ESEA Euroseas

Container Β· Container Β· 39 documents

Euroseas' 21-vessel container fleet has no forward estimate this quarter. The fleet is chartered out at fixed rates, so there is no spot market to price the open days against.

Last paid Β· 2026Q2
$0.80
4.8% annualised
$30,306/d earned
TTM $3.05 (4.6% trailing)

Yields annualise each quarter Γ—4 at the last close, $66.17 (2026-10-16). Our model is not company guidance.

Rates in, dividend out 2026Q3

Model Your scenario

Set a rate per vessel class and the statement below re-prices: our model’s figures in one column, yours beside them. These are your numbers, not our forecast and not company guidance; nothing you set is saved.

Latest rates

ClassCompany earnedBooked 2026Q3Market now8 weeks
Container Β· 21 $30,3062026Q2 Β· fleet avg β€”none printed β€”no open $/day series

Company earned: the issuer’s own reported TCE (linked). Booked: cover the issuer printed for 2026Q3. Market now: the median across the broker route prints we hold for the class β€” a derived blend, not a vendor index; the trend is rebased to 100 eight weeks ago.

Your rates every day is at your rate

This company files vessel-days but no rate per class, so every class starts at the last reported fleet rate of $30,306/d.

Container 1,932 open days

2026Q3 P&L and cash

LineModelYour scenarioΞ”
Vessel-days, days modelled

Ships on the fleet list Γ— the quarter's calendar days for container: no off-hire or drydock days are deducted there.

 1,932 1,932
By class
ClassDaysModel $/dayYours $/day
Container1,93230,30630,306
Fleet TCE, $/day 30,306 30,306
Revenue (TCE basis), $m modelled

Vessel-days Γ— fleet TCE.

 58.6 58.6
Vessel opex, $m assumed

2026Q2: $11.6m over 1,932 vessel-days, held per day. Source (2026Q2)

 (11.6) (11.6)
G&A, $m assumed

2026Q2: $3.7m over 1,932 vessel-days, held per day. Source (2026Q2)

 (3.7) (3.7)
EBITDA, $m assumed 43.2 43.2
Hire for chartered-in ships, $m

Not on file for any quarter (not extracted, or not disclosed).

 β€” β€”
Interest expense, $m assumed

2026Q2: $2.7m over 1,932 vessel-days, held per day. Source (2026Q2)

 (2.7) (2.7)
Scheduled debt amortisation, $m stated

2026Q2: $4.5m over 1,932 vessel-days, held per day (the issuer’s scheduled principal). Source (2026Q2)

 (4.5) (4.5)
Drydock cost, $m

No separate drydock cash line on file.

 β€” β€”
Cash break-even, $/day assumed

Ξ£ cash costs above Γ· vessel-days.

 11,674 11,674
Cushion vs fleet TCE, $/day 18,632 18,632
Free cash flow to equity, $m assumed

Revenue βˆ’ cash costs: the cash available for distribution.

 36.0 36.0
Maintenance capex, $m

Not disclosed as a cash line; not in the model’s cash.

 β€”

Dividend policy

No stated payout policy on file.

OutputModelYour scenarioΞ”
Estimated DPS, $/share β€”
Forward yield, run-rate % β€”
vs last declared ($0.80, 2026Q2) β€”

Yield annualises the quarter’s DPS Γ— 4 (a run-rate, not a forecast of the year) against the $66.17 close on 2026-10-16.

No dividend is modelled for 2026Q3: no market rate series or issuer guidance prices this fleet's vessel classes.

Showing the model’s own figures. Setting your own rates needs JavaScript.

Dividend per share declared Β· model

$0.702025Q3$0.752025Q4$0.802026Q1$0.802026Q2solid = declared Β· dashed = our model

Why no forward dividend next step: a fleet rate

This page prices a fleet, takes off its cash costs and debt service, and measures what is left against the payout. The step it cannot take today: no market rate series or issuer guidance prices this fleet's vessel classes. An issuer-guided fleet rate, or a market series covering the classes, unblocks it.

What is on file:

Every company's position on the modelling chain, and what each page can and cannot answer yet: coverage.

Market context β€” rates, the dividend, and the price

Dividend β€” declared

0
0.4
0.8
2025Q3
2025Q4
2026Q1
2026Q2
2025Q3 rec 2025-12-09 Β· pay 2025-12-16 2025Q4 rec 2026-03-10 Β· pay 2026-03-17 2026Q1 rec 2026-06-09 Β· pay 2026-06-16 2026Q2 rec 2026-09-09 Β· pay 2026-09-16

Solid bars are declared distributions.

