Costamare Bulkers Holdings (NYSE:CMDB) reported its first full-year results as an independent entity on Friday, detailing a strategic pivot toward lower volatility following its May 2025 spin-off from Costamare.
The Monaco-based dry bulk specialist posted a net loss for the year but emphasized a "net cash" position and a landmark partnership aimed at stabilizing future earnings.
The company reported total voyage revenue of $597.2 million for 2025.
On the bottom line, Costamare Bulkers recorded a net loss of $37.4 million, though management pointed to an adjusted net loss of $12.2 million for the full year as a more accurate reflection of ongoing operations.
For the fourth quarter, the adjusted net loss narrowed significantly to $1.7 million ($0.07 per share), signaling a stabilizing trend as the firm integrates its fleet and operating platform.
A central theme of the 2025 fiscal year was the "de-risking" of the business model.
In late 2025, the company entered into a Strategic Cooperation Agreement with Cargill International, transferring the majority of its third-party chartered-in trading book to the global commodities giant.