ESEA EUROSEAS LTD.
Price Chart
Executive Summary
Euroseas Ltd. reported Q1 2026 results with net revenues of $55.8M (down 1% YoY) and net income of $32.5M ($4.67 EPS), down from $36.9M a year ago. However, adjusted EBITDA rose 10% to $40.9M and adjusted EPS grew 25% to $4.72. The company increased its quarterly dividend by 6.7% to $0.80/share and expanded its newbuilding program to ten vessels, underpinned by a $650M contracted revenue backlog covering ~90% of 2026 capacity.
Actionable Insight
The strong adjusted EBITDA and expanded backlog support the dividend increase, but the YoY revenue decline and macro risks (Iran conflict, tariffs) warrant caution. Monitor charter rate trends and newbuilding delivery schedule; the 90% coverage for 2026 provides near-term visibility.
Key Facts
- Net revenues $55.8M, down 1% YoY from $56.3M
- Net income $32.5M ($4.67 EPS) vs $36.9M ($5.31 EPS) YoY
- Adjusted EBITDA $40.9M, up 10% from $37.1M
- Adjusted EPS $4.72 vs $3.76 YoY
- Quarterly dividend increased 6.7% to $0.80/share
- Contracted revenue backlog of $650M over next five years
- Expanded newbuilding program from 6 to 10 vessels
- Fleet utilization 100%, average TCE $30,354/day (up 10.1% YoY)
- Share repurchases of 480,460 shares for ~$11.36M under $20M plan
Financial Impact
Revenue down ~1%, net income down ~12% on reported basis, but adjusted EBITDA up ~10% and adjusted EPS up ~25%
Risk Factors
- Geopolitical uncertainty from Iran war and Strait of Hormuz closure
- Potential inflation and economic slowdown reducing container demand
- Increasing containership orderbook across all segments
- Vessel operating expenses rising 5% due to USD softening and war-related costs
Market Snapshot
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001317861-26-000024 |
| Document: 0001317861-26-000024-index-headers.html | 0001317861-26-000024 |
| Document: 0001317861-26-000024-index.html | 0001317861-26-000024 |
| Document: 0001317861-26-000024.txt | 0001317861-26-000024 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
May 26, 2026
17d ago
|
6-K
| $66.00 $65.25 | ▼ −1.14% | ▼ −1.61% | $71.52 (+8.36%) |
|
May 26, 2026
17d ago
|
Press Release
| $65.32 $66.15 | ▲ +1.27% | ▲ +0.19% | $71.52 (+9.49%) |
|
May 21, 2026
22d ago
|
6-K
| $65.21 $66.15 | ▲ +1.44% | ▼ −0.22% | $71.52 (+9.68%) |
|
May 21, 2026
23d ago
|
Press Release
| $74.93 $63.70 | ▼ −14.99% | ▼ −16.84% | $71.52 (−4.55%) |
|
Apr 30, 2026
6w ago
|
6-K
| $70.57 $73.19 | ▲ +3.71% | ▲ +1.37% | $71.52 (+1.35%) |
|
Apr 30, 2026
6w ago
|
Press Release
| $70.01 $74.50 | ▲ +6.41% | ▲ +4.69% | $71.52 (+2.16%) |
|
Apr 29, 2026
6w ago
|
20-F
| $70.77 $72.07 | ▲ +1.84% | ▼ −1.27% | $71.52 (+1.06%) |
|
Apr 15, 2026
8w ago
|
Press Release
| $72.00 $68.73 | ▼ −4.54% | ▼ −5.53% | $71.52 (−0.67%) |
|
Apr 14, 2026
8w ago
|
Insider Cluster
| $69.92 $67.35 | ▼ −3.68% | ▼ −5.07% | $71.52 (+2.29%) |
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Apr 14, 2026
8w ago
|
Insider Cluster
| $69.92 $67.35 | ▼ −3.68% | ▼ −5.07% | $71.52 (+2.29%) |
US Market Status
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