Euroseas Does Not Qualify For Long-Term Holding Because Of Debt Risks [Seeking Alpha]
Euroseas Ltd. (ESEA)
Last euroseas ltd. earnings: 2/19 09:05 am
Check Earnings Report
US:NASDAQ Investor Relations:
euroseas.gr
Company Research
Source: Seeking Alpha
Breakeven costs have not improved, and the company's debt adds a risky component that could impact its ability to survive low charter rates. ESEA has locked in high-price contracts until 2025, but in the long term, charter rates are expected to trend towards spot rates, which can be low for extended periods. Euroseas ( NASDAQ: ESEA ) is a Marshallese-based, Greek-managed containership owner and charter. I wrote about the company in August 2022 and January 2023 . Both times, I analyzed the company from a breakeven perspective, comparing the breakeven numbers with historical charter rates. Both times, I considered ESEA to be a risky investment in the long term (across the cycle). Since my articles, the stock has more than doubled, increasing profits and distributions, which are expected during the upward portion of the cycle. I congratulate the people that were able to time the cycle. In this article, I review the breakeven costs again and find they have not improved. Further
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ESEA
News
- Investing in Euroseas (NASDAQ:ESEA) five years ago would have delivered you a 576% gain [Yahoo! Finance]Yahoo! Finance
- Euroseas Ltd. Announces A Time Charter Contract for its Feeder Containership, M/V EM Hydra, and An Agreement To Sell its 2004-built 2,788 teu Feeder Containership, EM AstoriaGlobeNewswire
- Euroseas Ltd. Announces One-Year Time Charter Contract and Completion of Retrofits for its Intermediate Containership, M/V Synergy AntwerpGlobeNewswire
- Euroseas Ltd. Announces Completion of Retrofits of its Intermediate Containership, M/V Marcos V, Reducing the Vessel’s Carbon FootprintGlobeNewswire
- Euroseas (NASDAQ:ESEA) Is Paying Out A Larger Dividend Than Last Year [Yahoo! Finance]Yahoo! Finance
ESEA
Earnings
- 2/21/24 - Miss
ESEA
Sec Filings
- 4/30/24 - Form 20-F
- 4/18/24 - Form 6-K
- 4/2/24 - Form 6-K
- ESEA's page on the SEC website