EuroDry Ltd. Common Shares - EDRY STOCK NEWS

EuroDry Ltd. (EDRY) reported significant financial improvements for Q3 2021, with net revenues of $19.5 million, up 186.4% from Q3 2020. Net income attributable to common shareholders was $11.8 million, equating to $4.47 earnings per share. Adjusted net income was $10.1 million or $3.84 per share. The company also declared a $0.3 million dividend on Series B Preferred Shares. In recent developments, EuroDry drew a $9 million loan secured by its vessels and plans to redeem outstanding Series B shares, enhancing shareholder value in 2022.

On November 5, 2021, EuroDry Ltd. (NASDAQ: EDRY) announced the upcoming release of its financial results for Q3 2021, scheduled for November 10, 2021, after market close. A conference call will follow on November 11, 2021, at 10 a.m. ET, where management will discuss the results. Participants can join via provided dial-in numbers or through the company's website, where slides and an audio webcast will also be available. EuroDry operates a fleet of 9 drybulk vessels with a total cargo capacity of 668,631 dwt.

EuroDry Ltd. (NASDAQ: EDRY) has announced its acquisition of M/V Asia Ruby II, a 62,996 dwt drybulk vessel built in 2014, for $24.5 million. The delivery is expected between late September and early October 2021. The financing will be through the company's funds and a bank loan. This acquisition aims to enhance EuroDry's fleet amid supportive market fundamentals, potentially increasing net income and EBITDA. Following this acquisition, EuroDry will operate a fleet of 9 vessels with a total cargo capacity of 668,631 dwt.

EuroDry Ltd. (NASDAQ: EDRY) reported strong Q2 2021 results with net revenues of $14.1 million, a 250.7% increase from $4.0 million in Q2 2020. The company achieved net income of $1.9 million, or $0.83 per share, compared to a net loss of $4.2 million in the same period last year. Adjusted net income was $6.6 million, or $2.81 per share. The average time charter rate increased significantly to $22,614 per day. Recent developments include the acquisition of M/V Blessed Luck for $12.12 million, contributing to a positive outlook amid a recovering drybulk market.

EuroDry Ltd. (NASDAQ: EDRY) is set to release its financial results for Q2 2021 on August 4, 2021, after market close. A conference call will be held on August 5, 2021, at 9:30 a.m. ET to discuss these results. Interested participants can join the call using specified dial-in numbers or listen to an archived audio file on EuroDry's website. EuroDry operates a fleet of 8 drybulk carriers with a total cargo capacity of 605,635 dwt, providing vital seaborne transportation services.

EuroDry Ltd. (EDRY) reported Q1 2021 net revenues of $8.6 million, marking a substantial 69.3% increase year-over-year. The company achieved a net income of $0.9 million, resulting in earnings per share of $0.19. Adjusted EBITDA rose to $4.0 million from $0.6 million in Q1 2020. EuroDry announced the acquisition of M/V Blessed Luck for $12.12 million, expected to enhance the fleet to eight vessels and generate an additional $4 million in EBITDA. The acquisition will be financed by a combination of loans and cash, with a charter agreement set at $19,500/day.

EuroDry Ltd. (NASDAQ: EDRY) will release its financial results for Q1 2021 on May 20, 2021, before the market opens. The management will host a conference call and webcast at 9:30 a.m. ET on the same day to discuss these results. Interested participants can dial in 10 minutes prior to the call using various international numbers, including a US toll-free option. A telephonic replay will be accessible until May 27, 2021. The investor relations section of EuroDry's website will provide the slide presentation in PDF format.

EuroDry Ltd. (NASDAQ: EDRY) announced that Dr. Tasos Aslidis, CFO, will present at the Inaugural Emerging Growth Virtual Conference from March 17-19, 2021. The event includes discussions with C-suite executives and a panel on March 18 featuring shipping executives. EuroDry, which operates a fleet of 7 drybulk carriers, focuses on seaborne transportation for drybulk cargoes. The company aims to provide insights into market trends and upcoming growth strategies during the conference.

EuroDry Ltd. reported its financial results for the year ended December 31, 2020, with total net revenues of $22.3 million, an 18.2% decrease year-over-year. The company faced a net loss of $5.9 million, with a loss attributable to common shareholders of $7.5 million, significantly down from a profit in 2019. Average time charter equivalent rate fell to $9,387 per day. In January 2021, EuroDry refinanced loans, enhancing liquidity, and reduced the dividend rate of its preferred shares, which may improve earnings per share by approximately $0.50 annually for two years.