Quarterly ResultApr 29, 2026, 06:46 AM
CMRE Q1 Net Income $81.9M (-26.8%); EPS $0.62 (-29.5%)
AI Summary
Costamare Inc. reported a decrease in Net Income from continuing operations by 26.8% to $81.9 million for Q1 2026, with Voyage revenue declining 7.2% to $201.6 million. EPS from continuing operations also fell to $0.62 from $0.88 year-over-year. The revenue decrease was primarily due to lower charter rates, increased off-hire days for dry-dockings, and lower accounting revenue for sale-type leases, partially offset by EU Emissions Allowances reimbursements and revenue from a newly acquired vessel. Despite this, income from investments in leaseback vessels grew significantly, and the company continues its fleet expansion with 22 newbuilds and two secondhand containerships under agreement.
Key Highlights
- Net Income from continuing operations decreased 26.8% to $81.9M from $111.9M YoY.
- Voyage revenue decreased 7.2% to $201.6M from $217.2M YoY.
- EPS from continuing operations fell to $0.62 from $0.88 YoY.
- Income from investments in leaseback vessels increased 66.7% to $9.5M from $5.7M.
- Net cash provided by operating activities decreased by $34.8M to $112.4M.
- Interest and finance costs decreased 17.4% to $19.0M from $23.0M.
- Fleet averaged 69.0 vessels in Q1 2026, up from 68.0 vessels in Q1 2025.
- Company has 22 newbuild containerships under construction and agreed to acquire two secondhand vessels.
Price Impact
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