Costamare Bulkers Announces Q3 Adjusted EPS of 81 Cents, Down from 86 Cents Last Year
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 04 2025
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Should l Buy CMRE?
Q3 Financial Performance: Costamare Inc. reported Q3 voyage revenue of $215.9 million, a decrease from $219.5 million last year, with a net income of approximately $99 million.
Fleet and Contracts Update: The company remains the sole shareholder of 69 containerships and has fixed 8 vessels for periods of 12 to 38 months, resulting in increased contracted revenues exceeding $310 million.
Market Conditions: The charter market is strong with a fleet employment rate of 100% for 2025 and 80% for 2026, supported by a vessel shortage and steady demand, while idle fleet levels are below 1%.
Neptune Maritime Leasing Growth: Neptune Maritime Leasing has funded or committed to 50 shipping assets, with total investments and commitments surpassing $650 million, indicating a growing leasing platform.
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Analyst Views on CMRE
About CMRE
Costamare Inc is a Monaco-based company that provides containerships and dry bulk vessels for charter. The Company is an international shipping industry that offers a fleet of 73 containerships, with a total capacity of approximately 537,000 TEU (including two vessels that have agreed to sell) and 45 dry bulk vessels with a total capacity of approximately 2,436,000 DWT. Its offers containerships of various sizes (including feeder, panamax and post-panamax containerships) serve short, medium, and long-haul routes on a variety of geographical trades. Its dry bulk vessels transport a broad range of bulks such as iron ore, coal, and grains as well as minor bulks such as bauxite, phosphate fertilizers and steel products. The Company serve its customer's needs worldwide and ensure the safety, reliability, and environmental responsibility of services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Costamare Declares Quarterly Dividend of $0.115 per Share
- Quarterly Dividend Declaration: Costamare has declared a quarterly dividend of $0.115 per share, consistent with previous distributions, indicating the company's stability in the current market environment and likely appealing to income-seeking investors.
- Yield Analysis: The forward yield of 2.71% reflects the company's ongoing commitment to its dividend policy, potentially enhancing investor confidence in future cash flows and financial health.
- Shareholder Record Dates: The dividend is payable on May 5, with a record date of April 20 and an ex-dividend date also on April 20, providing investors with a clear timeline for their investment decisions.
- Market Performance: Costamare's stock has risen to an 11-year high following a Q4 earnings beat, adding charter agreements worth $940 million, showcasing the company's growth potential and competitive position in the medium term.
See More
Costamare Declares Cash Dividend for Preferred and Common Stock
- Dividend Declaration: Costamare Inc. has declared cash dividends of $0.476563 per share for its 7.625% Series B Preferred Stock, $0.531250 for its 8.50% Series C Preferred Stock, and $0.546875 for its 8.75% Series D Preferred Stock, reflecting confidence in its ongoing profitability.
- Common Stock Dividend: The company also announced a quarterly dividend of $0.115 per share on its common stock, payable on May 5, 2026, which further enhances investor confidence in the company's financial health.
- Dividend Payment Conditions: The payment of dividends is subject to the discretion of the Board of Directors, considering factors such as the company's earnings, financial condition, and cash requirements, indicating a prudent approach to financial management.
- Company Background: With 52 years in the international shipping industry, Costamare operates a fleet of 79 containerships with a total capacity of approximately 551,000 TEU, underscoring its leadership position and potential for continued growth in the shipping sector.
See More
Costamare Reports Strong Q4 Earnings, Secures $940M in New Contracts
- Strong Earnings Performance: Costamare reported Q4 adjusted earnings and revenues that exceeded analyst expectations, with shares rising 0.3% on Wednesday to a high of $17.52, poised for its best close since August 2014.
- Surge in Contracted Revenues: The company secured approximately $940 million in new contracted revenues by fixing 12 vessels for periods up to eight years, boosting fleet employment to 96% for 2026 and 92% for 2027, significantly enhancing revenue predictability.
- Growing Revenue Backlog: As of mid-February, Costamare's contracted revenue backlog totals around $3.4 billion, with a TEU-weighted remaining duration of 4.5 years, indicating a stable cash inflow for the coming years.
