Euroseas Ltd
NASDAQ:ESEA
Income Statement
Earnings Waterfall
Euroseas Ltd
Income Statement
Euroseas Ltd
| Sep-2006 | Dec-2006 | Mar-2007 | Jun-2007 | Sep-2007 | Dec-2007 | Mar-2008 | Jun-2008 | Sep-2008 | Dec-2008 | Mar-2009 | Jun-2009 | Sep-2009 | Dec-2009 | Mar-2010 | Jun-2010 | Sep-2010 | Dec-2010 | Mar-2011 | Jun-2011 | Sep-2011 | Dec-2011 | Mar-2012 | Jun-2012 | Sep-2012 | Dec-2012 | Mar-2013 | Jun-2013 | Sep-2013 | Dec-2013 | Dec-2014 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | Dec-2024 | Mar-2025 | Jun-2025 | Sep-2025 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Expense |
3
|
3
|
4
|
4
|
5
|
5
|
5
|
4
|
4
|
3
|
2
|
2
|
2
|
1
|
1
|
1
|
2
|
1
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
1
|
1
|
1
|
2
|
1
|
3
|
2
|
2
|
2
|
2
|
2
|
3
|
3
|
3
|
3
|
3
|
3
|
4
|
4
|
4
|
4
|
4
|
3
|
3
|
3
|
3
|
4
|
4
|
5
|
5
|
5
|
6
|
6
|
7
|
8
|
10
|
11
|
13
|
15
|
15
|
|
| Revenue |
38
N/A
|
40
+5%
|
45
+11%
|
50
+12%
|
62
+25%
|
82
+31%
|
101
+23%
|
120
+19%
|
134
+12%
|
126
-6%
|
109
-14%
|
89
-18%
|
71
-20%
|
64
-10%
|
62
-2%
|
61
-2%
|
56
-8%
|
53
-7%
|
53
+1%
|
55
+4%
|
59
+7%
|
61
+4%
|
61
-1%
|
58
-5%
|
55
-5%
|
53
-5%
|
49
-6%
|
46
-6%
|
42
-9%
|
39
-6%
|
41
+4%
|
38
-7%
|
15
-59%
|
23
+48%
|
30
+32%
|
21
-32%
|
30
+47%
|
25
-18%
|
23
-6%
|
24
+2%
|
28
+19%
|
32
+11%
|
34
+8%
|
34
+1%
|
30
-13%
|
33
+10%
|
35
+6%
|
40
+15%
|
47
+18%
|
53
+12%
|
55
+4%
|
53
-2%
|
52
-2%
|
57
+9%
|
68
+19%
|
94
+39%
|
125
+33%
|
155
+24%
|
178
+15%
|
183
+3%
|
179
-2%
|
178
0%
|
183
+3%
|
189
+3%
|
194
+3%
|
252
+30%
|
255
+1%
|
213
-17%
|
269
+26%
|
221
-18%
|
224
+1%
|
|
| Gross Profit | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cost of Revenue |
(2)
|
(1)
|
(1)
|
(1)
|
(1)
|
(7)
|
(4)
|
(6)
|
(8)
|
(9)
|
(6)
|
(5)
|
(4)
|
(3)
|
(4)
|
(5)
|
(5)
|
(8)
|
(8)
|
(8)
|
(7)
|
(4)
|
(3)
|
(3)
|
(3)
|
(3)
|
(4)
|
(5)
|
(6)
|
(4)
|
(2)
|
(2)
|
(2)
|
(3)
|
(4)
|
(3)
|
(4)
|
(3)
|
(2)
|
(2)
|
(4)
|
(2)
|
(4)
|
(4)
|
(2)
|
(4)
|
(3)
|
(3)
|
(3)
|
(4)
|
(4)
|
(1)
|
