What is the market's earnings forecast for Costamare next quarter?

What is Costamare's latest dividend and current dividend yield?

What guidance did Costamare's management provide for the next earnings period?

What is Costamare's gross profit margin?

What were the key takeaways from Costamare’s earnings call?

What were the key takeaways from Costamare's earnings call?

What does Costamare do and what are its main business segments?

What factors drove the changes in Costamare's revenue and profit?

- **Financial Resilience**: $99M net income, 100% fleet deployment, and $650M leasing investments.
- **Growth Strategy**: 6 newbuilds, 6,500 TEU acquisition, and $180M leasing expansion.
- **Market Strength**: <1% idle fleet, stable charter rates, and geopolitical risk mitigation.

**【CFO Financial Highlights】**
- Q3 2025 net income of $99 million, with adjusted EPS of $0.81.
- 100% fleet deployment for 2025, 80% for 2026, and $2.6 billion in contracted revenues.
- Secured $650 million in leasing investments through Neptune Maritime Leasing.

**【Strategic Fleet Expansion】**
- Ordered 6 newbuild 3,100 TEU vessels, with 2 additional options exercised for Q1 2028 delivery.
- Acquired 6,500 TEU vessel with Maersk leaseback, and $180 million in leasing platform growth.

**【Market Insights】**
- Global container demand resilient despite U.S.-China trade tensions; idle fleet <1%.
- Cost control maintained with $560 million liquidity and no major debt maturities till 2027.

Costamare Inc. (CMRE) Q3 2025 Earnings Call Transcript

- **Spin-off completion**: Separated dry bulk operations, retaining full container fleet ownership.
- **$310M new contracts**: Four newbuilds and two forward-chartered vessels add to $2.5B contracted revenues.
- **Market strength**: 0.5% idle fleet, robust rates driven by tonnage scarcity.
- **Financial stability**: $500M+ liquidity, no near-term debt maturities.
- **Neptune growth**: $650M committed across 47 assets, 90% of initial capital deployed.
- **Dividend policy**: $0.115/share quarterly, no immediate changes planned.

**【CFO Opening Remarks】**
- Spin-off of Costamare Bulkers completed in May 2025, separating dry bulk operations and retaining full ownership of 68 containerships.
- Ordered four 3,100 TEU newbuilds from a Chinese shipyard, with deliveries expected Q2-Q4 2027 and 8-year charters with a leading liner company.
- Forward-chartered two 6,500 TEU vessels for Q1-Q2 2026, adding $310 million in contracted revenues.
- Fleet deployment at 100% for 2025 and 75% for 2026, with total contracted revenues of $2.5 billion and 3.2 years remaining charter duration.
- Containership market remains tight (0.5% idle fleet), with healthy charter rates driven by low tonnage availability and Suez Canal disruptions.

**【CFO Financial Commentary】**
- Q2 2025 net income: $99 million ($0.83/share), adjusted net income: $92 million ($0.77/share).
- Liquidity exceeds $500 million, with no major debt maturities until 2027.
- Refinanced six containerships without increasing leverage.
- Neptune Maritime Leasing has committed $650 million across 47 assets, with $180 million invested by Costamare.

**【Q&A Highlights】**
- **Strategy & Newbuilds**: CFO clarified no shift in focus; newbuilds were opportunistic given favorable price/charter rate alignment. Company remains patient on future investments.
- **Neptune Leasing**: 90% of initial capital deployed, with potential for further investment depending on market conditions.
- **Shareholder Returns**: Dividend policy unchanged at $0.115/share quarterly; no immediate plans for buybacks or dividend increases, prioritizing accretive capital deployment.

Costamare (CMRE)-31 Jul 25-2025 Q2 Earnings call transcript

- **Q1 Financial Performance**: $95M net income, $1B liquidity, and strong separation execution.
- **Containership Dominance**: 100% 2025 fleet utilization, $2.3B contracted revenue.
- **Dry Bulk Recovery**: Cape market rebound, $150M debt repayment, and $100M acquisition facility.
- **NML Expansion**: $530M asset portfolio with healthy pipeline growth.
- **Leverage Management**: No major maturities until 2027, maintaining financial flexibility.


