On average, 19.0 vessels were owned and operated during the second quarter of 2020 earning an average time charter equivalent rate of $9,458 per day compared to 11.0 vessels in the same period of 2019 earning on average $8,307 per day.Interest and other financing costs for the second quarter of 2020 amounted to $1.1 million compared to $0.8 million for the same period of 2019. Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. Adjusted net (loss) / income and Adjusted (loss) / earnings per share do not represent and should not be considered as an alternative to net (loss) / income or (loss) / earnings per share, as determined by GAAP. Euroseas, Ltd. ESEA 2.23 0.02 (1.01%). On the next day, Wednesday, August 12, 2020 at 10:00 a.m. Eastern Time, the Company's management will host a conference call and webcast to discuss the results.Conference Call details: Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 1 (877) 553-9962 (US Toll Free Dial In), 0(808) 238-0669 (UK Toll Free Dial In) or +44 (0) 2071 928592 (Standard International Dial In). MAROUSSI, ATHENS, Greece, May 27, 2020 (GLOBE NEWSWIRE) -- Euroseas Ltd. (NASDAQ: ESEA, the “Company” or “Euroseas”), an owner and operator of container carrier vessels and provider of seabo... COVID-19 is delivering a devastating impact to global markets, with oil routing the hardest due to a double-punch from the Saudi/Russia oil price war. Visit our website www.euroseas.grCompany ContactInvestor Relations / Financial Media Tasos Aslidis Chief Financial Officer Euroseas Ltd. 11 Canterbury Lane, Watchung, NJ 07069 Tel. This rate will be applied starting October 23rd, 2020. Shareholder yield, a measure of how much is returned to shareholders via dividends and share repurchases, for ESEA comes in at -556.77% -- higher than that of merely 0.96% of stocks in … Forward Looking Statement This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. To see all exchange delays and terms of use, please see disclaimer. ATHENS, Greece, Sept. 21, 2020 (GLOBE NEWSWIRE) -- Euroseas Ltd. (NASDAQ: ESEA, the “Company” or “Euroseas”), an owner and operator of container carrier vessels and provider of seaborne tran... Euroseas Ltd. (ESEA) CEO Aristides Pittas on Q2 2020 Results - Earnings Call Transcript. General and administrative expenses amounted to $0.8 million for the second quarter of 2020 marginally higher compared to $0.7 million for the second quarter of 2019. As of 9/17/2020 the Contex-4,250 index stands at $15,369 and is subject to change every Tuesday and Thursday each week.In addition to the above, the company signed an agreement to sell C/V Ninos, a 1,169 teu vessel, built in 1990 for scrap for approximately $2.36m gross.
Adjusted EBITDA for the second quarter of 2020 was $4.4 million compared to $1.6 million achieved during the second quarter of 2019.Basic and diluted earnings per share attributable to common shareholders for the second quarter of 2020 was $0.20 calculated on 5,576,960 basic and diluted weighted average number of shares outstanding, compared to basic and diluted loss per share of $1.12 for the second quarter of 2019, calculated on 1,542,508 basic and diluted weighted average number of shares outstanding. Conference Call details: Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 1 (877) 553-9962 (US Toll Free Dial In), 0(808) 238-0669 (UK Toll Free Dial In) or +44 (0) 2071 928592 (Standard International Dial In).
Euroseas (ESEA) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Furthermore, the Company agreed with the holders of its Series B Preferred Shares to have the option of paying the quarterly dividends in-kind, for the period from April 1, 2020 to January 29, 2021, by issuing additional Series B Preferred Shares and increasing the dividend rate to 9% (from 8%) if paid in-kind.During July 2020, the Company completed the sale of three of its vessels, M/V Manolis P, M/V EM Oinousses and M/V Kuo Hsiung for a total of approximately $7.6 million of net proceeds of which $7.0 million was used to repay the outstanding loans of the vessels.
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