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EuroDry (EDRY) Reports Q3 Loss, Misses Revenue Estimates
EDRYEuroDry .(EDRY) ZACKS·2024-11-19 16:26

Company Performance - EuroDry reported a quarterly loss of 1.42pershare,significantlyworsethantheZacksConsensusEstimateofalossof1.42 per share, significantly worse than the Zacks Consensus Estimate of a loss of 0.70, and compared to a loss of 0.24pershareayearago,indicatinganearningssurpriseof−102.860.24 per share a year ago, indicating an earnings surprise of -102.86% [1] - The company posted revenues of 14.71 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 11.22%, while year-ago revenues were 10.01million[2]−Overthelastfourquarters,EuroDryhassurpassedconsensusEPSestimatesonlyonceandhastoppedconsensusrevenueestimatesjustonce[2]StockPerformance−EuroDryshareshavedeclinedapproximately20.710.01 million [2] - Over the last four quarters, EuroDry has surpassed consensus EPS estimates only once and has topped consensus revenue estimates just once [2] Stock Performance - EuroDry shares have declined approximately 20.7% since the beginning of the year, contrasting with the S&P 500's gain of 23.6% [4] - The current Zacks Rank for EuroDry is 3 (Hold), suggesting that the shares are expected to perform in line with the market in the near future [7] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is 1.20 on revenues of 18.86million,andforthecurrentfiscalyear,itis−18.86 million, and for the current fiscal year, it is -0.85 on revenues of $67.3 million [8] - The trend of estimate revisions for EuroDry is mixed, which could change following the recent earnings report [7] Industry Context - The Transportation - Shipping industry, to which EuroDry belongs, is currently ranked in the bottom 19% of over 250 Zacks industries, indicating potential challenges ahead [9]