Euroseas Ltd. (ESEA) released earnings for its first quarter that increased from last year and beat the Street estimates.
The company's bottom line totaled $36.91 million, or $5.29 per share. This compares with $20.00 million, or $2.87 per share, last year.
Excluding items, Euroseas Ltd. reported adjusted earnings of $26.19 million or $3.76 per share for the period.
Analysts on average had expected the company to earn $3.1 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 20.6% to $56.34 million from $46.71 million last year.
Euroseas Ltd. earnings at a glance (GAAP) :
-Earnings: $36.91 Mln. vs. $20.00 Mln. last year.
-EPS: $5.29 vs. $2.87 last year.
-Revenue: $56.34 Mln vs. $46.71 Mln last year.
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