Euroholdings (EHLD) Q4 2025 earnings summary

Executive summary

• Completed first full year as an independent, publicly listed company after spin-off from Euroseas in March 2025, operating two containerships and acquiring a modern MR product tanker in November 2025.

• Strategic partnership formed with Marla Investments, which acquired a 51% stake in June 2025, providing a stable ownership base.

• Announced and initiated a strategic shift from containerships to tankers, with plans for further expansion in the MR product tanker segment.

• Declared four consecutive quarterly dividends of $0.14/share, maintaining an annualized yield of approximately 8%.

Financial highlights

• Q4 2025 net revenues were $4.48 million, with net income of $1.27 million and adjusted EBITDA of $1.6 million.

• Full-year 2025 net revenues reached $13.23 million, net income $14.71 million, and adjusted EBITDA $4.69 million.

• Basic and diluted EPS for 2025 was $5.25; adjusted EPS, excluding vessel sale gain, was $1.60.

• $10.23 million gain from the sale of motor vessel Diamantis significantly boosted annual net income.

• Q4 2025 average TCE rates rose to $18,778/day, up 17.5% year-over-year.

Outlook and guidance

• Plans to expand the MR product tanker fleet using a mix of debt, existing equity, and potential new equity.

• Feeder containerships expected to remain profitable through at least October 2026, with potential for continued employment or re-chartering above $9,500/day.

• Positive medium-term outlook for tankers, supported by aging fleets, limited order books, and firming demand.