Greece's Euroseas Q2 revenue slightly beats estimates

Euroseas

13/08/2026 13:02

Overview
Greece container ship operator's Q2 revenue slightly beat analyst expectations, declined 1.2% yr/yr
Q2 adjusted EBITDA beat analyst estimates
Company declared $0.80 dividend and repurchased 480,460 shares, about 6.8% of outstanding

Outlook
Euroseas says over 95% of fleet is chartered for remainder of 2026, 81% for 2027
Company expects strong charter rates to continue in near term amid high demand and disruptions
Euroseas sees medium-term challenges from possible reversal of market inefficiencies and high orderbook

Result Drivers
FEWER VESSELS - Co said Q2 revenue declined due to a lower average number of vessels owned and operated compared to prior year
HIGHER CHARTER RATES - Co said vessels earned 3% higher average charter rates per day in Q2 vs prior year
INCREASED OPERATING COSTS - Co said vessel operating expenses rose due to higher supply costs from Middle East conflict and inflation-adjusted management fees

Company press release: ID:nGNX4MkHzY

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Slight Beat*
$56.50 mln
$56.10 mln (3 Analysts)
Q2 Net Income
 
$32.607 mln
 
Q2 Adjusted EBITDA
Beat
$40.10 mln
$38.24 mln (3 Analysts)
Q2 Dividend
 
$0.80
 
Q2 Vessel Operating Expenses
 
$11.60 mln
 
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

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 20.8% above its August 12 closing price of $74.48
The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 4 three months ago

Reuters Recommended Reads
Aug 13 - Germany's Hapag-Lloyd Q2 revenue rises on higher volumes, spot rates; EBITDA hit by Mideast conflict-related costs
Aug 13 - Maersk raises outlook again as strong demand, freight rates lift profit
Aug 13 - Denmark shipping firm Norden Q2 profit more than doubles on higher spot rates, raises outlook

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.)