Costamare net income reaches $83.9 million

• Costamare reported second-quarter net income from continuing operations of $83.9 million and liquidity of $423 million.
• Costamare shares were up 0.3% at $15.72 in premarket trading following the results.
• The company completed $920 million of refinancings and secured commitments for up to $383 million of additional facilities.

Costamare (NYSE:CMRE) reported second-quarter net income from continuing operations of $83.9 million and liquidity of $423 million.

Common-shareholder net income fell to $77.4 million from $99.6 million, while adjusted EPS declined to $0.62 from $0.77.

During the second quarter, Costamare completed $920 million of refinancings and secured commitments of $331 million, plus a $52 million acquisition facility.

Costamare expects to finalise the $331 million refinancings in Q3.

The 16-vessel newbuilding programme’s equity contribution is fully paid, while two older ships are contracted for $54.5 million in net proceeds.

Meanwhile, Costamare has fixed 97% of 2026 and 94% of 2027 capacity, supporting approximately $6.1 billion of contracted revenue.