Euroseas Ltd. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 21, 2024 at 08:00 am EST
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Euroseas Ltd. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 49.06 million compared to USD 42.89 million a year ago. Net income was USD 24.72 million compared to USD 20.34 million a year ago. Basic earnings per share from continuing operations was USD 3.58 compared to USD 2.87 a year ago. Diluted earnings per share from continuing operations was USD 3.56 compared to USD 2.86 a year ago.
For the full year, revenue was USD 189.36 million compared to USD 182.69 million a year ago. Net income was USD 114.55 million compared to USD 106.24 million a year ago. Basic earnings per share from continuing operations was USD 16.53 compared to USD 14.79 a year ago. Diluted earnings per share from continuing operations was USD 16.52 compared to USD 14.78 a year ago.
Euroseas Ltd. is engaged in the shipping business. The Company is an owner and operator of drybulk and container carrier vessels and is a provider of seaborne transportation for drybulk and containerized cargoes. Eurobulk Ltd. manages the Company's operations. The Company also owns and operates dry bulk carriers that transport major bulks, such as iron ore, coal and grains, and minor bulks, such as bauxite, phosphate and fertilizers. The Company has a fleet of 12 vessels, including Kamsarmax drybulk carrier, Panamax drybulk carriers and Handymax drybulk carrier, Intermediate containerships, Handysize containerships, and Feeder containerships. The Companyâs five drybulk carriers have a total cargo capacity of 351,272 deadweight tons (dwt), and its seven containerships have a cargo capacity of 11,828 twenty-foot equivalent units (teu).
EUROSEAS LTD. 
