ESEA

This article first appeared on GuruFocus. Total Net Revenues: $56.5 million for Q2 2026, a 1.3% decrease from $57.2 million in Q2 2025. Net Income (Attributable to Controlling Shareholders): $33.2 million, or $4.74 per diluted share, for Q2 2026. Adjusted Net Income: $32.9 million, or $4.70 per diluted share, for Q2 2026. Adjusted EBITDA: $40.1 million for Q2 2026, compared to $39.3 million in Q2 2025. First Half 2026 Total Net Revenues: $112.3 million, a 1.1% decrease from $113.6 million in the first half of 2025. First Half 2026 Net Income (Attributable to Controlling Shareholders): $65.7 million, or $9.39 per diluted share. First Half 2026 Adjusted EBITDA: $81 million, compared to $76.4 million in the first half of 2025. Average Time Charter Equivalent (TCE) Rate: $30,306 per day in Q2 2026, up from $29,420 per day in Q2 2025. Daily Operating Expenses: $8,036 per vessel per day in Q2 2026, including management fees and G&A but excluding dry docking costs. Daily Cash Flow Break-Even Rate: $12,233 per vessel per day in Q2 2026, down from $13,261 in Q2 2025. Dividend: Declared a quarterly dividend of $0.80 per share for Q2 2026. Share Repurchases: Repurchased 480,000 shares since May 2022 for approximately $11.4 million. Warning! GuruFocus has detected 9 Warning Signs with ESEA. Is ESEA fairly valued? Test your thesis with our free DCF calculator. Release Date: August 13, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Euroseas Ltd (NASDAQ:ESEA) reported strong Q2 2026 results with net income of $33.2 million and adjusted EBITDA of $40.1 million, reflecting robust profitability. The company has secured high charter coverage at attractive rates: 96% for 2026, 81% for 2027, and 47% for 2028, with average daily rates above $30,000, providing earnings visibility. The feeder and intermediate containership segments, where Euroseas operates, have a favorable supply outlook with low order books (17.6% and 28%) and aging fleets, supporting rates. Euroseas is expanding its fleet with 12 newbuildings, positioning it with one of the youngest feeder and intermediate fleets, and has secured a joint venture for one vessel to reduce equity funding needs. The company maintains a strong balance sheet with a net asset value of over $725 million (about $103 per share), trading at a discount, and continues to return capital via dividends and share repurchases. Total net revenues decreased 1.3% year-over-year in Q2 2026 due to a lower average number of vessels, despite higher charter rates. The containership order book has climbed to 39.8% of the fleet, the highest in over 15 years, posing a medium-term oversupply risk, especially in larger vessel classes. Global container trade growth is projected to moderate to 3.7% in 2026 and 3.4% in 2027, with a potential 4.8% decline in TEU-miles demand in 2027 if trade routes normalize. The company faces significant future capital commitments for its newbuilding program, requiring approximately $230 million in equity, with $74 million already spent, which could strain liquidity if market conditions worsen. Geopolitical tensions, including the Iran conflict and Ukraine-Russia war, are driving inflation and higher interest rates, which could increase financing costs and dampen global economic growth. Q: How much additional equity capital will need to be contributed to the newbuild program between now and the first quarter of 2029?A: Aristides Pittas, Chairman and CEO, stated that the overall cost of the newbuilding program is around $560 million, with a plan to finance it with about 60% debt. This implies total equity requirements of roughly $230 million, of which $74 million has already been contributed. Q: Given the strong market, what are your plans for the older vessels in the fleet as newbuilds arrive? Do you plan to sell any?A: Aristides Pittas, Chairman and CEO, stated that they are not thinking of selling any vessels currently. The market is so strong that it makes sense to continue operating the elder vessels. They are fixing these ships for at least one-year charters, and the earnings they generate are worth keeping them. The decision to sell would only be considered if the market drops significantly. Q: How do you think about capital allocation for your marginal dollar between newbuilds, acquisitions, debt repayments, dividends, and share repurchases?A: Aristides Pittas, Chairman and CEO, described it as a balancing act. While they have $160 million in cash, they also have another $160 million to pay for newbuilds over the next couple of years. However, they expect to generate a similar amount in that timeframe, leaving room for further investments, potential dividend growth, or share repurchases. All options are discussed at quarterly Board meetings. Q: Is it reasonable to forecast any delays in the delivery schedule for your newbuilds given how busy shipyards are?A: Aristides Pittas, Chairman and CEO, stated that they do not foresee any delays in the construction of the ships at this point. While they will only know for sure closer to delivery times, shipyards in general seem to be making their delivery schedules. Q: Is your contracting strategy for the newbuilds consistent with prior ones, and are you seeing any changes in contract structures, such as floors and upside potential?A: Aristides Pittas, Chairman and CEO, stated that the idea is to fix longer-term charters if possible, but it is too early to do so right now as they would have to accept lower rates. They have already fixed the four intermediate ships but are waiting to get good rates for the remaining eight. Tasos Aslidis, CFO, added that they have not seen any change in contract structure, with discussions remaining traditional flat rates, possibly with options for different durations. Q: Can you reconcile the dry docking activity on page 6 with the information in your 20-F, which shows six dry docks over the second half of the year?A: Aristides Pittas, Chairman and CEO, clarified that there are three major dry dockings to be done in the rest of 2026 on the Evridiki, EM Corfu, and Jonathan P. The remaining three mentioned in the 20-F are likely in-water dry docks, which involve a minimal delay of one day and minimal cost. Q: Can you talk about the nature and risk profile of the equity investments you have made?A: Aristides Pittas, Chairman and CEO, explained that these are bond funds investing in investment-grade bonds, which are very safe and liquid, intended to get a slightly higher return than deposits. There is also one investment in a capital-protected structured fund. Tasos Aslidis, CFO, added that these can be easily liquidated if needed, but they have $160 million in cash outside of the $38-39 million involved in these investments. Q: We've seen forward fixtures on modern tonnage, but what are the dynamics of forward fixing on older vessels? Is there a discount compared to modern vessels?A: Aristides Pittas, Chairman and CEO, stated that there is a lack of vessels today, so one can easily fix vessels that open up within the next three to six months at very decent rates. The discount to modern vessels is very small, mainly reflecting higher fuel consumption. The market is very tight, and they expect to fix their three ships that open up within this year in the next month or so. Q: Have you seen any cascading from larger vessels cannibalizing routes usually serviced by smaller vessels, and do you think this is a risk going forward?A: Aristides Pittas, Chairman and CEO, stated that markets are unstable due to geopolitical developments, making it difficult for liner companies to adjust schedules. Currently, lines are focused on carrying cargo and cannot optimize routes. When things normalize, cascading will occur as lines optimize and increase ship sizes, but they don't see that now. Tasos Aslidis, CFO, added that the intermediate and feeder segments are farther away from the larger ships that will cascade down, making it less of an issue than if they owned 8,000 TEU vessels. