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Sep 30, 2025
Euroseas Q3 2025 Earnings Report
Euroseas reported strong results in Q3 2025, with net income rising to $29.7 million on revenue of $56.9 million.
Key Takeaways
Euroseas delivered a profitable Q3 2025 with increased earnings per share and robust operating income driven by higher average charter rates. The company operated a fleet of 22 vessels and declared a $0.70 dividend. Forward charter agreements for five vessels enhance revenue visibility into 2032.
Net income reached $29.7 million in Q3 2025, up from $27.6 million YoY
EPS was $4.27 and adjusted EPS was $4.26
Revenue increased to $56.9 million, supported by average charter rates of $29,284/day
Declared $0.70/share quarterly dividend and repurchased $10.5 million in stock
Forward Guidance
Euroseas secured multi-year charters for five vessels, boosting long-term revenue and earnings visibility through 2032. While market volatility and global shipping headwinds remain, Euroseas’ contract coverage provides solid downside protection.
Positive Outlook
- Chartered five vessels with contracted EBITDA of $183 million
- Charter coverage is ~75% for 2026 and >50% for 2027
- New charters extend revenue visibility into 2032
- Forward charter rates are locked in at $33,500–$35,500 per day
- Fleet consists of modern, efficient feeder and intermediate vessels
Challenges Ahead
- Containership freight rates reached 2-year lows in September
- Suez Canal traffic normalization could reduce vessel demand
- High orderbook in large container segments may impact market balance
- Exposure to foreign exchange volatility (noted loss in Q3)
Historical Earnings Impact
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Avg. Return Before/After Earnings
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