Costamare reports $88.5 million Q3 profit as EPS falls to $0.73
Key points
- Costamare (NYSE:CMRE) reported third-quarter 2026 net income from continuing operations available to common shareholders of $88.5 million, with earnings per share falling to $0.73 from $0.77.
- Voyage revenue decreased to $212.1 million, while liquidity totaled $733.1 million.
- Costamare refinanced debt across 39 vessels with $1.3 billion in borrowings and reported approximately $6.0 billion in contracted containership revenue as of October 27.
Costamare (NYSE:CMRE) reported third-quarter 2026 net income of $88.5 million from continuing operations available to common shareholders, while earnings per share declined to $0.73.
Voyage revenue fell to $212.1 million from $215.9 million a year earlier, while adjusted net income reached $89.4 million, or $0.74 per share.
For the first nine months of 2026, net income from continuing operations available to common shareholders declined to $241.2 million from $298.4 million in the same period last year.
Costamare reported liquidity of $733.1 million and drew $1.3 billion to refinance debt across 39 vessels, with a separate $92 million loan expected to be drawn in the fourth quarter.
The company said the refinancing would reduce interest costs and extend debt maturities, while contracted containership revenue stood at approximately $6.0 billion as of October 27, 2026.
Costamare reported a capacity-weighted duration of 5.8 years for its contracted containership revenue, with fleet employment coverage of 100% for 2026 and 99% for 2027, subject to the company’s stated fleet exclusions.
Frequently asked questions
More from United States
Terex reveals Q3 sales of $2.2B, up 58.4%
Boston Scientific Q3 revenue revs up 1.5% to $5.14 billion
Generac achieves $1.29 billion quarterly sales milestone
Del Monte posts $1.10 billion Q3 revenue amid continued growth
Aon revenue increases 3% to $4.10 billion in third quarter
Otis revenue momentum lifts quarterly sales to $3.91 billion