(2)
|
(1)
|
(4)
|
(4)
|
(7)
|
(7)
|
(8)
|
(10)
|
(11)
|
(11)
|
(7)
|
(3)
|
(10)
|
(11)
|
(12)
|
(11)
|
(8)
|
(8)
|
(10)
|
|
| Gross Profit |
37
N/A
|
39
+7%
|
44
+12%
|
49
+13%
|
61
+25%
|
75
+23%
|
97
+29%
|
114
+18%
|
126
+10%
|
117
-7%
|
102
-13%
|
84
-18%
|
67
-21%
|
60
-10%
|
58
-3%
|
56
-4%
|
51
-9%
|
44
-13%
|
44
+0%
|
47
+5%
|
52
+11%
|
58
+11%
|
58
+1%
|
55
-4%
|
53
-5%
|
50
-6%
|
45
-9%
|
41
-10%
|
36
-12%
|
35
-2%
|
39
+10%
|
36
-7%
|
14
-61%
|
19
+41%
|
26
+33%
|
17
-34%
|
26
+51%
|
22
-14%
|
21
-5%
|
22
+2%
|
25
+15%
|
29
+17%
|
30
+4%
|
30
+0%
|
28
-8%
|
29
+4%
|
32
+10%
|
37
+17%
|
44
+17%
|
49
+12%
|
51
+5%
|
53
+4%
|
50
-4%
|
56
+11%
|
64
+15%
|
90
+40%
|
118
+32%
|
148
+25%
|
170
+15%
|
173
+2%
|
168
-3%
|
168
0%
|
176
+5%
|
186
+6%
|
184
-1%
|
234
+27%
|
236
+1%
|
202
-14%
|
255
+26%
|
213
-17%
|
214
+1%
|
|
| Operating Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating Expenses |
(19)
|
(21)
|
(23)
|
(26)
|
(32)
|
(40)
|
(51)
|
(60)
|
(66)
|
(65)
|
(62)
|
(58)
|
(53)
|
(51)
|
(50)
|
(48)
|
(47)
|
(48)
|
(49)
|
(51)
|
(53)
|
(53)
|
(53)
|
(52)
|
(51)
|
(51)
|
(50)
|
(51)
|
(50)
|
(55)
|
(50)
|
(46)
|
(20)
|
(27)
|
(35)
|
(24)
|
(34)
|
(28)
|
(25)
|
(23)
|
(27)
|
(28)
|
(29)
|
(29)
|
(23)
|
(28)
|
(30)
|
(35)
|
(40)
|
(42)
|
(45)
|
(46)
|
(43)
|
(42)
|
(41)
|
(44)
|
(48)
|
(54)
|
(61)
|
(67)
|
(66)
|
(68)
|
(70)
|
(74)
|
(76)
|
(78)
|
(80)
|
(88)
|
(90)
|
(91)
|
(91)
|
|
| Selling, General & Administrative |
(3)
|
(10)
|
(4)
|
(4)
|
(5)
|
(6)
|
(8)
|
(9)
|
(10)
|
(9)
|
(11)
|
(11)
|
(10)
|
(9)
|
(9)
|
(9)
|
(8)
|
(23)
|
(8)
|
(8)
|
(9)
|
(26)
|
(9)
|
(9)
|
(9)
|
(26)
|
(9)
|
(8)
|
(8)
|
(25)
|
(26)
|
(25)
|
(4)
|
(5)
|
(7)
|
(5)
|
(7)
|
(6)
|
(5)
|
(5)
|
(6)
|
(6)
|
(6)
|
(6)
|
(5)
|
(6)
|
(6)
|
(22)
|
(7)
|
(8)
|
(8)
|
(31)
|
(8)
|
(8)
|
(7)
|
(28)
|
(8)
|
(8)
|
(9)
|
(35)
|
(10)
|
(10)
|
(10)
|
(38)
|
(11)
|
(11)
|
(12)
|
(45)
|
(14)
|
(14)
|
(14)
|
|
| Depreciation & Amortization |
(6)
|
(7)
|
(8)
|
(10)
|
(13)
|
(16)
|
(23)
|
(27)
|
(30)