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Performance was driven by historically high charter rates reaching levels not seen since before the COVID-19 pandemic, fueled by robust mainlane demand and Middle East geopolitical tensions. Management attributes the current market strength to structural supply tightness, evidenced by idle capacity sitting at just 6% of the global fleet and minimal recycling activity. The company is strategically focusing on the feeder and intermediate segments where the order book is significantly lower (14% to 28%) compared to the massive oversupply risk in larger vessel classes. High secondhand vessel valuations have led management to favor a newbuilding strategy, which offers better pricing flexibility and cost predictability than purchasing existing tonnage at current cycle peaks. Operational efficiency remains high with 100% commercial utilization and a competitive daily cash flow break-even rate of $12,233 per vessel. The joint venture with NRP Project Finance for the M/V Piraeus demonstrates a capital-efficient approach to fleet expansion, utilizing 49% third-party equity to mitigate risk. Management anticipates market moderation toward the end of 2026, with potential pressure in 2027 if Red Sea routes normalize and vessel deliveries increase. The company has secured high revenue visibility with 96% charter coverage for the remainder of 2026 and 81% for 2027 at average rates exceeding $30,000 per day. The newbuilding program is expected to expand the fleet to 33 vessels by early 2029, positioning Euroseas with one of the youngest and most environmentally compliant fleets in its segment. Future supply-demand balance assumes that accelerated scrapping of older vessels (over 50% of the feeder fleet is near retirement age) will help absorb the incoming wave of new capacity. Capital allocation remains flexible, with management evaluating further investments, dividend growth, and share repurchases during quarterly board meetings based on cash flow generation. The company recognized a $0.29 million unrealized mark-to-market gain on equity securities and a $0.24 million unrealized loss on debt securities, though management intends to hold these to maturity. Total equity requirements for the $560 million newbuilding program are estimated at $230 million, with $74 million already paid as of June 30, 2026. Three major dry dockings for older vessels (Evridiki, EM Corfu, and Jonathan P) are scheduled for the second half of 2026, which will impact operational days. Management noted that while U.S. trade policy and tariffs remain a variable, the impact on container trade has been more muted than initially feared. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management clarified that the total equity requirement is approximately $230 million, assuming 60% debt financing. With $74 million already paid and strong projected cash flows, the company expects to cover the remaining $160 million while still having capital for dividends and buybacks. Management currently has no plans to sell older vessels because the market is strong enough to make operating 20-year-old ships highly profitable. Older vessels are being fixed for at least two-year terms, effectively postponing potential disposals until at least 2027 or 2028. Management stated that cascading is currently minimal because geopolitical instability prevents liner companies from optimizing routes or increasing ship sizes. They acknowledged cascading is an 'avoidable' risk once trade routes normalize, but noted the intermediate segment is better insulated than the 8,000 TEU class. Euroseas is intentionally waiting to fix charters for 8 of its 12 newbuildings, believing that current long-term rates offered are lower than what they can achieve by waiting. Management noted no structural changes in contracts, such as floors or caps, with the market remaining focused on traditional flat-rate multi-year fixtures.

Interested in Euroseas Ltd.? Here are five stocks we like better. Strong second-quarter results: Euroseas reported $33.2 million in net income and $40.1 million in adjusted EBITDA, while its average time-charter-equivalent rate increased to $30,306 per vessel per day despite operating one fewer vessel year over year. Fleet expansion is accelerating: The company ordered two additional 1,800-TEU ships for approximately $64.5 million and has 12 vessels already on order, which could expand its fleet from 21 to 33 vessels by 2029. Total newbuilding program costs are estimated at $560 million, requiring roughly $230 million in equity funding. Market remains favorable but risks are rising: Charter coverage is about 96% for the remainder of 2026, with contracted rates increasing through 2028, but management expects possible market moderation in late 2026 and greater oversupply risk in 2027 as vessel deliveries rise and Red Sea routes potentially normalize. Euroseas (NASDAQ:ESEA) reported second-quarter 2026 net income attributable to controlling shareholders of $33.2 million, or $4.74 per diluted share, as the container ship owner benefited from higher charter rates despite operating one fewer vessel on average than a year earlier. Total net revenues for the quarter ended June 30 were $56.5 million, down 1.3% from $57.2 million in the second quarter of 2025. Adjusted net income was $32.9 million, or $4.70 per diluted share, while adjusted EBITDA reached $40.1 million, up from $39.3 million a year earlier. → AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be For the first half of 2026, Euroseas recorded $112.3 million in revenue, down 1.1% year over year, and net income attributable to controlling shareholders of $65.7 million. First-half adjusted EBITDA increased to $81 million from $76.4 million in the comparable 2025 period. The board declared a quarterly dividend of $0.80 per share for the second quarter under the company’s common-stock dividend plan. Chairman and Chief Executive Officer Aristides Pittas said the dividend represented an annualized yield of roughly 4.2% to 4.5% based on the company’s recent share-price range. → Nebius’ Q2 Beat Shows the AI Bottleneck Is Capacity, Not Demand Since beginning a $20 million share-repurchase program in May 2022, Euroseas had repurchased 480,000 shares through Aug. 13, 2026, for approximately $11.4 million. The repurchased shares represent about 6.8% of shares outstanding, according to Pittas. The company operated an average of 21 vessels in the second quarter, compared with 22 vessels in the prior-year period. Its average time-charter-equivalent rate rose to $30,306 per vessel per day from $29,420 per day. Commercial utilization was 100%, while operational utilization was 99.9%. Second-quarter daily operating expenses were $8,036 per vessel, excluding dry-docking costs, compared with $7,694 a year earlier. Daily cash-flow break-even declined to $12,233 per vessel from $13,261 in the second quarter of 2025. For the first half, the company’s average time-charter-equivalent rate was $30,330 per day, compared with $28,468 per day a year earlier. → On Holding's Price Stumble May Be an Opening for a Company Built to Run Euroseas said its charter coverage stood at approximately 96% for the remainder of 2026, 81% for 2027 and 47% for 2028. Average contracted daily rates were about $30,858 for 2026, $31,658 for 2027 and $32,000 for 2028, Chief Financial Officer Anastasios Aslidis said. Pittas said the company secured charter extensions for the Pepi Star and Stephania K. Each vessel was fixed for a minimum of 24 months and a maximum of 26 months at $25,500 per day, providing employment visibility through at least the first quarter of 2028. The fleet currently comprises 21 vessels with aggregate capacity of about 61,000 twenty-foot equivalent units, or TEUs. It includes six intermediate container ships and 15 feeder vessels. Euroseas has 12 vessels on order—eight feeder ships and four intermediate container ships—with deliveries scheduled from the third quarter of 2027 through the first quarter of 2029. Upon delivery, the fleet is expected to expand to 33 vessels with capacity of roughly 97,000 TEUs. During the quarter, Euroseas ordered two additional 1,800-TEU container ships from Nantong CIMC Sinopacific Offshore & Engineering in China for approximately $64.5 million. Deliveries are expected in December 2028 and March 2029. The company expects to finance 