- Fleet Renewal Initiative: The company is advancing its fleet renewal with a newbuilding program for six 3,100 TEU containerships at Zhoushan Changhong shipyard, scheduled for delivery in 2027-28, fully backed by eight-year time charters to a leading liner operator.
See More
Costamare Q4 Earnings Beat Expectations with $0.60 EPS
- Earnings Beat: Costamare reported a Q4 non-GAAP EPS of $0.60, exceeding expectations by $0.06, indicating the company's stable profitability despite a decline in overall revenue.
- Revenue Decline: The company posted revenues of $211.9 million, down 5.4% year-over-year, yet still surpassed expectations by $24.9 million, demonstrating Costamare's ability to maintain strong revenue performance in a challenging market environment.
- Lack of Shareholder Rewards: Despite the earnings beat, concerns arise regarding Costamare's ability to reward shareholders, with analysts suggesting that the absence of shareholder returns could lead to a 30% drop in stock price, reflecting investor caution about future returns.
- Market Rating Analysis: Seeking Alpha's quant rating highlights Costamare's historical earnings data and dividend scorecard, further emphasizing the challenges and opportunities the company faces in the current market, prompting investors to carefully assess its investment value.
See More
Costamare Reports $371 Million Net Income for 2025 Amid Spin-Off
- Strong Financial Performance: Costamare reported a net income of $371 million ($3.09 per share) for 2025, reflecting stability and profitability post the spin-off of its dry bulk business, despite a slight decline from 2024.
- Robust Liquidity: As of December 31, 2025, Costamare's liquidity stood at $589.6 million, ensuring financial flexibility for future investments and operations, supporting its ongoing growth strategy.
- New Contracts Signed: The company secured 12 new charters over the next three years, expected to generate approximately $940 million in incremental contracted revenues, further solidifying its position in the container shipping market with fleet utilization rates of 96% and 92% for 2026 and 2027, respectively.
- Dividend Distribution: Costamare declared a dividend of $0.115 per share on January 2, 2026, paid on February 5, demonstrating its commitment to shareholder returns and enhancing investor confidence.
See More
Costamare to Announce Q4 Earnings on February 18
- Earnings Announcement Date: Costamare is set to release its Q4 2023 earnings report on February 18 before market open, with a consensus EPS estimate of $0.74, reflecting a 7.2% year-over-year increase, indicating stable profitability.
- Revenue Expectations Decline: The anticipated revenue for Q4 is $204 million, representing a significant 54% year-over-year decrease, highlighting challenges the company faces in the current market environment, which may affect investor confidence.
- Historical Performance: Over the past two years, Costamare has exceeded EPS estimates 100% of the time and revenue estimates 88% of the time, demonstrating reliability in earnings forecasts, despite the current unfavorable revenue outlook.
- Market Reaction Analysis: Despite strong historical performance, the market remains cautious about Costamare's future, with analysts suggesting that the stock could drop by 30% due to a lack of shareholder rewards, potentially influencing investor decisions.
See More
Costamare Declares Quarterly Dividend of $0.115 per Share
- Quarterly Dividend Declaration: Costamare has declared a quarterly dividend of $0.115 per share, consistent with previous distributions, indicating the company's stability in the current market environment and likely appealing to income-seeking investors.
- Yield Analysis: The forward yield of 2.71% reflects the company's ongoing commitment to its dividend policy, potentially enhancing investor confidence in future cash flows and financial health.
- Shareholder Record Dates: The dividend is payable on May 5, with a record date of April 20 and an ex-dividend date also on April 20, providing investors with a clear timeline for their investment decisions.
- Market Performance: Costamare's stock has risen to an 11-year high following a Q4 earnings beat, adding charter agreements worth $940 million, showcasing the company's growth potential and competitive position in the medium term.
See More
Costamare Declares Cash Dividend for Preferred and Common Stock
- Dividend Declaration: Costamare Inc. has declared cash dividends of $0.476563 per share for its 7.625% Series B Preferred Stock, $0.531250 for its 8.50% Series C Preferred Stock, and $0.546875 for its 8.75% Series D Preferred Stock, reflecting confidence in its ongoing profitability.
- Common Stock Dividend: The company also announced a quarterly dividend of $0.115 per share on its common stock, payable on May 5, 2026, which further enhances investor confidence in the company's financial health.