**【CFO Financial Highlights】**
- **Q1 2025 Net Income**: $95 million ($0.79 per share), with adjusted net income of $73 million ($0.61 per share).
- **Liquidity**: $1 billion, providing strong financial flexibility.

**【Business Separation Details】**
- **Spin-off of Costamare Bulkers**: 
  - 37 dry bulk vessels and CBI platform spun off.
  - Each Costamare Inc. shareholder receives 1 Costamare Bulkers share for every 5 shares held.
  - Remaining focus: 68 containerships and Neptune Maritime Leasing (NML) control.

**【Containership Market Strength】**
- **Fleet Employment**: 100% for 2025, 73% for 2026.
- **Contracted Revenues**: $2.3 billion with 3.3-year weighted average duration.
- **Market Dynamics**: Idle fleet <1%, USTR fee-related redeployment boosting tonnage demand.

**【Dry Bulk Sector Update】**
- **Capesize Recovery**: March rebound driven by iron ore shipments (Australia/Brazil) and vessel tightness.
- **Panamax Activity**: Post-Chinese New Year recovery in grain flows.
- **Spin-off Financing**: $150 million debt repayment, $100 million hunting license facility for future acquisitions.

**【Neptune Maritime Leasing (NML) Growth】**
- **Total Investments**: $530 million across 41 assets.
- **Leasing Pipeline**: Healthy, with $123 million invested in Q1.

**【Financial Discipline】**
- **Refinancing**: Extended maturity without increased leverage.
- **No Major Maturities**: Until 2027, ensuring long-term capital stability.


Costamare Inc. (CMRE) Q1 2025 Earnings Call Transcript

- **Q4 Financial Strength**: $82M adjusted net income, $940M liquidity supporting growth.
- **Containership Resilience**: 12 new charters ($330M) lock in rates amid supply concerns.
- **Dry Bulk Volatility**: CBI takes balanced positions; 2025 fleet employment at 69% limits downside.
- **Fleet Renewal Focus**: Acquiring larger, modern vessels while exiting smaller tonnage.
- **Neptune Expansion**: $500M pipeline with equity flexibility for selective investments.

**【Opening Remarks】**
- Q4 2024 adjusted net income: $82 million; liquidity: $940 million after debt repayments.
- Fleet employment: 96% for 2025, 69% for 2026; contracted revenues: $2.4 billion with 3.4-year weighted duration.

**【Market Analysis】**
- **Containership Sector**: Red Sea diversions sustained rates; 12 new charters ($330M revenue) locked in for 2.5 years. Idle fleet at 0.6% despite newbuild supply.
- **Dry Bulk Sector**: Q4 2024 rates hit lows; oversupply due to China steel weakness and grain demand decline. CBI takes balanced long/short positions to hedge volatility.

**【Strategic Moves】**
- Fleet renewal: Acquired 1 Capesize, 2 Ultramax; sold 1 Handysize, agreed to sell 1 Panamax. Neptune Leasing pipeline: $500M+ with 100% equity commitment flexibility.
- CBI chartered-in fleet: 51 vessels on index-linked agreements; 38 owned dry bulk vessels refinanced at lower costs.

**【Q&A Highlights】**
- **CBI Contribution**: 2025 expected to be net neutral; current position: long Capes/Panamaxes. Segmental reporting pending 6-K filing.
- **Containership Rates**: No immediate pressure despite Suez normalization; charters signed pre-ceasefire remain firm.
- **Neptune Leasing**: Pipeline active; equity investment depends on leverage availability. No timeline for additional commitments.
- **Dry Bulk Outlook**: Softness likely to persist; CBI to maintain balanced book with limited speculative positions.

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