Quarterly ResultApr 29, 2026, 06:32 AM
CMRE Q1 Adj. EPS $0.63; Dividend +$0.01; 16 Newbuilds, $2.8B Revenue
AI Summary
Costamare Inc. reported Q1 2026 Adjusted Net Income of $76.0 million ($0.63 per share) and Net Income of $75.3 million ($0.62 per share), with liquidity at $644.4 million. The company announced a recommended quarterly dividend increase from $0.115 to $0.125 per common share, starting Q2 2026. Costamare also entered into 16 shipbuilding contracts for new container vessels backed by long-term charters with COSCO, adding approximately $2.8 billion in contracted revenues. Additionally, two secondhand 5,600 TEU vessels were agreed for acquisition, each with a 42-month time charter.
Key Highlights
- Entered 16 shipbuilding contracts for new container vessels with COSCO.
- Newbuilds contribute approximately $2.8 billion in incremental contracted revenues.
- Management recommends quarterly dividend increase from $0.115 to $0.125 per share.
- Q1 2026 Adjusted Net Income $76.0 million ($0.63 per share).
- Q1 2026 Net Income $75.3 million ($0.62 per share).
- Total liquidity of $644.4 million as of March 31, 2026.
- Agreed to acquire two secondhand 5,600 TEU vessels with 42-month charters.
- Containership fleet 97% fixed for 2026 and 94% for 2027.