- Dividend Payment Conditions: The payment of dividends is subject to the discretion of the Board of Directors, considering factors such as the company's earnings, financial condition, and cash requirements, indicating a prudent approach to financial management.
- Company Background: With 52 years in the international shipping industry, Costamare operates a fleet of 79 containerships with a total capacity of approximately 551,000 TEU, underscoring its leadership position and potential for continued growth in the shipping sector.
See More
Costamare Reports Strong Q4 Earnings, Secures $940M in New Contracts
- Strong Earnings Performance: Costamare reported Q4 adjusted earnings and revenues that exceeded analyst expectations, with shares rising 0.3% on Wednesday to a high of $17.52, poised for its best close since August 2014.
- Surge in Contracted Revenues: The company secured approximately $940 million in new contracted revenues by fixing 12 vessels for periods up to eight years, boosting fleet employment to 96% for 2026 and 92% for 2027, significantly enhancing revenue predictability.
- Growing Revenue Backlog: As of mid-February, Costamare's contracted revenue backlog totals around $3.4 billion, with a TEU-weighted remaining duration of 4.5 years, indicating a stable cash inflow for the coming years.
- Fleet Renewal Initiative: The company is advancing its fleet renewal with a newbuilding program for six 3,100 TEU containerships at Zhoushan Changhong shipyard, scheduled for delivery in 2027-28, fully backed by eight-year time charters to a leading liner operator.
See More
Costamare Q4 Earnings Beat Expectations with $0.60 EPS
- Earnings Beat: Costamare reported a Q4 non-GAAP EPS of $0.60, exceeding expectations by $0.06, indicating the company's stable profitability despite a decline in overall revenue.
- Revenue Decline: The company posted revenues of $211.9 million, down 5.4% year-over-year, yet still surpassed expectations by $24.9 million, demonstrating Costamare's ability to maintain strong revenue performance in a challenging market environment.
- Lack of Shareholder Rewards: Despite the earnings beat, concerns arise regarding Costamare's ability to reward shareholders, with analysts suggesting that the absence of shareholder returns could lead to a 30% drop in stock price, reflecting investor caution about future returns.
- Market Rating Analysis: Seeking Alpha's quant rating highlights Costamare's historical earnings data and dividend scorecard, further emphasizing the challenges and opportunities the company faces in the current market, prompting investors to carefully assess its investment value.
See More
Costamare Reports $371 Million Net Income for 2025 Amid Spin-Off
- Strong Financial Performance: Costamare reported a net income of $371 million ($3.09 per share) for 2025, reflecting stability and profitability post the spin-off of its dry bulk business, despite a slight decline from 2024.
- Robust Liquidity: As of December 31, 2025, Costamare's liquidity stood at $589.6 million, ensuring financial flexibility for future investments and operations, supporting its ongoing growth strategy.
- New Contracts Signed: The company secured 12 new charters over the next three years, expected to generate approximately $940 million in incremental contracted revenues, further solidifying its position in the container shipping market with fleet utilization rates of 96% and 92% for 2026 and 2027, respectively.
- Dividend Distribution: Costamare declared a dividend of $0.115 per share on January 2, 2026, paid on February 5, demonstrating its commitment to shareholder returns and enhancing investor confidence.
See More
Costamare to Announce Q4 Earnings on February 18
- Earnings Announcement Date: Costamare is set to release its Q4 2023 earnings report on February 18 before market open, with a consensus EPS estimate of $0.74, reflecting a 7.2% year-over-year increase, indicating stable profitability.
- Revenue Expectations Decline: The anticipated revenue for Q4 is $204 million, representing a significant 54% year-over-year decrease, highlighting challenges the company faces in the current market environment, which may affect investor confidence.
- Historical Performance: Over the past two years, Costamare has exceeded EPS estimates 100% of the time and revenue estimates 88% of the time, demonstrating reliability in earnings forecasts, despite the current unfavorable revenue outlook.
- Market Reaction Analysis: Despite strong historical performance, the market remains cautious about Costamare's future, with analysts suggesting that the stock could drop by 30% due to a lack of shareholder rewards, potentially influencing investor decisions.
See More
