Euroseas Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 08:38 am EST
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Euroseas Ltd. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 50.67 million compared to USD 45.96 million a year ago. Net income was USD 32.2 million compared to USD 25.22 million a year ago. Basic earnings per share from continuing operations was USD 4.67 compared to USD 3.5 a year ago. Diluted earnings per share from continuing operations was USD 4.65 compared to USD 3.5 a year ago.
For the nine months, revenue was USD 140.3 million compared to USD 139.81 million a year ago. Net income was USD 89.83 million compared to USD 85.91 million a year ago. Basic earnings per share from continuing operations was USD 12.95 compared to USD 11.91 a year ago. Diluted earnings per share from continuing operations was USD 12.9 compared to USD 11.86 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. 
