---
title: "EuroDry Jumps on Quarterly Figures"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/287093522.md"
description: "EuroDry Ltd. (NASDAQ: EDRY) reported a 3.4% increase in shares following its Q1 2026 results, with net revenues of $12.8 million and net income of $0.26 million. Adjusted EBITDA was $4.9 million. The company signed contracts for two eco-friendly Kamsarmax bulk carriers, totaling $74 million, to be financed through debt and equity. CEO Aristides Pittas noted the drybulk market remained stable despite seasonal slowdowns."
datetime: "2026-05-20T15:57:21.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/287093522.md)
  - [en](https://longbridge.com/en/news/287093522.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/287093522.md)
---

# EuroDry Jumps on Quarterly Figures

EuroDry Ltd. (NASDAQ: EDRY) shares hiked Wednesday, as the company, an owner and operator of drybulk vessels and provider of seaborne transportation for drybulk cargoes, announced today its results for the three-month period ended March 31, 2026. Total net revenues were $12.8 million, while net income attributable to controlling shareholders, of $0.26 million or $0.09 earnings per share attributable to controlling shareholders basic and diluted.

Adjusted net income attributable to controlling shareholders for the quarter proved to be $0.33 million or $0.12 earnings per share attributable to controlling shareholders basic and diluted, which represents the net income attributable to controlling shareholders excluding the unrealized loss on derivatives. Adjusted EBITDA was $4.9 million.

The Company has signed two contracts with Hengli Shipbuilding (Dalian) for the construction of two 82,000 DWT Kamsarmax bulk carriers. Both vessels are eco and are built to EEDI phase 3 design standard; they are scheduled to be delivered during the first and second quarters of 2028.

The total consideration for the two newbuilding contracts is approximately $74.0 million and will be financed with a combination of debt and equity. The contracts are conditional upon receiving a refund guarantee from a bank acceptable to the Company.

Said CEO Aristides Pittas,

“During the first quarter of 2026, a seasonally slow quarter, the drybulk market gave up very little ground as compared to the last quarter of last year.”  
EDRY shares 69 cents, or 3.4%, to $21.30.

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