The EPS miss vs consensus is notable, but the strong revenue growth and positive operating cash flow signal a cyclical recovery in drybulk rates. Watch for Q2 2026 results to confirm the CEO's commentary on firming market rates; the newbuilding orders add long-term fleet renewal but near-term capex pressure. The extended buyback provides a floor.
Price Chart
Executive Summary
EuroDry reported Q1 2026 GAAP EPS of $0.09 on net revenues of $12.8M, a 38.9% YoY revenue increase driven by a 101% jump in time charter equivalent rates to $14,416/day, though the fleet shrank to 11.0 vessels from 12.8. The company also announced two new Kamsarmax newbuildings for $74M total, funded by debt and equity, and extended its share repurchase plan. The EPS of $0.09 is far below the $0.28 consensus, but the revenue beat and strong operational cash flow offset the miss, making the overall picture mixed.
Key Financial Metrics
Key Facts
- Q1 2026 GAAP EPS $0.09 vs consensus $0.28 (miss of 67.9%)
- Net revenues $12.8M, up 38.9% YoY from $9.2M (above $16.2M consensus)
- Average TCE rate $14,416/day, up 101.1% YoY from $7,167/day
- Adjusted EBITDA $4.9M vs -$1.0M in Q1 2025
- Ordered two 82,000 DWT Kamsarmax bulkers for ~$74M total, deliveries Q1/Q2 2028
- Share repurchase plan extended; $5.6M of $10M authorization used to date
- Fleet utilization improved to 99.7% from 97.4% YoY
- Operating cash flow positive at $2.3M vs -$2.3M in Q1 2025
Financial Impact
GAAP EPS $0.09 vs consensus $0.28 (67.9% miss); revenue $12.8M vs $16.2M consensus (21% miss); adjusted EBITDA swing of +$5.9M YoY
Risk Factors
- EPS miss of 67.9% vs consensus could pressure the stock near-term
- Newbuilding capex of $74M adds debt/equity dilution risk
- Drybulk market rates remain volatile; Q1 is seasonally weak
- Fleet reduction from 12.8 to 11.0 vessels limits revenue growth potential
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3298385 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | 144 | $44.97 | awaiting T+20 | — | $45.53 (+1.25%) |
Oct 14, 2026 13d ago | 6-K | $47.44 | awaiting T+20 | — | $45.53 (−4.03%) |
Oct 5, 2026 22d ago | Insider Cluster | $58.47 | awaiting T+20 | — | $45.53 (−22.13%) |
Oct 5, 2026 22d ago | 6-K | $58.47 | awaiting T+20 | — | $45.53 (−22.13%) |
Sep 11, 2026 6w ago | 6-K | $65.00 $50.80 | ▲ +21.85% | ▲ +24.11% | $45.53 (+29.95%) |
Sep 11, 2026 6w ago | 424B5 | $65.00 $50.80 | ▲ +21.85% | ▲ +24.11% | $45.53 (+29.95%) |
Sep 4, 2026 7w ago | EFFECT | $57.43 $58.47 | ▲ +1.81% | ▲ +1.21% | $45.53 (−20.72%) |
Aug 27, 2026 8w ago | Insider Cluster | $49.34 $50.90 | ▼ −3.16% | ▼ −3.67% | $45.53 (+7.72%) |
Aug 26, 2026 8w ago | Insider Cluster | $48.60 $67.97 | ▲ +39.86% | ▲ +38.65% | $45.53 (−6.32%) |
Aug 25, 2026 9w ago | Insider Cluster | $53.69 $51.34 | ▼ −4.38% | ▼ −5.35% | $45.53 (−15.20%) |
US Market Status
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