60% to 65% of the purchase price with debt and the remainder with equity. The company also entered a joint venture with NRP Project Finance for its first intermediate newbuilding, the Piraeus, scheduled for delivery in the first quarter of 2028. NRP investors will hold a 49% stake for approximately $12.22 million, assuming at least 60% debt financing. Aslidis said the total cost of the company’s newbuilding program was about $560 million. Euroseas expects to fund about 60% with debt, implying total equity requirements of roughly $230 million, of which $74 million had been contributed as of June 30. Pittas said container shipping markets continued to strengthen through the second quarter and into the third quarter to date, supported by demand and supply disruptions related to Middle East geopolitical tensions. He said charter rates had reached their highest levels since before the COVID-19 pandemic. However, management expects some moderation toward the end of 2026 and sees greater supply-related risk in 2027 if Red Sea trade routes normalize and vessel deliveries increase. Pittas said capacity management, scrapping and slower steaming could help absorb additional supply, while geopolitical uncertainty continues to complicate the timing of any market normalization. The company highlighted lower orderbook levels and aging fleets in the feeder and intermediate vessel segments where it operates, compared with larger container ship classes. Pittas said Euroseas has not seen a material cascading effect from larger ships into smaller-vessel routes so far, though he expects liner companies to optimize routes and increase vessel sizes after market conditions normalize. On its older vessels, Pittas said Euroseas was not currently planning sales because market conditions remained strong and the ships continued to generate attractive earnings. He said the company was negotiating charter extensions for vessels approaching the end of their contracts, including the EM Corfu, and that a sale could be deferred if an extension is completed. As of June 30, Euroseas had approximately $208 million of outstanding bank debt, with a total debt cost of slightly more than 5.75%, based on a three-month SOFR rate of 3.76%. The company reported $226 million in cash and other current assets, $74 million in newbuilding advances and fleet book value of about $453 million. Management estimated the market value of its existing fleet at approximately $660 million and calculated net asset value at more than $725 million, or about $103 per share. Pittas said management would continue weighing investments in newbuildings, possible acquisitions, debt repayment, dividends and share repurchases as it allocates capital. “Everything is on the table,” he said, adding that the company reviews its capital deployment options at quarterly board meetings. Euroseas Ltd. (NASDAQ: ESEA) is an international shipping company specializing in seaborne transportation of containerized and drybulk cargoes. Incorporated in Bermuda with its principal operations and management office based in Athens, Greece, the company owns and charters a diversified fleet of containerships, drybulk carriers and multipurpose vessels. Euroseas provides tailored shipping solutions on time-charter and voyage-charter agreements, serving manufacturers, commodity traders and logistics providers across major trade routes. Euroseas’s fleet comprises both owned and chartered tonnage, enabling the company to adjust capacity to market conditions and customer requirements. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Euroseas Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Euroseas Ltd. (ESEA) came out with quarterly earnings of $4.7 per share, beating the Zacks Consensus Estimate of $4.47 per share. This compares to earnings of $4.2 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +5.15%. A quarter ago, it was expected that this company would post earnings of $4.54 per share when it actually produced earnings of $4.7, delivering a surprise of +3.52%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Euroseas, which belongs to the Zacks Transportation - Shipping industry, posted revenues of $58.08 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.16%. This compares to year-ago revenues of $58.81 million. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Euroseas shares have added about 36.4% since the beginning of the year versus the S&P 500's gain of 13.2%. While Euroseas has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Euroseas was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $4.38 on $58.05 million in revenues for the coming quarter and $18.10 on $233.57 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Transportation - Shipping is currently in the top 17% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Heidmar Maritime Holdings Corp. (HMR), has yet to report results for the quarter ended June 2026. This company is expected to post quarterly earnings of $0.10 per share in its upcoming report, which represents a year-over-year change of +900%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Heidmar Maritime Holdings Corp.'s revenues are expected to be $24.43 million, up 155% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Euroseas Ltd. (ESEA) : Free Stock Analysis Report Heidmar Maritime Holdings Corp. (HMR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

ATHENS, Greece, Aug. 13, 2026 (GLOBE NEWSWIRE) -- Euroseas Ltd. (NASDAQ: ESEA, the “Company” or “Euroseas”), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today its results for the three- and six-month periods ended June 30, 2026. Second Quarter 2026 Financial Highlights: Total net revenues of $56.5 million. Net income attributable to controlling shareholders of $33.2 million or $4.77 and $4.74 earnings per share attributable to controlling shareholders basic and diluted, respectively. Adjusted net income1 attributable to controlling shareholders for the period of $32.9 million or $4.73 and $4.70 adjusted earnings per share1 basic and diluted, respectively, which represents the net income attributable to controlling shareholders excluding the unrealized gain on investments in equity securities. Adjusted EBITDA1 was $40.1 million. An average of 21.0 vessels were owned and operated during the second quarter of 2026 earning an average time charter equivalent rate of $30,306 per day. Declared a quarterly dividend of $0.80 per share for the second quarter of 2026 payable on or about September 16, 2026, to shareholders of record on September 9, 2026, as part of the Company’s common stock dividend plan. As of August 13, 2026, we had repurchased 480,460 of our common stock in the open market, representing about 6.8% of the outstanding shares, for a total of about $11.36 million, since the initiation of our share repurchase plan of up to $20 million announced in May 2022. First Half 2026 Financial Highlights: Total net revenues of $112.3 million. Net income attributable to controlling shareholders of $65.7 million or $9.44 and $9.39 earnings per share attributable to controlling shareholders basic and diluted, respectively. Adjusted net income1 attributable to controlling shareholders for the period was $65.8 million or $9.45 and $9.40 adjusted earnings per share1 attributable to controlling shareholders basic and diluted, respectively. Adjusted EBITDA1 was $81.0 million. An average of 21.0 vessels were owned and operated during the first half of 2026 earning an average time charter equivalent rate of $30,330 per day. ___________________________1 Adjusted EBITDA, Adjusted net income and Adjusted earnings per share are not recognized measurements under US GAAP (GAAP) and should not be used in isolation or as a substitute for Euroseas financial results presented in accordance with GAAP. Refer to a subsequent section of the Press Release for the definitions and reconciliation of these measurements to the most directly comparable financial measures calculated and presented in accordance with GAAP. Aristides Pittas, Chairman and CEO of Euroseas, commented: “We are pleased to report financial results for the second quarter of 2026 at par with the first quarter of the