EuroDry Q3 2026 swings to net income of $7.33 million as revenue rises 35% to $19.41 million
EDRY•EuroDry reported third-quarter 2026 net income attributable to controlling shareholders of $6.86 million, while net revenues rose 35% year over year to $19.41 million. Cash and cash equivalents were $50.7 million at September 30, 2026, and debt excluding unamortized loan fees was $105.7 million.
1. Quarterly results
EuroDry swung to third-quarter 2026 net income attributable to controlling shareholders of $6.86 million from a loss a year earlier. Net revenues rose 35% year over year to $19.41 million, primarily due to higher time charter equivalent rates.
2. Cash and newbuilding
Cash and cash equivalents totaled $50.7 million at September 30, 2026, while outstanding debt excluding unamortized loan fees was $105.7 million. A third Kamsarmax newbuilding, ordered for approximately $37 million, is scheduled for delivery in the third quarter of 2029.
