The shipping firm reported $4.70 adjusted EPS, exceeding expectations, while revenue of $55.8M missed estimates by $1.1M.
Euroseas posted first-quarter adjusted earnings per share of $4.70, beating estimates by $0.41. Revenue reached $55.8M, down 0.9% year-over-year and $1.1M below consensus.
The company operated an average of 21 vessels during the quarter, earning $30,354 per day in time charter equivalent rates. Revenue missed despite the earnings beat, reflecting mixed performance in the shipping sector.
Shares rose 5% in premarket trading following the results.