Costamare Inc. (CMRE) Form 6-K — Oct 28, 2026
Costamare reported Q3 2026 adjusted net income from continuing operations of $89.4 million ($0.74 per share) and net income of $88.5 million ($0.73 per share) available to common stockholders, with liquidity of $733.1 million. Earnings declined year over year — adjusted EPS fell from $0.81 to $0.74 and Q3 voyage revenue slipped 1.8% to $212.1 million on softer charter rates and scheduled dry-dockings. Nine-month voyage revenue fell 4.6% to $614.4 million. On the positive side, the company finalized $1.3 billion of bilateral refinancing across 39 vessels (part of $1.4 billion total, with a $92 million loan to close in Q4), delivering interest savings and no debt maturities until 2030.
Key figures
- Eps
- 0.73
- Revenue
- 220387000
- Net Income
- 94959000
- Revenue Yoy
- -1.8% (Q3 voyage revenue $212.1M vs $215.9M)
- Total Assets
- 4363865000
- Cash Position
- 713300000
- Fleet
- 69 containerships, ~520,000 TEU, plus 22 newbuilds
- Q3 liquidity
- $733.1 million
- Nml investment
- $182.2 million invested; 47 assets; >$650 million commitments
- Dividend common
- $0.125 per share payable November 5, 2026
- New loan signed
- $92 million with an Asian bank for two vessels, drawdown expected Q4 2026
- Idle ships market
- below 1%
- Refinancing total
- $1.4 billion bilateral financing agreements
- Contracted revenues
- approximately $6.0 billion
- Unencumbered vessels
- 23
- Charter coverage 2026
- 100%
- Charter coverage 2027
- 99%
- Teu weighted duration
- 5.8 years
- Adjusted net income q3
- $89.4 million ($0.74 per share)
- Adjusted eps q3 prior year
- 0.81
- Refinancing drawn since q2
- $1.3 billion across 39 vessels
AI analysis
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