ATHENS, Greece, Feb. 13, 2024 (GLOBE NEWSWIRE) -- EuroDry Ltd. (NASDAQ: EDRY, the “Company” or “EuroDry”), an owner and operator of drybulk vessels and provider of seaborne transportation for drybulk cargoes, announced today that it will release its financial results for the fourth quarter ended December 31, 2023 on Thursday, February 15, 2024 after market closes in New York. On the next day, Friday, February 16, 2024, at 10:00 a.m. Eastern Time, the Company's management will host a conference call and webc ...

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1 Earnings Presentation Quarter Ended September 30, 2023 November 08, 2023 Forward/Looking Statements Statements in this presentation may be "forward/looking statements" within the meaning of federal securities laws. The matters discussed herein that are forward/looking statements are based on current management expectations that involve risks and uncertainties that may result in such expectations not being realized. Actual outcomes and results may differ materially from what is expressed or forecasted in s ...

Company Participants Tasos Aslidis – Chief Financial Officer Kristoffer Skeie – Arctic Securities Operator And now I would like to pass the floor to Mr. Pittas. Please go ahead, sir. As of September 8, we had repurchased a total of 268,000 shares of our common stock in the open market for about $4 million under our share repurchase plan of up to $10 million announced in August 2022 and extended for another year. This represents about 10% of our outstanding shares. On September 12, 2023, we announced an agre ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of September 2023 Commission File Number: 001-38502 EURODRY LTD. (Translation of registrant's name into English) 4 Messogiou & Evropis Street 151 24 Maroussi, Greece (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F ...

Financial Data and Key Metrics Changes - For Q2 2023, the company reported total net revenues of $10.3 million, a 50.7% decrease from $21 million in Q2 2022, primarily due to lower time charter rates and increased idle periods for vessels [26][59] - The net loss for Q2 2023 was $1.2 million, compared to a net income of $10.6 million in Q2 2022, with adjusted net loss of $1.3 million or $0.48 per share [26][60] - Adjusted EBITDA for Q2 2023 was $2.5 million, down from $13.7 million in Q2 2022 [35][60] - Interest and other financing costs for Q2 2023 amounted to $1.4 million, up from $0.8 million in Q2 2022 [59] Business Line Data and Key Metrics Changes - The average time charter equivalent rate per vessel per day was $12,179 in Q2 2023, compared to $24,025 in Q2 2022 [26][62] - Daily operating expenses averaged $6,780 per vessel per day in Q2 2023, compared to $5,806 in Q2 2022 [18][74] - The fleet utilization rate for Q2 2023 was 98.3% commercial and 95% operational, compared to 99.4% for the same period last year [61] Market Data and Key Metrics Changes - The average Panamax spot rate was around $10,500 per day in Q2 2023, dropping to approximately $7,900 per day by June 30, 2023 [29] - The total dry bulk vessel operating fleet was 13,350 vessels as of July 2023, with expected lower fleet growth due to scrapping and slippage [32] - The order book as a percentage of total fleet stood at just 7.4% as of July 2023, indicating minimal fleet growth over the next 2 to 3 years [56] Company Strategy and Development Direction - The company is currently trading its ships on a spot basis due to low freight rates, preparing to capitalize on potential market improvements [5] - The company is committed to share repurchases, having repurchased 216,000 shares for about $3.25 million, as its stock is trading at a significant discount to net asset value [51][63] - The company is considering vessel acquisitions if prices drop, while also prioritizing stock buybacks due to the current market conditions [84] Management's Comments on Operating Environment and Future Outlook - Management noted that the dry bulk market has weakened, with expectations for a gradual recovery in rates as demand picks up in the latter half of 2023 [30][70] - The IMF projects global growth to fall to 3% in 2023 and 2024, with specific growth in shipping demand from India, China, and ASEAN-5 [30][55] - Management expressed optimism about the potential for improved earnings in the coming quarters as supply-demand fundamentals appear more balanced [57] Other Important Information - The company incurred additional expenses due to a vessel incident, which affected profitability, but expects insurance to cover most costs [28][78] - The company has a cash flow breakeven level of around $12,815 per vessel per day, which includes loan repayments and other expenses [38][47] Q&A Session Summary Question: What did the commentary about future potential $2 million payments reflect? - Management clarified that a $4 million guarantee was posted for potential MARPOL violations, with expectations that insurance would cover most costs, and a reserve of $500,000 was set aside [41][78] Question: How does the company view the potential impact of new regulations? - Management indicated that while new regulations may impose financial implications, they are preparing for these changes and do not expect significant immediate impacts [80] Question: What is the company's strategy regarding share buybacks versus vessel acquisitions? - Management stated that while they are considering vessel acquisitions, the current priority is to repurchase shares due to their significant discount to NAV [84]

Adjusted EBITDA for the period was $2.4 million. A reconciliation of adjusted net income attributable to common shareholders and adjusted EBITDA is presented in the press release. As of May 15, 2023, we had repurchased 198,721 shares of our common stock in the open market, around 7% of our total stock for about $3 million under our share repurchase plan of up to $10 million announced in August 2022. We will continue to execute the share purchase program at management's discretion. Tasos will go on with our ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 20-F _________________ (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO SECT ...