|
(28)
|
(26)
|
(23)
|
(20)
|
(19)
|
(19)
|
(19)
|
(18)
|
(18)
|
(18)
|
(18)
|
(18)
|
(18)
|
(18)
|
(18)
|
(18)
|
(17)
|
(17)
|
(17)
|
(17)
|
(20)
|
(12)
|
(11)
|
(5)
|
(7)
|
(9)
|
(5)
|
(9)
|
(6)
|
(5)
|
(4)
|
(4)
|
(3)
|
(3)
|
(3)
|
(2)
|
(3)
|
(3)
|
(4)
|
(5)
|
(6)
|
(7)
|
(7)
|
(6)
|
(6)
|
(6)
|
(7)
|
(9)
|
(12)
|
(16)
|
(19)
|
(20)
|
(22)
|
(22)
|
(23)
|
(23)
|
(24)
|
(25)
|
(26)
|
(29)
|
(29)
|
(29)
|
|
| Other Operating Expenses |
(10)
|
(3)
|
(11)
|
(12)
|
(14)
|
(17)
|
(21)
|
(24)
|
(26)
|
(28)
|
(26)
|
(24)
|
(23)
|
(24)
|
(22)
|
(21)
|
(21)
|
(6)
|
(23)
|
(25)
|
(26)
|
(9)
|
(26)
|
(26)
|
(25)
|
(8)
|
(25)
|
(25)
|
(25)
|
(10)
|
(12)
|
(10)
|
(10)
|
(15)
|
(19)
|
(14)
|
(18)
|
(16)
|
(15)
|
(15)
|
(17)
|
(19)
|
(20)
|
(20)
|
(17)
|
(19)
|
(21)
|
(9)
|
(27)
|
(28)
|
(30)
|
(9)
|
(28)
|
(28)
|
(28)
|
(9)
|
(31)
|
(34)
|
(36)
|
(13)
|
(36)
|
(37)
|
(38)
|
(13)
|
(42)
|
(43)
|
(44)
|
(16)
|
(48)
|
(48)
|
(47)
|
|
| Operating Income |
17
N/A
|
18
+5%
|
21
+16%
|
24
+11%
|
30
+27%
|
36
+19%
|
46
+30%
|
54
+17%
|
60
+10%
|
52
-14%
|
40
-22%
|
27
-34%
|
14
-49%
|
9
-34%
|
8
-9%
|
8
-7%
|
4
-52%
|
(3)
N/A
|
(5)
-45%
|
(4)
+2%
|
(1)
+68%
|
4
N/A
|
5
+11%
|
3
-33%
|
2
-49%
|
(2)
N/A
|
(5)
-233%
|
(10)
-83%
|
(14)
-45%
|
(20)
-41%
|
(11)
+44%
|
(10)
+8%
|
(6)
+44%
|
(7)
-30%
|
(9)
-22%
|
(7)
+25%
|
(8)
-20%
|
(5)
+35%
|
(4)
+21%
|
(2)
+62%
|
(2)
-19%
|
1
N/A
|
1
+34%
|
1
-30%
|
5
+424%
|
1
-83%
|
2
+90%
|
2
+14%
|
4
+120%
|
7
+70%
|
6
-9%
|
7
+8%
|
8
+9%
|
13
+77%
|
23
+67%
|
46
+103%
|
70
+54%
|
93
+33%
|
109
+17%
|
107
-2%
|
103
-4%
|
100
-3%
|
106
+6%
|
112
+6%
|
108
-4%
|
115
+7%
|
115
0%
|
114
-1%
|
124
+9%
|
121
-2%
|
123
+1%
|
|
| Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Income Expense |
(2)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(2)
|
(0)
|
(0)
|
0
|
2
|
(6)
|
(6)
|
(0)
|
(13)
|
(5)
|
(8)
|
(6)
|
(2)
|
(3)
|
(1)
|
(4)
|
(4)
|
(4)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(4)
|
(3)
|
(3)
|
(1)
|
(16)
|
(17)
|
(3)
|
(4)
|
10
|
