EuroDry saw higher earnings for the fourth quarter on improved revenue, beating Wall Street consensus as it looks toward growing its fleet.

The Aristides Pittas-led owner of seven dry bulk vessels posted $1.02m in net income attributable to common shareholders versus $0.56m for the year-ago period.

Revenue improved to $7.6m from $6.99m due to higher average number of vessels compared to the same period of 2018.

Operating expenses came in at $5.6m versus $4.98m, while other expenses fell to $0.62m