Quarterly ResultApr 29, 2026, 06:42 AM
CMRE Q1 Net Income $81.9M (-26.8%); Revenue $201.6M (-7.2%)
AI Summary
Costamare Inc. reported a significant decline in its Q1 2026 financial results from continuing operations. Net income decreased by 26.8% to $81.9 million, while voyage revenue fell 7.2% to $201.6 million, primarily due to lower charter rates and increased off-hire days. Despite these declines, income from investments in leaseback vessels saw a substantial 66.7% increase to $9.5 million, and interest and finance costs decreased.
Key Highlights
- Net Income from Continuing operations was $81.9 million in Q1 2026, down 26.8% from $111.9 million in Q1 2025.
- Voyage revenue decreased 7.2% to $201.6 million in Q1 2026 from $217.2 million in Q1 2025.
- Adjusted Earnings per Share from Continuing operations was $0.63 in Q1 2026, down from $0.84 in Q1 2025.
- Income from investments in leaseback vessels increased 66.7% to $9.5 million in Q1 2026.
- Net cash provided by operating activities decreased to $112.4 million in Q1 2026 from $147.2 million.
- Cash and cash equivalents stood at $625.0 million as of March 31, 2026.
- Average number of container vessels in the owned fleet increased to 69.0 in Q1 2026 from 68.0.
- Interest and finance costs decreased 17.4% to $19.0 million in Q1 2026 due to a lower average loan balance.
Price Impact
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