year, making these two of our most profitable consecutive quarters of the last fifteen years. Solid contracts at highly profitable rates, combined with low drydocking expenses, as in the previous quarter, were the main factors supporting our strong financial results. “The containership charter market remained very strong during the second quarter, with daily rates continuing at high levels through July and into the beginning of August 2026, shrugging off geopolitical uncertainty and inflationary pressures. Charterer interest in securing vessels has remained high, including for older tonnage. Our charter coverage is over 95% for the remainder of 2026, 81% for 2027 and 47% for 2028, ensuring that our profitability will remain strong regardless of the levels at which expiring charters are renewed. Secondhand vessel prices across all segments have also remained very firm and have continued to inch upwards. “The macroeconomic environment during the quarter was largely influenced by continuing uncertainty surrounding the war in Iran and its effects on the use of the Strait of Hormuz. Whether these effects will prove short-lived or will ultimately result in lower economic growth remains to be seen. At the same time, continuing attacks by Houthi rebels on shipping in the Red Sea have prevented major liner companies from resuming regular Suez Canal transits. This has increased the number of teu-miles required and, consequently, the number of vessels needed, supporting demand for tonnage and charter rates. “The eventual reversal of these inefficiencies, together with the absorption of the increased fleet orderbook, presents challenges for our sector over the medium term. The vessel orderbook, however, although high for the overall containership fleet, is concentrated in the larger sizes. The segments in which we operate—feeder and intermediate containerships—not only have a significantly smaller orderbook as a percentage of the existing fleet but also have an older age profile. This is likely to result in very modest fleet growth, or potentially even fleet shrinkage, in these segments. “On the investment front, we have expanded our newbuilding program to 12 vessels, focusing on the most commercial sizes within the feeder and intermediate containership segments. The vessels are scheduled for delivery from the third quarter of 2027 through the first quarter of 2029. Once all twelve vessels are delivered, we expect to have one of the youngest feeder and intermediate containership fleets in the industry. In addition, we continue to look for accretive investment opportunities in our sector, balancing project returns with residual value risks. “Finally, I am also pleased to announce that our Board has decided to declare a dividend of $0.80 per share, representing an annualized yield of approximately 4.2% to 4.5% based on the recent range in which our share price has traded.” Tasos Aslidis, Chief Financial Officer of Euroseas commented: “Our revenues for the second quarter of 2026 are slightly lower compared to the same period of 2025. This was the result of the lower average number of vessels owned and operated during the second quarter of 2026 compared to the same period of last year. On a per-vessel-per-day basis, our vessels earned a 3.0% higher average charter rate in the second quarter of 2026 as compared to the same period of 2025. Our net revenues decreased to $56.5 million in the second quarter of 2026 compared to $57.2 million during the same period of last year. “Daily vessel operating expenses, including management fees but excluding drydocking costs, averaged $7,116 per vessel per day during the second quarter of 2026 as compared to $6,700 per vessel per day for the same quarter of last year. This was mainly the result of the falling value of the USD and the adjustment for inflation in the daily vessel management fee, effective from January 1, 2026, increasing it from 840 Euros to 875 Euros. General and administrative expenses averaged $920 per vessel per day during the second quarter of 2026 as compared to $694 per vessel per day for the same quarter of last year, and $910 per vessel per day for the first half of 2026 as compared to $766 per vessel per day for the same period of 2025. The increase is due to increased professional fees and increased cost for our stock incentive plan within 2026 as compared to 2025. “Adjusted EBITDA during the second quarter of 2026 was $40.1 million versus $39.3 million in the second quarter of last year. As of June 30, 2026, our outstanding debt (before deducting the unamortized loan fees) was $208.1 million versus restricted and unrestricted cash of $164.3 million. As of the same date, our scheduled bank debt repayments over the next 12 months amounted to about $18.1 million (before deducting the unamortized loan fees).” Second Quarter 2026 Results:For the second quarter of 2026, the Company reported total net revenues of $56.5 million representing a 1.2% decrease over total net revenues of $57.2 million during the second quarter of 2025. This was the result of the lower average number of vessels owned and operated in the second quarter of 2026 compared to the same period of 2025, partly offset by the increase in the time charter rates our vessels earned in the second quarter of 2026 compared to the same period of 2025. On average, 21.0 vessels were owned and operated during the second quarter of 2026 earning an average time charter equivalent rate of $30,306 per day compared to 22.0 vessels in the same period of 2025 earning on average $29,420 per day. For the second quarter of 2026, voyage expenses, net amounted to $0.2 million, as compared to voyage expenses of $0.3 million for the same period of 2025. Voyage expenses for both periods related mainly to owners’ expenses incurred in various ports. Vessel operating expenses were $11.6 million in the second quarter of 2026 as compared to $11.5 million for the second quarter of 2025. The increase is due to the increased cost of vessel supplies during the period, because of the war in the Middle East region, partly offset by the lower average number of vessels owned and operated in the second quarter of 2026, compared to the corresponding period of 2025. In the second quarter of 2026 none of our vessels were drydocked. The total drydock cost for the quarter of $0.2 million relates to supplies performed for upcoming drydocks. In the second quarter of 2025 one of our vessels completed extensive repairs afloat. The total drydock cost for the quarter was $1.7 million and also includes costs in relation to the upcoming drydockings. Vessel depreciation for the second quarter of 2026 decreased to $6.7 million compared to $7.3 million for the same period of 2025 due to the decreased number of vessels in the Company’s fleet. Related party management fees for the second quarter of 2026 increased to $1.96 million from $1.93 million for the same period of 2025. Despite the lower number of vessels in our fleet, this increase is due to the adjustment for inflation in the daily vessel management fee, effective from January 1, 2026, increasing it from 840 Euros to 875 Euros, as well as due to the unfavorable movement of the euro/dollar exchange rate. Other operating expenses of $0.6 million recognized in the second quarter of 2026 refers to expenses incurred for the formation of the Partnership (as defined below) with a group of investors represented by NRP Project Finance AS (“NRP Investors”). For the second quarter of 2025 the Company recognized other operating income of $0.12 million from an insurance claim. General and administrative expenses increased to $1.8 million for the second quarter of 2026, compared to $1.4 million for the second quarter of 2025, due to increased professional fees and increased cost for our stock incentive plan. Interest and other financing costs for the second quarter of 2026 amounted to $2.7 million, compared to $4.0 million for the second quarter of 2025. This decrease is due to the decreased amount of average outstanding debt and the decreased benchmark rates of our loans in the current period compared to the same period of 2025. For the three months ended June 30, 2026, the Company