When it comes to short-term investing or trading, they say "the trend is your friend." And there's no denying that this is the most profitable strategy. But making sure of the sustainability of a trend to profit from it is easier said than done.Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate rev ...

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 ...

Financial Data and Key Metrics Changes - For the full year 2022, the company reported net revenue of $70.2 million, an 8.9% increase from $64.4 million in 2021, with net income of $33 million or $11.62 per diluted share [2][10] - Adjusted EBITDA for 2022 was $43.2 million, compared to $42.3 million in 2021 [45] - The adjusted net income for the fourth quarter of 2022 was $3.3 million or $1.18 per diluted share, down from $6.27 million in Q4 2021 [34][25] Business Line Data and Key Metrics Changes - The average time charter equivalent rate for vessels in Q4 2022 was $16,688 per day, significantly lower than $29,257 per day in Q4 2021 [27] - The company operated an average of 10.1 vessels in Q4 2022, compared to 9 vessels in the same quarter of 2021 [27] Market Data and Key Metrics Changes - The average spot market rate for Panamaxes was approximately $14,700 per day in Q4 2022, dropping to $6,438 per day by February 10, 2023, a decline of about 47% [4] - The order book as a percentage of the total fleet stood at 7.2% as of February 2023, indicating minimal fleet growth and potential for higher charter rates if demand returns to normal levels [59] Company Strategy and Development Direction - The company plans to utilize its strong balance sheet to grow the fleet with newer assets if charter rates do not recover as expected [8] - The management believes that acquiring vessels at the lower end of the cycle will yield rewards in cyclical markets like shipping [8] Management's Comments on Operating Environment and Future Outlook - Management noted that the dry bulk trade demand is expected to return to growth in 2023, with a projected growth rate of 1.6% [36] - The geopolitical uncertainties, including the Ukraine-Russia war and the economic slowdown in China, continue to pose significant headwinds [60] Other Important Information - As of December 31, 2022, the company had outstanding bank debt of about $81.9 million, representing approximately 41% of the book value of its assets [48] - The company’s cash and other current assets stood at about $50.5 million, with a total book value of assets around $200 million [12] Q&A Session Summary Question: What are the incentives for other ship owners to sell currently or to consider a merger? - The company needs to see prices soften before acting on expansion plans, as current prices are still high relative to charter rates [70] Question: Is there potential for more positioning after the current contracts expire in Q1 2023? - Half of the vessels are fixed throughout Q1, with the other half coming up for re-chartering soon, and management anticipates recovering rates in Q2 [71] Question: Will voyage expenses be consistently an expense or what has to happen to have a gain on bunkers going forward? - Voyage expenses depend on the style of fixing; gains on voyage expenses are one-off situations and should not be expected to continue [72]

Financial Data and Key Metrics Changes - For Q3 2022, total net revenues were $15.8 million, an 18.8% decrease from $19.5 million in Q3 2021, primarily due to lower time charter rates and increased idle time for vessels [33] - Net income for Q3 2022 was $6.2 million, down from $12.1 million in Q3 2021, with adjusted EBITDA at $9.5 million compared to $13 million in the same period last year [34][36] - For the first nine months of 2022, total net revenues increased by 30.7% to $55.1 million from $42.1 million in the same period of 2021, driven by a higher number of vessels operated [38] Business Line Data and Key Metrics Changes - The fleet consisted of 10 vessels as of Q3 2022, with a daily charter rate of approximately $20,600 [8][10] - The commercial utilization rate for Q3 2022 was 100%, while operational utilization was 98.9%, compared to 100% and 99.4% respectively in Q3 2021 [44] - Average time charter equivalent rate for Q3 2022 was $2,637 per day, down from $28,103 per day in the same period last year [45] Market Data and Key Metrics Changes - The average spot market rate for Panamaxes was approximately $16,000 per day in Q3 2022, dropping to around $14,900 per day currently [12] - The 1-year time charter rate for Panamaxes decreased from $16,300 per day to $14,565 per day by the end of Q3 2022 [13] - Global GDP growth is forecasted to slow from 6% in 2021 to 3.2% in 2022, with significant impacts from geopolitical tensions and inflation [14][15] Company Strategy and Development Direction - The company plans to continue its share repurchase program, viewing it as the most investor-friendly strategy given the current share price is at a significant discount to NAV [30] - The company is also considering further vessel acquisitions if market conditions allow, particularly if charter rates and prices drop [30] - The strategy includes renewing the fleet by swapping older vessels for newer ones, which is part of the long-term growth plan [73] Management's Comments on Operating Environment and Future Outlook - Management highlighted the uncertainty in the dry bulk market due to geopolitical tensions, particularly the Russia-Ukraine conflict, and its impact on global trade and demand [26][19] - The company remains cautious about the economic outlook, with expectations of a slight recovery in Chinese GDP growth in 2023, but overall market conditions remain uncertain [15][26] - Recent positive news regarding inflation and potential changes in China's COVID policy could provide some optimism, but the situation remains fluid [27] Other Important Information - The company reported a cash flow breakeven rate of $13,984 per vessel per day for Q3 2022, up from $9,992 in the same period last year, attributed to higher dry docking costs and loan repayments [47] - As of September 30, 2022, the company had an outstanding bank debt of about $88 million, with a projected cash flow breakeven rate of around $13,550 per vessel per day for the next 12 months [51][53] Q&A Session Summary Question: What was the assumed time charter equivalent rate used for the $35 million EBITDA calculation? - The calculation assumed a net time charter revenue of $17,564, demonstrating the EBITDA breakeven of $7,564 [61] Question: Can you discuss the decision to add debt by roughly $15 million or $16 million? - The company encumbered two vessels to maintain liquidity for share repurchase and potential acquisitions [62] Question: What are the primary sources of support for the market? - Demand is heavily influenced by global GDP growth, which is difficult to predict due to current geopolitical and economic conditions [63] Question: What is the expected refinancing rate for the $11.3 million debt due next year? - The company anticipates a refinancing margin near 2%, with flexibility to decide closer to the due date [68][71] Question: Is the stock buyback program still favorable given current asset values? - The stock buyback is seen as a positive investment, as shares are trading significantly below NAV, making it a better option than acquiring new vessels at current prices [72][73] Question: Are customers considering locking in longer-term commitments at current rates? - There is no significant pressure from the market for long-term charters at today's rates, as uncertainty makes customers more conservative [74]

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 October 2022 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 or ...