Euroseas Third Quarter 2024 Earnings: Beats Expectations

Euroseas (NASDAQ:ESEA) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$54.1m (up 6.9% from 3Q 2023).
• Net income: US$27.6m (down 14% from 3Q 2023).
• Profit margin: 51% (down from 64% in 3Q 2023). The decrease in margin was driven by higher expenses.
• EPS: US$3.97 (down from US$4.67 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Euroseas Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 11%.

Looking ahead, revenue is forecast to grow 4.2% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat.

Performance of the American Shipping industry.

The company's shares are down 5.5% from a week ago.

Risk Analysis

Before you take the next step you should know about the 4 warning signs for Euroseas (2 make us uncomfortable!) that we have uncovered.

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