recognized a $0.3 million unrealized gain on its investments in equity securities, resulting from an increase in the fair value of the investments from $19.65 million as of March 31, 2026 to $19.95 million as of June 30, 2026. These investments, which had an initial cost of $20.0 million and were acquired in the first quarter of 2026 as part of the Company’s short-term cash and liquidity management strategy, are classified as investments in equity securities and measured at fair value through profit or loss in accordance with U.S. GAAP. As part of the same strategy, the Company also acquired debt securities with an initial cost of $20.0 million, classified as available-for-sale under U.S. GAAP, for which the fair value decreased from $19.182 million as of March 31, 2026 to $18.942 million as of June 30, 2026, resulting in an additional unrealized loss of approximately $0.24 million during the second quarter of 2026, which was recognized in “Other comprehensive loss. None of these investments existed in the second quarter of 2025. For the three months ended June 30, 2025, the Company recognized a $0.05 million realized gain and a $0.11 million unrealized loss for a total of $0.06 million net loss on its interest rate swap contract. The specific contract was closed within the year 2025 and no such case existed in the second quarter of 2026. The Company reported net income for the period of $32.6 million and net income attributable to controlling shareholders of $33.2 million, as compared to net income and net income attributable to controlling shareholders of $29.9 million for the same period of 2025. The net loss attributable to the non-controlling interest of $0.6 million in the second quarter of 2026 represents the income attributable to the 49% ownership of the entity owning the M/V Thrylos represented by the NRP investors (the “Partnership”). Adjusted EBITDA1 for the second quarter of 2026 was $40.1 million compared to $39.3 million achieved during the second quarter of 2025. Basic and diluted earnings per share attributable to controlling shareholders for the second quarter of 2026 was $4.77 and $4.74, calculated on 6,962,481 basic and 7,010,884 diluted weighted average number of shares outstanding, compared to basic and diluted earnings attributable to controlling shareholders per share of $4.32 and $4.29, respectively, for the second quarter of 2025, calculated on 6,917,212 basic and 6,954,709 diluted weighted average number of shares outstanding. The adjusted earnings per share attributable to controlling shareholders for the quarter ended June 30, 2026 would have been $4.73 and $4.70 per share basic and diluted, respectively, compared to adjusted earnings attributable to controlling shareholders of $4.23 and $4.20 per share basic and diluted for the quarter ended June 30, 2025. Usually, security analysts include Adjusted Net Income attributable to controlling shareholders in their determination of published estimates of earnings per share. First Half 2026 Results:For the first half of 2026, the Company reported total net revenues of $112.3 million representing a 1.1% decrease over total net revenues of $113.6 million during the first half of 2025. On average, the Company owned and operated 21.0 vessels during the first half of 2026, earning an average time charter equivalent rate of $30,330 per day. For the same period of 2025 the Company owned and operated 22.83 vessels that earned on average $28,468 per day. Voyage expenses, net for the first half of 2026 amounted to $0.4 million as compared to voyage expenses, net of $0.5 million for the same period of 2025. Voyage expenses for both periods related mainly to owners’ expenses incurred in various ports. Vessel operating expenses for the first half of 2026 amounted to $22.9 million compared to $23.7 million for the same period of 2025. The decrease is due to the lower average number of vessels owned and operated in the first half of 2026 compared to the corresponding period of 2025 partly offset by the higher daily vessel operating expenses, mainly attributable to the increased cost of vessel supplies during the period, because of the war in the Middle East region. In the first half of 2026 none of our vessels were drydocked. The total drydock cost for the period of $0.3 million relates to supplies performed for upcoming drydocks. In the same period of 2025 three of our vessels completed extensive repairs afloat for a total cost of approximately $3.5 million. Vessel depreciation expense for the first half of 2026 was $13.4 million compared to $15.3 million during the same period of 2025, due to the decreased number of vessels in the Company’s fleet. Related party management fees for the first half of 2026 increased to $3.95 million from $3.90 million for the same period of 2025. Despite the lower number of vessels in our fleet, this increase is due to the adjustment for inflation in the daily vessel management fee, effective from January 1, 2026, increasing it from 840 Euros to 875 Euros, as well as due to the unfavorable movement of the euro/dollar exchange rate. Other operating expenses of $0.44 million recognized in the first half of 2026 refer to expenses incurred for the formation of the Partnership of $0.60 million, partly offset by an operating income from a settlement and closure of a claim with a charterer of $0.16 million. For the same period of 2025, the Company recognized other operating income of $0.12 million from an insurance claim. General and administrative expenses increased to $3.5 million for the first half of 2026, as compared to $3.2 million for the same period of 2025, due to increased professional fees and increased cost for our stock incentive plan. The results of the Company for the first half of 2025 include a $10.2 million gain on sale of M/V “Diamantis” that was completed in January 2025. No such case existed in the first half of 2026. Interest and other financing costs for the first half of 2026 amounted to $5.7 million. Interest and other financing costs for the first half of 2025 amounted to $7.9 million. Capitalized interest charged on the cost of our newbuilding program was $0.1 million for the first six months of 2025. This decrease is due to the decreased amount of average outstanding debt and the decreased benchmark rates of our loans in the current period compared to the same period of 2025. For the first half of 2026, the Company recognized a $0.1 million unrealized loss on its investments in equity securities. This was the result of an investment in equity securities with an initial cost of $20.0 million acquired in the first quarter of 2026 and fair valued at $19.9 million as of the end of the reporting period. This investment was made as part of the Company’s short-term cash and liquidity management strategy, in the context of which the Company also acquired debt securities of initial cost of $20.0 million and fair valued at $18.9 million as of June 30, 2026, classified as available-for-sale under US GAAP, for which an unrealized loss of $1.1 million was recorded in “Other comprehensive loss” for the period. None of these investments existed in the second quarter of 2025. For the six months ended June 30, 2025 the Company recognized a $0.1 million realized gain and a $0.3 million unrealized loss for a total of $0.2 million net loss on its interest rate swap contract. The specific contract was closed within the year 2025 and no such case existed in the first half of 2026. The Company reported net income for the period of $65.1 million and net income attributable to controlling shareholders of $65.7 million, for the first half of 2026, as compared to net income and net income attributable to controlling shareholders of $66.8 million for the same period of 2025. The net loss attributable to the non-controlling interest of $0.6 million in the first half of 2026 represents the loss attributable to the 49% ownership of the Partnership. Adjusted EBITDA1 for the first half of 2026 was $81.0 million compared to $76.4 million achieved during the first half of 2025. Basic and diluted earnings per share attributable to controlling shareholders for the first half of 2026 was $9.44 calculated