11
|
(2)
|
(2)
|
(2)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(4)
|
(5)
|
(5)
|
(5)
|
(4)
|
(3)
|
(2)
|
(3)
|
(1)
|
(2)
|
(0)
|
(0)
|
(3)
|
(1)
|
(3)
|
(5)
|
(4)
|
(6)
|
(8)
|
(7)
|
(11)
|
(12)
|
(12)
|
|
| Non-Reccuring Items |
4
|
4
|
8
|
6
|
3
|
3
|
0
|
0
|
0
|
(25)
|
(25)
|
(25)
|
(25)
|
(9)
|
(9)
|
(9)
|
(7)
|
2
|
2
|
2
|
2
|
1
|
(8)
|
(8)
|
(9)
|
(8)
|
(0)
|
(3)
|
(2)
|
(80)
|
(4)
|
(1)
|
0
|
(3)
|
(4)
|
(24)
|
(31)
|
(30)
|
(32)
|
(4)
|
(4)
|
(3)
|
2
|
1
|
0
|
0
|
0
|
(0)
|
0
|
0
|
1
|
2
|
2
|
2
|
1
|
0
|
0
|
0
|
0
|
0
|
5
|
5
|
7
|
7
|
2
|
8
|
6
|
6
|
16
|
10
|
10
|
|
| Gain/Loss on Disposition of Assets |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(1)
|
0
|
(1)
|
(0)
|
1
|
0
|
1
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Total Other Income |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(6)
|
(5)
|
(5)
|
(5)
|
(15)
|
(10)
|
(10)
|
(10)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Pre-Tax Income |
20
N/A
|
20
+0%
|
26
+30%
|
26
-1%
|
30
+16%
|
37
+21%
|
45
+23%
|
54
+21%
|
59
+9%
|
22
-64%
|
12
-45%
|
(9)
N/A
|
(22)
-132%
|
(16)
+28%
|
(23)
-45%
|
(17)
+27%
|
(22)
-33%
|
(7)
+70%
|
(4)
+36%
|
(5)
-12%
|
(1)
+81%
|
1
N/A
|
(7)
N/A
|
(9)
-20%
|
(10)
-16%
|
(13)
-31%
|
(9)
+33%
|
(16)
-84%
|
(19)
-18%
|
(103)
-435%
|
(18)
+83%
|
(14)
+22%
|
(7)
+52%
|
(26)
-283%
|
(31)
-18%
|
(34)
-12%
|
(44)
-28%
|
(24)
+44%
|
(25)
-4%
|
(7)
+73%
|
(8)
-16%
|
(4)
+50%
|
1
N/A
|
(1)
N/A
|
3
N/A
|
(2)
N/A
|
(1)
+34%
|
(2)
-16%
|
0
N/A
|
2
+700%
|
3
+16%
|
4
+48%
|
6
+47%
|
13
+113%
|
21
+66%
|
43
+107%
|
69
+61%
|
92
+33%
|
109
+18%
|
106
-2%
|
105
-1%
|
103
-2%
|
110
+7%
|
115
+4%
|
106
-8%
|
118
+11%
|
114
-4%
|
113
-1%
|
130
+16%
|
119
-9%
|
121
+1%
|
|
| Net Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tax Provision |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Income from Continuing Operations |
20
|
20
|
26
|
26
|
30
|
37
|
45
|
54
|
59
|
22
|
12
|
(9)
|
(22)
|
(16)
|
(23)
|
(17)
|
(22)
|
(7)
|
(4)
|
(5)
|
(1)
|
1
|
