EHLD Euroholdings Ltd.
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Executive Summary
Euroholdings Ltd. reported Q1 2026 net revenues of $7.6M (up 166% YoY from $2.9M) and adjusted net income of $2.4M ($0.84/share), compared to adjusted net income of $0.85M ($0.31/share) in Q1 2025. The company also announced the $39.25M acquisition of a 49,997 DWT product tanker (M/T Hellas Fighter), financed with debt and own funds, expanding its tanker fleet to two vessels. Core operating income declined to $2.7M from $11.1M in Q1 2025, which included a $10.2M gain on vessel sale.
Actionable Insight
The strong Q1 results and fleet expansion signal accelerating earnings power from the tanker pivot. Watch for delivery of Hellas Fighter and Q2 TCE rates to confirm sustainability. The 6.5% dividend yield provides a floor. Monitor debt levels post-acquisition.
Key Facts
- Q1 2026 net revenues of $7.6M, up 166% from $2.9M in Q1 2025
- Adjusted net income of $2.4M ($0.84/share) vs $0.85M ($0.31/share) in Q1 2025
- Adjusted EBITDA of $3.1M, up from $0.9M in Q1 2025
- Average TCE rate of $28,388/day, up 79.7% from $15,798/day in Q1 2025
- Acquisition of M/T Hellas Fighter for $39.25M, delivery expected mid-June to mid-August 2026
- Quarterly dividend of $0.14/share declared, annualized yield ~6.5%
- Outstanding debt of $19.6M with cash of $6.1M as of March 31, 2026
Financial Impact
Q1 2026 net revenues $7.6M (up 166% YoY), adjusted net income $2.4M (up 182% YoY on adjusted basis). Vessel acquisition for $39.25M will increase fleet to 4 vessels and add debt.
Risk Factors
- Acquisition adds $39.25M in debt, increasing leverage from $19.6M to ~$59M
- Two containerships (25+ years old) face charter roll-off risk by late 2026
- Spot tanker rates are volatile; Q1 strength may not persist
- Related-party transactions (vessel purchase from majority shareholder's affiliate) raise governance concerns
Market Snapshot
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001317861-26-000025 |
| Document: 0001317861-26-000025-index-headers.html | 0001317861-26-000025 |
| Document: 0001317861-26-000025-index.html | 0001317861-26-000025 |
| Document: 0001317861-26-000025.txt | 0001317861-26-000025 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
May 21, 2026
22d ago
|
6-K
| $8.40 $8.89 | ▲ +5.83% | ▲ +4.18% | $8.43 (+0.36%) |
|
May 21, 2026
23d ago
|
Press Release
| $8.60 $8.96 | ▲ +4.19% | ▲ +2.59% | $8.43 (−1.98%) |
|
Apr 30, 2026
6w ago
|
20-F
| $8.20 $8.50 | ▼ −3.66% | ▼ −1.93% | $8.43 (−2.80%) |
US Market Status
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