on 6,962,481 basic and $9.39, calculated on 7,001,419 diluted weighted average number of shares outstanding, compared to $9.63 calculated on 6,935,298 basic and $9.60, calculated on 6,958,398 diluted weighted average number of shares outstanding, for the same period of 2025. The adjusted earnings per share attributable to controlling shareholders for the six-month period ended June 30, 2026 would have been $9.45 and $9.40, basic and diluted, respectively, compared to adjusted earnings per share attributable to controlling shareholders of $7.99 basic and $7.97 diluted for the same period in 2025. As mentioned above, usually, security analysts include Adjusted Net Income attributable to controlling shareholders in their determination of published estimates of earnings per share. Fleet Profile: The Euroseas Ltd. fleet profile as of August 13, 2026 is as follows: Note: (*) TC denotes time charter. All dates listed are the earliest redelivery dates under each TC unless the contract rate is lower than the current market rate in which cases the latest redelivery date is assumed; vessels with the latest redelivery date shown are marked by (+). (**) Charterer has the option to convert to a five-year charter at $32,500/day for the entire period.(***) The entity owning the vessel under construction is 51% owned by Euroseas Ltd. and 49% by NRP Investors. Summary Fleet Data: (1) Average number of vessels is the number of vessels that constituted the Company’s fleet for the relevant period, as measured by the sum of the number of calendar days each vessel was a part of the Company’s fleet during the period divided by the number of calendar days in that period. (2) Calendar days. We define calendar days as the total number of days in a period during which each vessel in our fleet was in our possession including off-hire days associated with major repairs, drydockings or special or intermediate surveys or days of vessels in lay-up. Calendar days are an indicator of the size of our fleet over a period and affect both the amount of revenues and the amount of expenses that we record during that period. (3) The scheduled off-hire days including vessels laid-up, vessels committed for sale or vessels that suffered unrepaired damages, are days associated with scheduled repairs, drydockings or special or intermediate surveys or days of vessels in lay-up, or vessels that were committed for sale or suffered unrepaired damages. (4) Available days. We define available days as the Calendar days in a period net of scheduled off-hire days as defined above. We use available days to measure the number of days in a period during which vessels were available to generate revenues. (5) Commercial off-hire days. We define commercial off-hire days as days a vessel is idle without employment. (6) Operational off-hire days. We define operational off-hire days as days associated with unscheduled repairs or other off-hire time related to the operation of the vessels. (7) Voyage days. We define voyage days as the total number of days in a period during which each vessel in our fleet was in our possession net of commercial and operational off-hire days. We use voyage days to measure the number of days in a period during which vessels actually generate revenues or are sailing for repositioning purposes. (8) Fleet utilization. We calculate fleet utilization by dividing the number of our voyage days during a period by the number of our available days during that period. We use fleet utilization to measure a company's efficiency in finding suitable employment for its vessels and minimizing the amount of days that its vessels are off-hire for reasons such as unscheduled repairs or days waiting to find employment. (9) Fleet utilization, commercial. We calculate commercial fleet utilization by dividing our available days net of commercial off-hire days during a period by our available days during that period. (10) Fleet utilization, operational. We calculate operational fleet utilization by dividing our available days net of operational off-hire days during a period by our available days during that period. (11) Average time charter equivalent rate, or average TCE, is a metric of the average daily net revenue performance of our vessels. Our method of calculating average TCE is determined by dividing time charter revenue and voyage charter revenue, if any, net of voyage expenses by voyage days for the relevant time period. Voyage expenses primarily consist of port, canal and fuel costs that are unique to a particular voyage, which would otherwise be paid by the charterer under a time charter contract, or are related to repositioning the vessel for the next charter. Average TCE, which is a non-GAAP metric, provides additional meaningful information in conjunction with time charter revenue and voyage charter revenue, if any, the most directly comparable GAAP measure, because it assists our management in making decisions regarding the deployment and use of our vessels and because we believe that it provides useful information to investors regarding our financial performance. Average TCE is a standard shipping industry performance metric used primarily to compare period-to-period changes in a shipping company's performance despite changes in the mix of charter types (i.e., spot voyage charters, time charters and bareboat charters) under which the vessels may be employed between the periods. Our definition of average TCE may not be comparable to that used by other companies in the shipping industry. (12) We calculate daily vessel operating expenses, which includes crew costs, provisions, deck and engine stores, lubricating oil, insurance, maintenance and repairs and related party management fees by dividing vessel operating expenses and related party management fees by fleet calendar days for the relevant time period. Drydocking expenses are reported separately. (13) Daily general and administrative expenses are calculated by us by dividing general and administrative expenses by fleet calendar days for the relevant time period. (14) Total vessel operating expenses, or TVOE, is a measure of our total expenses associated with operating our vessels. TVOE is the sum of vessel operating expenses, related party management fees and general and administrative expenses; drydocking expenses are not included. Daily TVOE is calculated by dividing TVOE by fleet calendar days for the relevant time period. (15) Daily drydocking expenses are calculated by us by dividing drydocking expenses by the fleet calendar days for the relevant period, Drydocking expenses include expenses during drydockings that would have been capitalized and amortized under the deferral method. Drydocking expenses could vary substantially from period to period depending on how many vessels underwent drydocking during the period. The Company expenses drydocking expenses as incurred. Conference Call and Webcast: Today, Thursday, August 13, 2026 at 09:00 a.m. Eastern Time, the Company's management will host a conference call and webcast to discuss the results. Conference Call details:Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 877 405 1226 (US Toll-Free Dial In) or +1 201 689 7823 (US and Standard International Dial In). Please quote “Euroseas” to the operator and/or conference ID13762072. Click here for additional participant International Toll -Free access numbers. Alternatively, participants can register for the call using the call me option for a faster connection to join the conference call. You can enter your phone number and let the system call you right away. Click here for the call me option. Audio Webcast - Slides Presentation: There will be a live and then archived webcast of the conference call and accompanying slides, available on the Company’s website. To listen to the archived audio file, visit our website http://www.euroseas.gr and click on Company Presentations under our Investor Relations page. Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast. The slide presentation for the second quarter ended June 30, 2026, will also be available in PDF format minutes prior to the conference call and webcast, accessible on the company's website (www.euroseas.gr) on the webcast page. Participants to the webcast can download the PDF presentation. Adjusted EBITDA Reconciliation:Euroseas Ltd. considers Adjusted EBITDA to represent net income before interest and other financing costs, net, depreciation, loss on interest rate swap derivative, net, gain on sale of vessel, amortization of fair value of below market time charters acquired and unrealized (gain) / loss on investments in equity securities. Adjusted EBITDA does not represent and should not be considered as an alternative to net income, as determined by United States generally accepted accounting principles, or GAAP. Adjusted EBITDA is included herein because it is a basis upon which the Company assesses its financial performance and liquidity position and because the Company believes that this non-GAAP financial measure assists our management and investors by increasing the comparability of our performance from period to period by excluding the potentially disparate effects between periods of financial costs, loss on interest rate swaps, gain on sale of vessel, depreciation, amortization of below market time charters acquired and unrealized (gain) / loss on investments in equity securities. The Company's definition of Adjusted EBITDA may not be the same as that used by other companies in the shipping or other industries. Adjusted net income attributable to controlling shareholders and Adjusted earnings per share attributable to controlling shareholders Reconciliation: Euroseas Ltd. considers Adjusted net income attributable to controlling shareholders to represent net income attributable to controlling shareholders before unrealized loss on derivative, gain on sale of vessel, amortization of below market time charters acquired, vessel depreciation on the portion of the consideration of vessels acquired with attached time charters allocated to below market time charters and unrealized (gain) / loss on investments in equity securities. Adjusted net income attributable to controlling shareholders and Adjusted earnings attributable to controlling shareholders per share are included herein because we believe they assist our management and investors by increasing the comparability of the Company's fundamental performance from period to period by excluding the potentially disparate effects between periods of the aforementioned items, which may significantly affect results of operations between periods. Adjusted net income attributable to controlling shareholders and Adjusted earnings attributable to controlling shareholders per share do not represent and should not be considered as an alternative to net income or earnings per share, as determined by GAAP. The Company's definition of Adjusted net income attributable to controlling shareholders and Adjusted earnings attributable to controlling shareholders per share may not be the same as that used by other companies in shipping or other industries. Adjusted net income attributable to controlling shareholders and Adjusted earnings per share attributable to controlling shareholders are not adjusted for all non-cash income and expense items that are reflected in our statement of cash flows. About Euroseas Ltd.Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 140 years. Euroseas trades on the NASDAQ Capital Market under the ticker ESEA. Euroseas operates in the container shipping market. Euroseas' operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements. The Company has a fleet of 21 vessels, including 15 Feeder containerships and 6 Intermediate containerships. Euroseas 21 containerships have a cargo capacity of 61,144 teu. After the delivery of twelve containership newbuilding containerships gradually from the third quarter of 2027 until the first quarter of 2029, Euroseas’ fleet will consist of 33 vessels with a total carrying capacity of 97,396 teu. Forward Looking StatementThis press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include but are not limited to changes in the demand for containerships, competitive factors in the market in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. Visit the Company’s website www.euroseas.gr

Pangaea Logistics (PANL) came out with quarterly earnings of $0.26 per share, beating the Zacks Consensus Estimate of $0.24 per share. This compares to a loss of $0.02 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +8.33%. A quarter ago, it was expected that this maritime logistics company would post earnings of $0.05 per share when it actually produced earnings of $0.11, delivering a surprise of +120%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Pangaea Logistics, which belongs to the Zacks Transportation - Shipping industry, posted revenues of $187.12 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 2.93%. This compares to year-ago revenues of $156.69 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Pangaea Logistics shares have added about 7.9% since the beginning of the year versus the S&P 500's gain of 13.3%. While Pangaea Logistics has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Pangaea Logistics was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.16 on $176.83 million in revenues for the coming quarter and $0.71 on $715.32 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Transportation - Shipping is currently in the top 17% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Euroseas Ltd. (ESEA), another stock in the same industry, has yet to report results for the quarter ended June 2026. This company is expected to post quarterly earnings of $4.47 per share in its upcoming report, which represents a year-over-year change of +6.4%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Euroseas Ltd.'s revenues are expected to be $57.98 million, down 1.4% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Pangaea Logistics Solutions Ltd. (PANL) : Free Stock Analysis Report Euroseas Ltd. (ESEA) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

ATHENS, Greece, Aug. 10, 2026 (GLOBE NEWSWIRE) -- Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today that it will release its financial results for the second quarter ended June 30, 2026, on August 13, 2026 before market opens in New York. On the same day, Thursday, August 13, 2026, at 9:00 am Eastern Time, the Company's management will host a conference call and webcast to discuss the results. Conference Call details:Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 877 405 1226 (US Toll-Free Dial In) or +1 201 689 7823 (US and Standard International Dial In). Please quote “Euroseas” to the operator and/or conference ID13762072. Click here for additional participant International Toll-Free access numbers. Alternatively, participants can register for the call using the call me option for a faster connection to join the conference call. You can enter your phone number and let the system call you right away. Click here for the call me option. AudioWebcast-Slides Presentation:There will be a live and then archived webcast of the conference call and accompanying slides, available on the Company’s website. To listen to the archived audio file, visit our website http://www.euroseas.gr and click on Company Presentations under our Investor Relations page. Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast. The slide presentation for the second quarter ended June 30, 2026, will also be available in PDF format minutes prior to the conference call and webcast, accessible on the company's website (www.euroseas.gr) on the webcast page. Participants to the webcast can download the PDF presentation. About Euroseas Ltd.Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 150 years. Euroseas trades on the NASDAQ Capital Market under the ticker ESEA. Euroseas operates in the container shipping market. Euroseas' operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements. The Company has a fleet of 21 vessels, including 15 Feeder containerships and 6 Intermediate containerships with a cargo capacity of 61,144 teu. After the delivery of four intermediate and eight feeder containership newbuilding between 2027 and 2029, Euroseas’ fleet will consist of 33 vessels with a total carrying capacity of 97,396 teu. Visit the Company’s website www.euroseas.gr

