The Philippine central bank cut rates at its first meeting of the year, a widely expected move as weak growth underlines the need for more economic support.
Bangko Sentral ng Pilipinas lowered its benchmark overnight reverse repurchase rate by 25 basis points to 4.25% from 4.50% on Thursday, delivering a sixth straight round of easing. It reduced its benchmark lending rate to 4.75% from 5.00%.
| Revenue of $18.49M (20.12% Y/Y) beats by $723.19K
EuroDry Ltd. (EDRY) Q4 2025 Earnings Call February 20, 2026 8:00 AM EST
Company Participants
Aristides Pittas – Chairman, President & CEO Anastasios Aslidis – CFO, Treasurer & Director
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Conference Call Participants
Tate Sullivan – Maxim Group LLC, Research Division Hans Baldau – NOBLE Capital Markets, Inc., Research Division Charles Fratt – Alliance Global Partners, Research Division
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Presentation
Operator
Thank you for standing by, ladies and gentlemen, and welcome to EuroDry Limited Conference Call for the Fourth Quarter 2025 Financial Results. We have with us today Mr. Aristides Pittas, Chairman and Chief Executive Officer; and Mr. Anastasios Aslidis, Chief Financial Officer of the company. [Operator Instructions] I must advise you that this conference is being recorded today. Please be reminded that the company announced its results with a press release that has been publicly distributed.
Before passing the floor to Mr. Pittas, I would like to remind everybody that in today’s presentation and conference call, EuroDry will be making forward-looking statements. These statements are within the meaning of the federal securities laws. Matters discussed may be forward-looking statements, which are based on current management expectations that involve risks and uncertainties that may result in such expectations not being realized. I kindly draw your attention to Slide #2 on the webcast presentation, which has the full forward-looking statement, and the same statement was also included in the press release. Please take a moment to go through the whole statement and read it. I would now like to turn the floor over to Mr. Pittas. Please go ahead, sir.
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Aristides Pittas Chairman, President & CEO
Good morning, ladies and gentlemen, and thank you all for joining us today for our scheduled conference call. Together with me is Tasos Aslidis, our Chief Financial Officer. The purpose of today’s call is to discuss our financial results for the 3- and 12-month
The Ford Ranger has reclaimed its position as Australia’s best-selling vehicle in the opening month of 2026, underscoring the enduring popularity of utes and SUVs amid a market showing modest growth and shifting preferences toward electrified options and Chinese brands.
According to VFACTS data released by the Federal Chamber of Automotive Industries, new vehicle sales totaled 87,753 in January 2026, a slight 0.1% increase from the previous year despite comparisons complicated by 2025 port strikes and biosecurity delays. SUVs commanded 61.2% of the market, light commercials held 20.5%, passenger cars 15.5% and heavy commercials the remainder.
The top 10 models for January 2026 reflect a blend of traditional favorites and rising challengers:
Ford Ranger
Ford Ranger — 3,403 units (down 20% year-on-year) Australia’s perennial ute king reclaimed the crown despite a dip, buoyed by its rugged capability, towing prowess and widespread appeal for work and leisure. The Ranger accounted for over half of Ford’s January sales, highlighting its dominance in the light commercial segment.
Toyota HiLux — 2,800 units (down 15.2%) The iconic HiLux trailed closely, impacted by the gradual rollout of its new generation. It remains a staple for tradies and rural buyers, though competition from the Ranger and emerging Chinese utes pressures its long-held status.
Mazda CX-5 — 2,289 units (up 22.3%) A surprise podium finisher and the top SUV, the CX-5 delivered its strongest January performance in years. The outgoing model benefits from strong demand ahead of its refresh later in 2026, appealing with refined handling, premium interior and fuel efficiency.
Chery Tiggo 4 — 2,234 units (up 119.4%) Chinese brands surged, with Chery’s compact SUV hitting an all-time high ranking. Aggressive pricing, generous features and growing dealer networks propelled the Tiggo 4 into the top five, signaling accelerating acceptance of Chinese vehicles.
Mitsubishi Outlander — 1,975 units (down 5.5%) The PHEV-equipped Outlander maintained solid momentum in the electrified space, benefiting from Australia’s rising interest in plug-in hybrids, which soared 170.5% to 5,161 units market-wide.
Ford Everest — 1,913 units (up 13.9%) The body-on-frame SUV outsold rivals like the Toyota Prado, offering family-friendly seating, off-road ability and diesel efficiency that resonate with Australian buyers.
Hyundai Kona — 1,839 units (up 41.4%) The compact crossover climbed sharply, fueled by its stylish design, tech features and hybrid/EV variants appealing to urban drivers.
Isuzu D-Max — 1,798 units (down 13.8%) The dependable ute held firm in the commercial segment, favored for its durability and value in fleet and rural applications.
GWM Haval Jolion — 1,789 units (up 39.1%) Another Chinese success story, the Jolion’s affordability and equipment levels continued to drive strong gains for GWM.
Toyota RAV4 — 1,757 units (down 65.4%) The former bestseller suffered as outgoing stock dwindled ahead of the new model’s March arrival, a transitional dip expected to reverse later in the year.
The list highlights key trends: utes and SUVs dominate, comprising eight of the top 10 spots. Chinese manufacturers like Chery and GWM posted explosive growth, with China-origin vehicles jumping 62.9% to claim 23.8% market share. Toyota, the overall brand leader with 14,310 sales (16.4% share), saw a 22.3% decline — its weakest in nearly three years — as models like the RAV4 transitioned.
Electrification accelerated: Battery electric vehicles rose 93.3% to 8.4% share, plug-in hybrids exploded and hybrids held steady at 17.4%. Brands like BYD surged dramatically (up 640.9% year-on-year, though from a low base affected by prior delays), climbing to sixth overall.
