Costamare Bulkers posts $9.8 million adjusted profit

• Costamare Bulkers reported second-quarter 2026 adjusted net income of $9.8 million, or $0.40 per share, alongside total voyage revenue of $111.6 million.
• The company ended the quarter with $331.5 million in liquidity, and its cash exceeded long-term debt by $108.9 million.
• Management stated the business completed the transfer of its legacy trading portfolio to Cargill and maintained strong operational efficiency with a 99.1% owned fleet utilization rate in the second quarter.

Costamare Bulkers (NYSE:CMDB) reported second-quarter adjusted net income of $9.8 million, or $0.40 per share, on total voyage revenue of $111.6 million.

Adjusted net income declined from $12.4 million in the first quarter, while quarterly voyage revenue remained nearly unchanged from $111.5 million.

Liquidity reached $331.5 million, cash exceeded long-term debt by $108.9 million and the company expects to complete the Bermondi vessel sale during Q3 2026.

Costamare said its net-cash position could support countercyclical growth.

The company owns 30 dry bulk vessels totalling approximately 2.7 million DWT, with fleet utilization reaching 99.1% during the quarter.

Its Kamsarmax-focused operating platform manages 26 third-party vessels, while the company completed the transfer of its legacy trading portfolio earmarked for Cargill.