Dry bulk market cycle

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EuroDry .(EDRY) - 2025 Q2 - Earnings Call Presentation
2025-08-11 14:00
Financial Performance - EuroDry reported net revenues of $1128 million for Q2 2025, a decrease of 353% compared to $1744 million in Q2 2024[10, 42] - The company experienced a net loss attributable to controlling shareholders of $307 million, or ($112) per share, in Q2 2025[10, 42] - Adjusted EBITDA for Q2 2025 was $187 million, a decrease of 628% from $502 million in Q2 2024[10, 42] - For the first half of 2025, net revenues were $2049 million, a decrease of 357% compared to $3186 million in the first half of 2024[42] - The adjusted net loss for the first half of 2025 was $868 million, compared to a loss of $367 million in the first half of 2024[42] Fleet and Operations - EuroDry's current fleet consists of 12 vessels with a total carrying capacity of 843k DWT and an average age of approximately 136 years[15] - The company has two Ultramax vessels under construction, scheduled for delivery in the second and third quarters of 2027, which will increase the total carrying capacity to 970k DWT[15] - Fixed rate coverage for the remaining of 2025 is about 255% through charters, excluding ships on index charters[17] - The company repurchased 334,674 shares of its common stock for $53 million since the initiation of the repurchase plan in August 2022[10] Market Outlook - The orderbook is at approximately 1094% of the fleet, which is low by historical standards[29, 34] - Dry bulk trade is projected to grow by 02% in 2025 and 06% in 2026[25]
EuroDry .(EDRY) - 2025 Q1 - Earnings Call Presentation
2025-06-05 13:39
Earnings Presentation Quarter Ended March 31, 2025 1 June 5, 2025 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 such forwa ...