EuroDry .(US:EDRY)2025-06-05 13:39Financial Performance - EuroDry's net revenues for Q1 2025 were $9.2 million, a decrease of 36.2% compared to $14.42 million in Q1 2024[9, 39] - The company reported a net loss attributable to controlling shareholders of $3.7 million, or ($1.35)/share in Q1 2025[9] - Adjusted net loss was ($5.7 million), or ($2.07)/share in Q1 2025[9, 39] - Adjusted EBITDA was ($1.0 million) in Q1 2025, a decrease of 148.9% compared to $2.07 million in Q1 2024[9, 39] 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 13.6 years[13] - The company has repurchased 334,674 shares of its common stock for $5.3 million under a repurchase plan of up to $10 million[10] - Fixed rate coverage for the remainder of 2025 is about 21.9% through charters[14] - Time Charter Equivalent (TCE) rate decreased to $7,167/day/vessel in Q1 2025 from $12,455/day/vessel in Q1 2024[41] Market Overview and Outlook - The orderbook is at approximately 10.51% of the fleet, remaining among the lowest levels in history[24, 26] - The company estimates that new supply of ships will be limited to about 1.8% in 2026, while demand growth is estimated at about 0.6%[33]