Nov. 19 at 2:33 PM
Noble Capital Markets Research Report: Euroseas (
$ESEA) – Staying Nimble in a Dynamic Market Environment
Third quarter financial results. Total net revenues for the third quartertotaled
$56.9 million, a 5.1% increase year-over-year, but modestly lower than our estimate of
$59.2 million. Adjusted EBITDA and EPS were
$38.8 million and
$4.23, respectively, below our estimates of
$41.7 million and
$4.40. The lower-than-expected results were due primarily to a greater number of scheduled off-hire days and expenses associated with a special survey and drydock completed on one vessel during the quarter. Total operating expenses amounted to
$24.4 million compared to
$23.5 million during the prior year period and our
$23.1 million estimate. Drydocking expenses were
$2.7 million compared to our estimate of
$0.6 million.
Read more: https://www.channelchek.com/news-channel/euroseas-esea-staying-nimble-in-a-dynamic-market-environment
