EuroDry (NASDAQ:EDRY) reported a return to profitability in the first quarter of 2026, supported by stronger charter rates despite operating a smaller average fleet than a year earlier, while management said it is expanding its newbuilding program with two additional Kamsarmax bulk carriers.
Chairman and Chief Executive Officer Aristides Pittas said the dry bulk owner generated total net revenues of $12.8 million for the three months ended March 31, 2026. Net income attributable to controlling shareholders was $0.26 million, or $0.09 per diluted share. Adjusted net income attributable to controlling shareholders was $0.33 million, or $0.12 per diluted share, and adjusted EBITDA was $4.9 million.
