We are excited to announce one of our best ever results for Q1-2026 and to declare an increase in the quarterly common stock dividend.
Q1 Key Highlights:
– Total net revenues of $55.8m
– Adjusted EPS $4.67
– Adjusted EBITDA of $40.9m
– Quarterly dividend $0.80 per share
– An average of 21 vessels were owned and operated during the first quarter of 2026, earning an average time charter equivalent rate of $30,354 per day.
– Our share repurchase program continues: 480,460 common shares (~ 6.8% of outstanding) were repurchased for a total of $11.36 million under its our $20 million share repurchase plan, as of May 21, 2026, with the Board extending the program for an additional year in May 2026.
Recent Developments:
On May 4, 2026, Euroseas formed a joint venture with NRP Project Finance AS investors for the ownership of M/V Thrylos, the third vessel in its 4,484 TEU newbuilding series. The vessel is expected to be delivered in Q1 2028, with the investors acquiring a 49% stake for approximately $12.2 million.
Please read more: https://www.euroseas.gr/press/esea052126.pdf
#Euroseas #ShippingIndustry #Containerships #Newbuildings #FleetExpansion #MaritimeIndustry #GlobalShipping