Next-quarter fleet TCE: β€” (container: charter-out fleet earns fixed TC per the fleet list (owner 2026-09-05) β€” no lane spot proxy, estimate stays dark without issuer fixed-coverage guidance)

How we got the number

Dividend history & forecast accuracy

PeriodDPSKindEx-datePay dateSource
2026-Q2 $0.80/share regular β€” 2026-09-16 as of 2026-08-14 declaration
2026-Q1 $0.80/share regular β€” 2026-06-16 as of 2026-05-21 declaration
2025-Q4 $0.75/share regular β€” 2026-03-17 as of 2026-02-26 declaration
2025-Q3 $0.70/share regular β€” 2025-12-16 as of 2025-10-30 declaration
2025-Q2 $0.70/share regular β€” 2025-09-16 as of 2025-08-13 declaration
2025-Q1 $0.65/share regular β€” 2025-07-16 as of 2025-06-20 declaration
2024-Q4 $0.65/share regular β€” 2025-03-18 as of 2025-05-15 declaration
2023-Q4 $0.60/share regular β€” β€” as of 2025-05-15 declaration
Older dividends (1 more)
PeriodDPSKindEx-datePay dateSource
2022-Q1 $0.50/share regular β€” β€” as of 2025-05-15 declaration

Financials & fleet

Latest quarter 2026Q2 2 qtrs old

Fleet
21
Realized TCE
$30,306/d 2026Q2
Declared DPS
$0.80 2026Q2
TTM DPS
$3.05
Coverage
β€”
Revenue
$56.5M
Opex
$11.6M
Net income
$33.2M

21Γ— container current

Fleet model β€” 2026Q3

Fleet model estimate β€” not issuer guidance.

ClassShipsTCSpot% FixedGuided $/dSpot $/dBlended $/dVessel-daysRev $M
Container21β€”β€” β€” β€” β€” β€” 1,932 β€”
Total21 β€” 1,932 β€”

Bear uses booked coverage only; Base prices open vessels at the company's own last realized fleet rate β€” no market index covers this fleet, so there is no peak-index Bull case.

Expected DPS suppressed: no verbatim payout policy located in the corpus β€” the cash walk cannot derive a DPS without a payout policy.

Expected DPS suppressed: no verbatim payout policy located in the corpus.

Current quarter β€” 2026Q4

20/92 days elapsed (22%) Β· Est. revenue to date $12.7M of $58.6M projected

ClassShipsTCSpot% FixedGuided $/dCurrent $/dvs guidedBlended $/dRev $M
Container21β€”β€” β€” β€” β€” β€” β€” β€”
Total21 β€” β€”

Profit statement highlights

Line2026Q22026Q1YoY Ξ”
Revenue $56.5M β€” β€”
Opex $11.6M β€” β€”
Net income $33.2M β€” β€”

reconciliation: insufficient data for an earnings bridge (2026Q2) earnings bridge incomplete β€” treat income-derived figures as provisional

Full P&L grid β€” 6 quarters
Line item2026Q22026Q12025Q42025Q32025Q22025Q1
Revenue $M56.5β€”β€”β€”β€”β€”
Voyage expenses $Mβ€”β€”β€”β€”β€”β€”
Vessel opex $M11.6β€”β€”β€”β€”β€”
G&A $M3.7β€”β€”β€”β€”β€”
Depreciation $Mβ€”β€”β€”β€”β€”β€”
Interest expense, gross $M2.7β€”β€”β€”β€”β€”
Net income $M33.2β€”β€”β€”β€”β€”
Declared DPS0.800.800.750.700.700.65

Realized fleet TCE

Realized fleet TCE versus benchmark: 1 points, 2026-04-01 to 2026-04-01; Realized fleet TCE latest 30,306.00.

image/svg+xml 2025 2026 2027 2028 29,000 29,500 30,000 30,500 31,000 31,500 30,306 Realized fleet TCE USD/day

Benchmark comparison will appear once issuer-printed benchmark data is available.

Guidance & sources

Issuer guidance β€” forward-looking

PeriodMetricValueCoverageAs ofSource
2027FYContainer charters expiring (vessels) 6 vessels β€” 2026-08-25 print
2028FYContainer charters expiring (vessels) 8 vessels β€” 2026-08-25 print
2029FYContainer charters expiring (vessels) 5 vessels β€” 2026-08-25 print
Historical guidance (1 rows)
PeriodMetricValueCoverageAs ofSource
2026FYContainer charters expiring (vessels) 2 vessels β€” 2026-08-25 print
Sources β€” press, filings & documents

Press & filings by quarter

QuarterReportPresentationDividendOther
2026Q4 6-K, FORM 6-K β€” β€” β€”
2026Q3 6-K, 6-K, 6-K β€” β€” β€”
2026Q2 6-K, 6-K exhibit, 6-K exhibit, 6-K, 6-K, 6-K, 6-K, FORM 20-F, 6-K β€” β€” β€”
2026Q1 6-K, 6-K, 6-K β€” β€” β€”
2025Q4 6-K, 6-K, FORM 6-K, FORM 6-K β€” β€” β€”
2025Q3 6-K, 6-K, 6-K, 6-K, 6-K β€” β€” β€”
2025Q2 6-K, 6-K, 6-K, FORM 20-F, 6-K β€” β€” β€”
2025Q1 6-K, 6-K, 6-K, 6-K, 6-K, 6-K, 6-K, 6-K β€” β€” β€”

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