Euroseas (ESEA) Q4 2025 Earnings Call Transcript

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Wed, February 25, 2026 astatine 10:51 AM CST 36 min read

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Feb. 25, 2026 astatine 10 a.m. ET

• Chairman & Chief Executive Officer — Aristides Pittas

• Chief Financial Officer — Anastasios Aslidis

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Aristides Pittas: Good morning, ladies and gentlemen, and convey you each for joining america contiguous for our scheduled league call. Together with maine is Anastasios Aslidis, our Chief Financial Officer. The intent of today's telephone is to sermon our fiscal results for the three- and twelve-month periods ended 12/31/2025. Please crook to Slide 3 of the presumption for our halfway fiscal highlights. For 2025, we reported full nett revenues of $57,400,000 and a nett income of $40,500,000, oregon $5.79 per diluted share. Adjusted nett income for the 4th was $1,300,000, oregon $4.48 per diluted share. Adjusted EBITDA for the play was $40,700,000. Please notation to the property merchandise for the reconciliation of our nett income and adjusted EBITDA.

Anastasios Aslidis volition spell implicit our fiscal highlights successful much item aboriginal connected successful the presentation. As portion of the company's communal banal dividend plan, we are pleased to denote that the Board of Directors accrued the quarterly dividend by 7% to $0.75 per stock for 2025. This represents an annualized dividend per stock of $3.00, resulting successful an annualized dividend output of astir 5% based connected our existent stock price. Additionally, since the motorboat of our 20,000,000 stock repurchase programme successful May 2022, we person repurchased 480,000 shares of communal banal successful the unfastened market, representing astir 6.8% of our outstanding shares, for an aggregate terms of astir $11,400,000.

Following 2 one-year extensions, the programme was renewed for the archetypal clip successful May 2025. We mean to proceed executing our repurchase programme successful a disciplined manner, deploying superior erstwhile due to enactment and heighten semipermanent shareholder value. Please crook to Slide 4 for an overview of our caller developments wherever we item cardinal advancement crossed vas income and concern partnering enactment and operational performance. As antecedently announced, we successfully completed the merchantability and transportation of centrifugal vas Marcus V to her caller unaffiliated owners. This transaction generated a summation connected merchantability of $9,200,000. On the chartering front, we secured multiyear employment for respective vessels, further strengthening our gross stability.

Motor vas Gragos, Terrapate, and Lawniverse were each fixed for astir 3 years astatine an charismatic regular complaint of $30,000 per day. In addition, centrifugal vas Lean Expenses were fixed for a minimum of 22 months and a maximum of 24 months astatine a regular complaint of $21,500 per day. We had nary idle oregon commercialized off-hire days for the period. Now delight crook to Slide five. Our owned fleet presently consists of 21 vessels with a full carrying capableness of 1,000 TEUs and an mean property of 13.1 years.