Euroseas Ltd. (ESEA) Tops Q3 EPS by 7c

Euroseas Ltd. (NASDAQ: ESEA) reported Q3 EPS of ($0.06), $0.07 better than the analyst estimate of ($0.13). Revenue for the quarter came in at $11.1 million versus the consensus estimate of $9.08 million.

Third Quarter 2017 Highlights:

• Total net revenues of $11.1 million. Net loss of $4.8 million; net loss attributable to common shareholders (after a $0.5 million dividend on Series B Preferred Shares) of $5.3 million or $0.48 loss per share basic and diluted. Adjusted net loss attributable to common shareholders(1) for the period was $0.06(1) per share basic and diluted.
• Adjusted EBITDA(1) was $2.8 million.
• An average of 14.0 vessels were owned and operated during the third quarter of 2017 earning an average time charter equivalent rate of $8,529 per day.
• The Company declared its fifteenth dividend of $0.5 million on its Series B Preferred Shares; the dividend was paid in-kind by issuing additional Series B Preferred Shares.

For earnings history and earnings-related data on Euroseas Ltd. (ESEA) click here.

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