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State variations showed resilience in Victoria (+6.3%) and New South Wales (+2.3%), while Western Australia (-12.7%) and the Northern Territory (-18.1%) lagged. Private sales edged up modestly, but short-term rentals jumped 47%, inflating the headline figure.
Analysts note the market’s resilience despite economic pressures, with SUVs’ 61% share reflecting lifestyle shifts toward versatile, family-oriented vehicles. Chinese brands’ momentum challenges established players, potentially reshaping the top 10 as more models arrive and incentives evolve.
As 2026 unfolds, expect battles in key segments: the refreshed RAV4 challenging for SUV supremacy, new HiLux variants bolstering Toyota, and continued Chinese inroads. For now, the Ford Ranger’s lead affirms Australia’s love for capable utes, while diverse powertrains signal a market in transition.
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The North American Aerospace Defense Command (NORAD) scrambled U.S. fighter jets Thursday to intercept and escort five Russian military aircraft operating in the Alaskan Air Defense Identification Zone (ADIZ), a standard buffer area outside U.S. and Canadian sovereign airspace.
North American Aerospace Defense Command
NORAD detected and tracked two Tu-95 Bear long-range strategic bombers, two Su-35 Flanker fighter jets and one A-50 Mainstay airborne early warning and control aircraft in the Alaskan ADIZ on Feb. 19, according to a statement released late Thursday local time, which corresponds to Friday morning in some time zones. The Russian formation remained in international airspace and did not enter American or Canadian territory.
In response, NORAD launched two F-16 Fighting Falcons, two F-35 Lightning IIs, one E-3 Sentry airborne warning and control aircraft, and four KC-135 Stratotanker refueling planes to positively identify the intruders and escort them until they departed the zone. The mission unfolded without incident, and officials emphasized that such activity is routine.
“This Russian activity in the Alaskan ADIZ occurs regularly and is not seen as a threat,” NORAD stated. The command, a binational U.S.-Canadian organization headquartered at Peterson Space Force Base in Colorado, maintains constant vigilance over North American skies and is prepared to employ various response options to defend the continent.
The Alaskan ADIZ extends hundreds of miles beyond territorial boundaries, requiring aircraft to identify themselves for security monitoring. Russian long-range aviation patrols in the Bering Sea region — separating Siberia from Alaska — have been common for decades, often coinciding with exercises or routine flights. Similar intercepts occurred multiple times in 2025, including in September when four Russian aircraft were tracked and escorted, and in April when six planes including Tu-95s, Tu-142s, Su-35s and an A-50 were intercepted.
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Thursday’s encounter involved a mix of bombers capable of carrying nuclear payloads, agile fighters for escort and an A-50 for surveillance, reflecting a coordinated formation typical of Russian strategic aviation operations. The Tu-95, a propeller-driven turboprop bomber nicknamed “Bear” by NATO, dates to the Cold War era but remains a mainstay of Russia’s long-range strike capability. The supersonic Su-35 provides air superiority protection, while the A-50 serves as an airborne radar platform akin to the U.S. E-3.
U.S. aircraft involved represent a blend of legacy and fifth-generation platforms. The F-16, a multirole fighter, and the stealthy F-35, both operated by the Alaska Air National Guard’s 354th Fighter Wing at Eielson Air Force Base, handled the close escort duties. The E-3 provided command and control from aloft, and KC-135s ensured extended endurance for the interceptors.
No aggressive maneuvers or communications issues were reported, and the Russian planes departed the ADIZ as expected. NORAD did not disclose exact locations beyond the general Alaskan ADIZ, which covers vast expanses over the Bering Sea and Arctic approaches.
The incident drew quick media attention amid heightened global tensions, though military officials downplayed any provocative intent. Russian Defense Ministry spokespeople had not commented publicly as of Friday morning. Similar episodes rarely escalate, serving more as demonstrations of presence and capability testing than direct challenges.
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This latest intercept aligns with patterns observed since Russia’s full-scale invasion of Ukraine in 2022, when NORAD noted increased Russian activity in the Arctic and near North American shores. In 2025 alone, multiple releases detailed intercepts of Tu-95/Su-35 pairs and larger formations, often in international airspace west of Alaska.
Experts view these flights as part of Russia’s effort to maintain operational readiness, project power in the Arctic — a region of growing strategic importance due to melting ice opening new shipping routes and resource opportunities — and signal resolve amid strained relations with the West.
NORAD’s response underscores the binational command’s effectiveness in aerospace warning and control. Established in 1957 during the Cold War, it integrates radar networks, fighter squadrons and command structures to detect and respond to aerial threats, from ballistic missiles to unauthorized aircraft.
Alaska’s strategic position makes it a frontline for such monitoring, with bases like Joint Base Elmendorf-Richardson and Eielson hosting advanced fighters and surveillance assets. The state’s proximity to Russia — less than 55 miles separate Big Diomede Island (Russia) from Little Diomede (U.S.) in the Bering Strait — amplifies the need for vigilant patrols. Public reaction on social platforms included a mix of concern and reassurance, with some users noting the routine nature while others highlighted geopolitical implications. NORAD’s X account posted updates emphasizing readiness without alarm.
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As Arctic militarization continues — with Russia expanding bases and the U.S. bolstering presence through exercises like Arctic Edge — such encounters are likely to persist. Thursday’s event, while unremarkable in military terms, serves as a reminder of the delicate balance in polar airspace.
NORAD reiterated its commitment to sovereignty protection while characterizing the Russian activity as non-threatening and expected. No further details on flight paths or durations were released, consistent with operational security practices.