Quarterly ResultMay 13, 2026, 06:02 AM
Costamare Bulkers Q1 Adjusted Net Income $12.4M; EPS $0.51
AI Summary
Costamare Bulkers Holdings Limited reported strong unaudited financial results for Q1 2026, with an Adjusted Net Income of $12.4 million and EPS of $0.51. The company maintained robust liquidity of $353.3 million, with cash exceeding debt by $127.2 million. Strategically, Costamare Bulkers completed the transfer of the majority of its trading book to Cargill, de-risking its balance sheet, and continued its fleet renewal program through vessel acquisitions, long-term charter-in agreements, and disposals.
Key Highlights
- Q1 2026 Adjusted Net Income was $12.4 million, with Adjusted Earnings per share of $0.51.
- Q1 2026 Net Income was $9.9 million, with Earnings per share of $0.41.
- Liquidity reached $353.3 million, with cash exceeding debt by $127.2 million.
- Completed the sale of the dry bulk vessel Miracle, generating approximately $7.0 million in capital gains.
- Acquired the 2018-built, 60,297 DWT dry bulk vessel, Astros.
- Accepted delivery of the newbuild 81,800 DWT Hermes Century under a 5-year charter-in agreement.
- Completed the transfer of the majority of the trading book to Cargill International S.A., de-risking the balance sheet.
- The owned fleet consists of 30 dry bulk vessels with a total capacity of approximately 2.7 million DWT.