EuroDry Ltd. Reports Results for the Quarter Ended March 31, 2019

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Go back to EuroDry Ltd. Reports Results for the Quarter Ended March 31, 2019

EuroDry Ltd. (EDRY) Tops Q1 EPS by 29c, Revenues Miss

May 23, 2019 4:12 PM EDT

EuroDry Ltd. (NASDAQ: EDRY) reported Q1 EPS of ($0.21), $0.29 better than the analyst estimate of ($0.50). Revenue for the quarter came in at $5.8 million versus the consensus estimate of $6.04 million.

Aristides Pittas, Chairman and CEO of EuroDry commented: During the first quarter of 2019, the drybulk markets continued the declining trend of the fourth quarter of last year as they were affected by trade uncertainties and iron ore supply disruptions. Charter rates reached a bottom in February but have since recovered to their levels in the beginning of the year. For our fleet, this decline was... More