Euroseas Ltd. Reports Results for the Nine-Month Period and Quarter Ended September 30, 2018
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Euroseas Ltd. (ESEA) Misses Q3 EPS by 16c, Revenues Miss
November 15, 2018 4:11 PM ESTEuroseas Ltd. (NASDAQ: ESEA) reported Q3 EPS of ($0.10), $0.16 worse than the analyst estimate of $0.06. Revenue for the quarter came in at $8.35 million versus the consensus estimate of $12.49 million.
Aristides Pittas, Chairman and CEO of Euroseas commented: The feeder containership markets have softened since July with rates declining gradually and with chartering activity levels dropping notably, especially, for larger vessels. As a result of this slowdown, our largest containership, M/V Akinada Bridge, also experienced some idle time during the quarter. Despite the slowdown, which we expect to continue through the upcoming holiday period,... More
