EuroDry Ltd. Common Shares - EDRY STOCK NEWS

EuroDry Ltd. (NASDAQ: EDRY) will announce its financial results for Q1 2022 on May 18, 2022, before the market opens. A conference call and webcast are scheduled for the same day at 10:30 a.m. ET, during which management will discuss the results. Participants are encouraged to dial in 10 minutes prior to the call. The presentation slides will be available on the company's website. EuroDry, which operates a fleet of 11 drybulk vessels with a total cargo capacity of 802,995 dwt, was spun off from Euroseas Ltd. on May 30, 2018.

EuroDry Ltd. (NASDAQ: EDRY) has announced its acquisition of the M/V Santa Cruz, a Panamax drybulk vessel built in 2005, for $15.75 million. The vessel will be delivered by the end of April 2022, and EuroDry will assume its existing charter at a daily rate of $14,800 until July 2022. This acquisition is part of EuroDry's strategy to expand its fleet amid supportive market conditions, driven by strong demand for drybulk shipping and limited fleet growth. The company expects the new vessel to enhance its net income and EBITDA significantly.

EuroDry Ltd. (NASDAQ: EDRY) announced that its CFO, Dr. Tasos Aslidis, will present at the Virtual Growth Conference hosted by Maxim Group LLC from March 28-30, 2022. This conference features discussions with C-suite executives and live presentations from various issuers. Dr. Aslidis will also participate in a Dry Bulk panel discussion on March 29 at 10:00 am EDT. EuroDry operates a fleet of 10 drybulk vessels, with a total capacity of 726,555 dwt, serving the drybulk shipping market.

EuroDry Ltd. (NASDAQ: EDRY) announced a new charter for its drybulk vessel M/V “Molyvos Luck” effective May 2022. The vessel will operate under a time charter of 11 to 13 months at a daily rate of $25,750, nearly double its current rate, securing at least $8.5 million in gross revenue and contributing over $5.5 million to EBITDA. This move enhances profitability and cash flow visibility for EuroDry, with its charter coverage at approximately 29% for 2022.

EuroDry Ltd. (NASDAQ: EDRY) reported robust fourth-quarter results for 2021, with net revenues of $22.3 million, a 248% increase from $6.4 million in Q4 2020. The net income attributable to common shareholders reached $15.2 million, or $5.38 per share, compared to a net loss of $0.7 million a year earlier. For the full year 2021, total net revenues were $64.4 million, up 189% from $22.3 million in 2020. The company also redeemed all Series B Preferred Shares, enhancing shareholder returns.

EuroDry Ltd. (NASDAQ: EDRY) has announced it will release its fourth quarter financial results for 2021 on February 9, 2022, after market close. The management will host a conference call and webcast on February 10, 2022, at 10 a.m. Eastern Time to discuss these results. Participants can dial in using specific toll-free numbers or join the live webcast available on EuroDry's website, where the presentation slides will also be accessible. EuroDry operates a fleet of 10 drybulk vessels, enhancing its capabilities in the dry cargo shipping market.

EuroDry Ltd. (NASDAQ: EDRY) announced its participation in Capital Link's Corporate Presentation Webinar Series on January 25, 2022, at 10:00 am ET. Senior management will present on the company's operations, growth prospects, and the dry bulk sector outlook. Registration is available through a provided link. Participants can also submit questions during the webinar or via email. EuroDry operates a fleet of 10 vessels, including various types of drybulk carriers, and aims to enhance its market position in the dry cargo shipping sector.

EuroDry Ltd. (NASDAQ: EDRY) has announced an agreement to acquire the M/V Molyvos Luck, a 57,924 dwt drybulk vessel built in 2014, for $21.2 million. The acquisition includes the existing charter for $13,250/day until April 2022, and will be financed initially through company funds, with a bank loan planned post-purchase. This acquisition is expected to enhance EuroDry's fleet and contribute positively to net income and EBITDA. Following this, the total fleet will comprise 10 vessels with a total capacity of 726,555 dwt.

EuroDry Ltd. (NASDAQ: EDRY) announced a notice of redemption for its Series B Preferred Shares at par, effective around December 20, 2021. The Preferred Shares, which had an 8% dividend until January 2023, will now see the company eliminate these payments, enhancing common shareholders' earnings by approximately $0.38 in 2022 and $0.67 annually thereafter. This move simplifies EuroDry's capital structure and reduces funding costs. The company operates a fleet of nine drybulk vessels, contributing to its position within the dry cargo shipping market.