EuroDry (EDRY) came out with quarterly earnings of $2.44 per share, beating the Zacks Consensus Estimate of $1.44 per share. This compares to a loss of $1.1 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +69.44%. A quarter ago, it was expected that this company would post earnings of $0.24 per share when it actually produced earnings of $0.12, delivering a surprise of -50%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. EuroDry, which belongs to the Zacks Transportation - Shipping industry, posted revenues of $17.7 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.68%. This compares to year-ago revenues of $11.28 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. EuroDry shares have added about 108.6% since the beginning of the year versus the S&P 500's gain of 12.8%. While EuroDry has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for EuroDry was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.29 on $17.71 million in revenues for the coming quarter and $4.27 on $65.96 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Transportation - Shipping is currently in the top 14% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Euroseas Ltd. (ESEA), another stock in the same industry, has yet to report results for the quarter ended June 2026. This company is expected to post quarterly earnings of $4.47 per share in its upcoming report, which represents a year-over-year change of +6.4%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Euroseas Ltd.'s revenues are expected to be $57.98 million, down 1.4% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report EuroDry (EDRY) : Free Stock Analysis Report Euroseas Ltd. (ESEA) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Last week, you might have seen that Euroseas Ltd. (NASDAQ:ESEA) released its quarterly result to the market. The early response was not positive, with shares down 6.4% to US$65.21 in the past week. Euroseas reported US$56m in revenue, roughly in line with analyst forecasts, although statutory earnings per share (EPS) of US$4.65 beat expectations, being 9.2% higher than what the analyst expected. Earnings are an important time for investors, as they can track a company's performance, look at what the analyst is forecasting for next year, and see if there's been a change in sentiment towards the company. So we collected the latest post-earnings statutory consensus estimate to see what could be in store for next year. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. Following last week's earnings report, Euroseas' sole analyst are forecasting 2026 revenues to be US$225.6m, approximately in line with the last 12 months. Statutory earnings per share are expected to shrink 9.1% to US$17.07 in the same period. In the lead-up to this report, the analyst had been modelling revenues of US$226.1m and earnings per share (EPS) of US$16.83 in 2026. So it's pretty clear that, although the analyst has updated their estimates, there's been no major change in expectations for the business following the latest results. Check out our latest analysis for Euroseas There were no changes to revenue or earnings estimates or the price target of US$88.33, suggesting that the company has met expectations in its recent result. Of course, another way to look at these forecasts is to place them into context against the industry itself. These estimates imply that revenue is expected to slow, with a forecast annualised decline of 1.0% by the end of 2026. This indicates a significant reduction from annual growth of 20% over the last five years. By contrast, our data suggests that other companies (with analyst coverage) in the same industry are forecast to see their revenue grow 2.9% annually for the foreseeable future. It's pretty clear that Euroseas' revenues are expected to perform substantially worse than the wider industry. The most important thing to take away is that there's been no major change in sentiment, with the analyst reconfirming that the business is performing in line with their previous earnings per share estimates. On the plus side, there were no major changes to revenue estimates; although forecasts imply they will perform worse than the wider industry. The consensus price target held steady at US$88.33, with the latest estimates not enough to have an impact on their price target. With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have analyst estimates for Euroseas going out as far as 2027, and you can see them free on our platform here. However, before you get too enthused, we've discovered 1 warning sign for Euroseas that you should be aware of. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Performance was driven by a tight containership market where idle fleet capacity remains near historic lows at 0.7%, supporting elevated time charter rates. Management attributes the firm rate environment to liner operators locking in tonnage to navigate persistent supply chain disruptions and network imbalances. The company is strategically focusing on the feeder and intermediate segments where the order book is only 14% to 21% of the fleet, compared to up to 89% in larger vessel classes. High fleet utilization was maintained with zero idle or commercial off-hire days during the period, underpinned by a disciplined, cycle-aware chartering strategy. Management views newbuildings as a more attractive risk-reward profile than secondhand acquisitions, which currently command prices significantly above 10-year historical medians. The decision to expand the newbuilding program to 10 vessels is based on the aging profile of the global feeder fleet, where over half of the vessels are approaching scrap age. Revenue visibility is high with 96% of 2026 and 86% of 2027 available voyage days already secured at average rates exceeding $30,000 per day. The company expects to operate one of the youngest feeder fleets upon the delivery of 10 newbuildings between Q3 2027 and Q1 2029, targeting 60% to 65% leverage for these units. Management anticipates a more challenging market in 2027 due to a large wave of newbuild deliveries in the second half of the year, though scrapping may provide a buffer. The joint venture with NRP Project Finance for the vessel Thrylos is intended to build strategic relationships within the Norwegian investment community. Guidance for 2027 trade growth assumes a sharp contraction of 6.6% based on a complete normalization of global trade flows and the unwinding of supply chain complexities. The quarterly dividend was increased by 6.7% to $0.80 per share, reflecting management's confidence in sustained cash flow visibility. A $20 million share repurchase program was renewed for a fourth year, with approximately $11.4 million in aggregate consideration deployed to date. Geopolitical risks, specifically the broadening of Middle East conflicts and shifting trade policies, remain primary variables that could disrupt trade growth forecasts. The pace of the energy transition in shipping is expected to be slower than anticipated due to technical hurdles and delays in the IMO's net-zero framework. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Newer vessels offer approximately 20% better fuel consumption, but current TCE rates are similar to older vessels because the newbuilds are not yet available for immediate delivery. Management noted that if newbuilds were available today, they would command a significant premium over 2008-2009 vintage ships. Charter duration also impacts rates, with new ships securing 4-year terms compared to 2-3 years for existing fleet members. The JV was not driven by a need for financing but was a strategic move to increase Euroseas' visibility and liaison with the Norwegian investment market. Management indicated they may consider similar JV structures for one or two additional ships in the future. Management reversed a previous plan to retire the 'Evridiki,' deciding instead to pass its special survey due to strong chartering interest at profitable levels. The company expects to fix all remaining open vessels for the year within the next few months, aiming for 100% coverage at rates similar to recent fixtures.