ZIM - Euroseas: Post-Earnings Sell-Off Provides Decent Buying Opportunity

• Company reports Q3 results below expectations mostly due to higher insurance premiums, increased drydocking expense and elevated COVID-related crewing costs.
• Discussing latest fleet additions and charter contracts.
• At current charter rates, adjusted EBITDA for FY2022 would calculate to approximately $135 million, a year-over-year increase of almost 150%.
• Cash flow from operations for the next two years could be well in excess of $200 million, higher than the company's current market capitalization.
• Get long Euroseas due to discounted valuation and strong outlook with a short-term price target of $35 going into the company's Q4 earnings release in February.

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