(7)
|
(9)
|
(10)
|
(13)
|
(9)
|
(16)
|
(19)
|
(103)
|
(18)
|
(14)
|
(7)
|
(26)
|
(31)
|
(34)
|
(44)
|
(24)
|
(25)
|
(7)
|
(8)
|
(4)
|
1
|
(1)
|
3
|
(2)
|
(1)
|
(2)
|
0
|
2
|
3
|
4
|
6
|
13
|
21
|
43
|
69
|
92
|
109
|
106
|
105
|
103
|
110
|
115
|
106
|
118
|
114
|
113
|
130
|
119
|
121
|
|
| Net Income (Common) |
20
N/A
|
20
+0%
|
26
+30%
|
26
-1%
|
30
+16%
|
37
+21%
|
45
+23%
|
54
+21%
|
59
+9%
|
22
-64%
|
12
-45%
|
(9)
N/A
|
(22)
-132%
|
(16)
+28%
|
(23)
-45%
|
(17)
+27%
|
(22)
-33%
|
(7)
+70%
|
(4)
+36%
|
(5)
-12%
|
(1)
+81%
|
1
N/A
|
(7)
N/A
|
(9)
-20%
|
(10)
-16%
|
(13)
-31%
|
(9)
+33%
|
(16)
-84%
|
(19)
-18%
|
(103)
-435%
|
(19)
+81%
|
(16)
+19%
|
(8)
+51%
|
(27)
-257%
|
(32)
-18%
|
(46)
-42%
|
(45)
+1%
|
(27)
+40%
|
(27)
-1%
|
(8)
+71%
|
(9)
-13%
|
(5)
+41%
|
0
N/A
|
(1)
N/A
|
2
N/A
|
(2)
N/A
|
(3)
-28%
|
(4)
-27%
|
(1)
+66%
|
2
N/A
|
2
+21%
|
3
+64%
|
5
+55%
|
12
+126%
|
20
+73%
|
42
+112%
|
69
+62%
|
92
+34%
|
109
+18%
|
106
-2%
|
105
-1%
|
103
-2%
|
110
+7%
|
115
+4%
|
106
-8%
|
118
+11%
|
114
-4%
|
113
-1%
|
130
+16%
|
119
-9%
|
121
+1%
|
|
| EPS (Diluted) |
125.24
N/A
|
100.5
-20%
|
124.42
+24%
|
113
-9%
|
100.33
-11%
|
121.66
+21%
|
117.99
-3%
|
142.23
+21%
|
155.34
+9%
|
53.75
-65%
|
31.02
-42%
|
-23.76
N/A
|
-56.68
-139%
|
-39
+31%
|
-57.84
-48%
|
-42.51
+27%
|
-56.33
-33%
|
-16.49
+71%
|
-10.76
+35%
|
-11.75
-9%
|
-2.33
+80%
|
2.75
N/A
|
-18.58
N/A
|
-20.16
-9%
|
-17.68
+12%
|
-26.4
-49%
|
-15.56
+41%
|
-28.18
-81%
|
-33.91
-20%
|
-172.33
-408%
|
-27.71
+84%
|
-19.62
+29%
|
-7.54
+62%
|
-26.98
-258%
|
-31.61
-17%
|
-45.9
-45%
|
-33.08
+28%
|
-19.27
+42%
|
-19.75
-2%
|
-5.64
+71%
|
-6.44
-14%
|
-3.72
+42%
|
0.19
N/A
|
-1
N/A
|
1.14
N/A
|
-0.55
N/A
|
-0.84
-53%
|
-1.21
-44%
|
-0.21
+83%
|
0.28
N/A
|
0.34
+21%
|
0.58
+71%
|
0.75
+29%
|
1.71
+128%
|
2.76
+61%
|
6.06
+120%
|
9.48
+56%
|
12.65
+33%
|
15.07
+19%
|
14.75
-2%
|
15.07
+2%
|
14.82
-2%
|
15.89
+7%
|
16.52
+4%
|
15.18
-8%
|
16.89
+11%
|
16.26
-4%
|
16.2
0%
|
18.68
+15%
|
17.13
-8%
|
17.31
+1%
|
|