- EuroDry (EDRY -5%) reports Q2 revenues of $6.2M, +1.1% Y/Y led by increased average number of vessels partly offset by the decrease in the average time charter equivalent rate.
- The company ended the quarter with average number of vessels of 7 up 25%; average time charter equivalent rate decreased 11.1% to $10,724/day.
- Operating margin was 16.1% and EBITDA margin declined 1,031 bps to 29%.
- The Company was spun-off from Euroseas Ltd. on May 30, 2018.
- Previously: EuroDry EPS beats by $0.05, beats on revenue (Aug. 08 2019)