Greece's Euroseas Q1 revenue misses estimates on fewer vessels

Euroseas

21/05/2026 12:21

Overview

Greece-based container ship operator's Q1 revenue fell 1% yr/yr, missing analyst expectations

Q1 adjusted EBITDA beat analyst estimates

Company raised quarterly dividend to $0.80/share and extended share buyback plan

Outlook

Euroseas says containership charter rates and freight rates remain strong, with high contracted coverage

Company says industry faces uncertainty from geopolitical risks and a growing orderbook

Euroseas plans to expand newbuilding program, aiming for a younger fleet

Result Drivers

FEWER VESSELS - Revenue declined mainly due to operating a smaller fleet compared to the prior year, per CFO Tasos Aslidis

HIGHER CHARTER RATES - Average time charter rates rose 10.1% yr/yr, helping offset the impact of a smaller fleet, per CFO Tasos Aslidis

LOWER DRYDOCKING EXPENSES - No vessels were drydocked in Q1 2026, reducing related costs compared to the prior year

Company press release: ID:nGNX8THBY5

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$55.8 mln
$57.23 mln (3 Analysts)
Q1 Net Income
$32.5 mln
Q1 Adjusted EBITDA
Beat
$40.9 mln
$40.07 mln (3 Analysts)
Q1 Dividend
$0.8
Q1 Vessel Operating Expenses
$11.2 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the marine freight & logistics peer group is "buy"

Wall Street's median 12-month price target for Euroseas Ltd is $90.00, about 26.4% above its May 20 closing price of $71.20

The stock recently traded at 4 times the next 12-month earnings vs. a P/E of 3 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)