Euroholdings (EHLD) Q1 2026 earnings summary

Executive summary

• Completed a strategic shift toward the tanker sector, acquiring two MR product tankers and maintaining two legacy feeder container ships, supporting a balanced fleet and stable cash flows.

• Spun off from Euroseas Ltd in March 2025, listed on NASDAQ, and operates a fleet of two containerships and two MR tankers after recent acquisitions.

• Marla Investments acquired a 51% controlling stake in June 2025.

• Paid fifth consecutive quarterly dividend of $0.14 per share, yielding approximately 6% annualized.

• Share price improved since listing, closing at $8.65 on May 20, 2026.

Financial highlights

• Q1 2026 net revenues were $7.64 million, net income $2.38 million, and adjusted EBITDA $3.14 million.

• Basic and diluted EPS for Q1 2026 was $0.84 on 2,816,615 shares.

• Q1 2025 net revenues were $2.87 million, net income $11.08 million (including $10.23 million gain from vessel sale), and adjusted EBITDA $0.86 million.

• Excluding vessel sale, Q1 2025 adjusted EPS was $0.31.

• Average Q1 2026 time charter equivalent rate: $28,388/day (vs. $15,798/day in Q1 2025).

Outlook and guidance

• Expect continued stable cash flows from container ships and earnings growth from tanker expansion.

• Confident in ability to secure attractive charter rates for tankers despite recent market softening.

• Delivery of a second MR tanker expected between mid-June and mid-August 2026, financed by debt and equity.

• Medium to long-term MR tanker market fundamentals remain favorable due to supply-demand dynamics.

• Management expects continued profitability in Q2 2026, supported by robust product tanker markets and stable charter contracts for containerships.