975 dwt.

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EuroDry Ltd. (NASDAQ: EDRY) reported its Q3 2022 results, showing a 18.7% revenue drop to $15.8 million and net income of $6.2 million, or $2.11 per share. Adjusted EBITDA was $9.5 million. The decrease in revenues was attributed to lower charter rates, which fell 35-50% compared to Q2 2022. Despite economic challenges from the Ukraine-Russia conflict, the firm remains optimistic due to historically low drybulk order volumes, potentially leading to tighter vessel supply and improved future charter rates. The company has a strong liquidity position and continues its $10 million share repurchase plan.

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EuroDry Ltd. (NASDAQ: EDRY) announced it will release its financial results for Q3 2022 on November 10, 2022, after market close. A conference call is scheduled for November 11, 2022, at 9:00 a.m. Eastern Time to discuss these results. Participants can join the call via a toll-free number or register for a faster connection. The company, formed in 2018 and managing a fleet of 10 vessels, focuses on drybulk cargo transportation. The results will be followed by an archived webcast available on the company’s website.

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EuroDry Ltd. (NASDAQ: EDRY) has signed an agreement to sell the M/V Pantelis, a 74,020 dwt drybulk vessel, for approximately $9.7 million. The sale is part of EuroDry's strategy to modernize its fleet and align with its ESG goals. The company expects to realize a gain of about $3 million or $1.00 per share, enhancing its liquidity to seize upcoming investment opportunities. Post-sale, EuroDry will operate a fleet of 10 vessels with a total capacity of 728,975 dwt.

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EuroDry Ltd. (NASDAQ: EDRY) reported a strong second quarter 2022, with net revenues of $21.0 million, a 48.9% increase year-over-year. Net income was $10.6 million or $3.66 per share. Adjusted EBITDA reached $13.7 million. The company announced a $10 million share repurchase program, aimed at enhancing shareholder value. However, due to market volatility, charter rates saw declines of about 40%. Overall, EuroDry maintains a positive outlook despite expected profit reductions from upcoming drydocking projects.

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EuroDry Ltd. (NASDAQ: EDRY) will announce its financial results for Q2 2022 on August 8, 2022, after market close. A conference call is scheduled for August 9, 2022, at 10:00 a.m. ET to discuss these results. Investors can participate by calling 866-682-6100 or +1 404-267-0373 and referencing ID number 13732109. An audio webcast and slides will be available on EuroDry's website, with a PDF presentation posted shortly before the call. EuroDry operates a fleet of 11 drybulk carriers with a total capacity of 802,995 dwt and was formed through a spin-off from Euroseas Ltd.

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FAQ

What is the current stock price of EuroDry Ltd. Common Shares (EDRY)?

The current stock price of EuroDry Ltd. Common Shares (EDRY) is $14.103 as of November 22, 2024.

What is the market cap of EuroDry Ltd. Common Shares (EDRY)?

The market cap of EuroDry Ltd. Common Shares (EDRY) is approximately 40.2M.

What does EuroDry Ltd. do?

EuroDry Ltd. provides ocean-going transportation services through its fleet of drybulk carriers, transporting major and minor bulks like iron ore, coal, grains, bauxite, phosphate, and fertilizers.

When was EuroDry Ltd. incorporated?

EuroDry Ltd. was incorporated on January 8, 2018, under the laws of the Republic of the Marshall Islands.

What is the stock symbol for EuroDry Ltd.?

The stock symbol for EuroDry Ltd. is EDRY, and it is listed on the NASDAQ Capital Market.

How large is EuroDry Ltd.’s fleet?

EuroDry Ltd. operates a fleet of eight dry bulk carriers, including 2 Kamsarmax, 5 Panamax, and 1 Ultramax vessels with a total cargo carrying capacity of 605,635 dwt.

Who provides management services for EuroDry Ltd.?

Technical, commercial, and executive management services for EuroDry Ltd. are provided by Eurobulk Ltd. (Greece) and Eurobulk (Far East) Ltd. Inc.

What is EuroDry Ltd.’s business strategy?

EuroDry Ltd.’s business strategy focuses on offering first-class shipping services and providing superior returns for shareholders through disciplined capital allocation and proactive market investment opportunities.

Where can I get the latest updates about EuroDry Ltd.?

For the latest updates on EuroDry Ltd.’s performance, fleet status, and financial results, you can visit their official website at www.eurodry.gr.

What kind of bulks does EuroDry Ltd. transport?

EuroDry Ltd. transports major bulks such as iron ore, coal, and grains, as well as minor bulks including bauxite, phosphate, and fertilizers.

How does EuroDry Ltd. enhance shareholder value?

EuroDry Ltd. enhances shareholder value through accretive investments and a share repurchase program, aiming to maximize overall returns for investors.

What is the average age of EuroDry Ltd.’s fleet?

The average age of EuroDry Ltd.’s fleet is 12.6 years.

EuroDry Ltd. Common Shares

Nasdaq:EDRY

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40.18M
1.30M
53.24%
4.08%
0.03%
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