Costamare Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 net income reached $75 million with liquidity at $645 million. Major fleet renewal includes 16 newbuilds and two secondhand vessels, boosting contracted revenues to $6.2 billion and extending charter durations. Dividend increase recommended.
Fiscal Year 2025
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Q4 2025 net income reached $73M, with full-year net income at $370M and liquidity of $590M. Forward-chartering 12 vessels secured $940M in new revenues, with 96% of 2026 revenue days fixed. Charter rates and market demand remain strong.
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Net income reached $93 million for Q3 2025, with strong liquidity and $2.6 billion in contracted revenues. Charter rates remain firm amid a tight market, and newbuild orders and sale-and-leaseback deals enhance future revenue visibility.
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Q2 2025 net income reached $99 million, with strong liquidity and $2.5 billion in contracted revenues. The company completed a dry bulk spin-off, ordered four new containerships with long-term charters, and maintains robust charter rates and dividend policy.
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Q1 2025 net income was $95 million, with strong liquidity and a successful dry bulk spin-off. Containership fleet is fully employed, and contracted revenues total $2.3 billion, while dry bulk and leasing segments show positive momentum.
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Costamare Bulkers is being spun off as a pure-play dry bulk operator with 38 owned and 48 chartered-in vessels, focusing on risk management, flexible fleet strategy, and low leverage. The company targets growth through selective acquisitions and will maintain a variable dividend policy tied to profitability.
Fiscal Year 2024
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Adjusted net income reached $330 million for the year, with strong liquidity above $940 million and $2.4 billion in contracted revenues. The company expanded its fleet and secured new financings, while market conditions remain firm for containers but soft for dry bulk.
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Q3 2024 net income reached $75.5 million, with liquidity over $1 billion and strong contracted revenues. Fleet renewal continued in dry bulk, while container ship employment remains high amid firm charter rates. Asset acquisitions are approached cautiously due to elevated prices.
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Q2 2024 net income was $91 million with liquidity above $1.1 billion. Strong container charter rates and high fleet employment drove $2.4 billion in contracted revenues, while dry bulk and leasing segments continued to expand. Full redemption of Series C Preferred Stock will save $10.1 million annually.