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Costamare(CMRE) - 2020 Q2 - Earnings Call Presentation
2020-07-28 17:35
COSTAMARE INC. I I I I I I . . . . . COSCO = [Intell 15 " Second Quarter 2020 Financial Resu Conference Call July 28, 2020 Forward-Looking Statements This presentation contains certain "forward-looking statements" (as such term is defined in Section 21E of the Securities Exchange Act of 1934, as amended). All statements, other than statements of historical facts, that address activities, events or developments that the Company expects, projects, believes or anticipates will or may occur in the future, inclu ...
Costamare(CMRE) - 2020 Q1 - Earnings Call Transcript
2020-04-29 17:56
Costamare Inc. (NYSE:CMRE) Q1 2020 Earnings Conference Call April 29, 2020 8:30 AM ET Company Participants Gregory Zikos - CFO Conference Call Participants Ben Nolan - Stifel Nicolaus J Mintzmyer - Value Investor's Edge Operator Thank you for standing by, ladies and gentlemen, and welcome to the Costamare Inc. Conference Call on the First Quarter 2020 Financial Results. We have with us Mr. Gregory Zikos, Chief Financial Officer of the company. At this time, all participants are in a listen-only mode. There ...
Costamare(CMRE) - 2019 Q4 - Annual Report
2020-02-26 22:15
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) o REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2019 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 o SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 COSTAM ...
Costamare(CMRE) - 2019 Q4 - Earnings Call Transcript
2020-01-29 16:16
Financial Data and Key Metrics Changes - Net income rose by approximately 80% in Q4 2019 compared to the previous year, with adjusted EPS at $0.22 [4] - For the full year, net income was close to $100 million, marking a 47% increase compared to 2018, with adjusted EPS for 2019 at $0.91 [4] Business Line Data and Key Metrics Changes - The company sold four small-sized containerships with an average age of 27 years and replaced them with four large-sized Panamax vessels with an average age of 11 years [5] - The company achieved utilization rates close to 100% and maintained competitive operating expenses [6] Market Data and Key Metrics Changes - The idle fleet adjusted for vessels undergoing scrubber retrofits stands at a low 1.5%, while the order book remains close to 10% [7] - Charter rates for larger ships have been rising faster during 2019 compared to those of smaller vessels [11] Company Strategy and Development Direction - The company is focused on fleet renewal, acquiring newer vessels while disposing of older ones to enhance operational efficiency [3][5] - The company is actively looking for new transactions in the current market environment, indicating a proactive approach to capitalizing on market conditions [12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the market momentum, especially with 18 Post-Panamax ships coming off charter over the next 12 months [3] - The company is in constant discussions with liners regarding scrubber installations, indicating a strong interest from customers [19] Other Important Information - The company maintains a strong balance sheet with approximately 41% leverage and no balance sheet financing [6] - The company has $2.2 billion in contracted revenues with a remaining time-chartered duration of about 3.5 years [10] Q&A Session Summary Question: Plans for vessels coming off contracts - Management is considering longer-term contracts (3-5 years) for vessels coming off contracts, depending on market conditions and counterparty risk [14] Question: Acquisition details of Panamax vessels - The exact acquisition price was not disclosed, but the market for the acquired vessels is estimated between $13,500 to $14,000 per day [17] Question: Customer demand for scrubbers - There is significant interest from liner companies regarding scrubber installations, with agreements already in place for 15 vessels [19] Question: Financing details for new ships - The refinancing of four ships was achieved through bilateral deals, with leverage below 70% based on valuations [25] Question: Scrubber installation capacity - There have been delays in scrubber retrofits, but no specific capacity reduction has been observed due to the Chinese New Year [30]
Costamare(CMRE) - 2019 Q4 - Earnings Call Presentation
2020-01-29 14:02
COSTAMARE INC. Fourth Quarter 2019 Financial Results Conference Call January 29, 2020 I I I I I I . . . . . COSCO = [Intell ] S " Forward-Looking Statements This presentation contains certain "forward-looking statements" (as such term is defined in Section 21E of the Securities Exchange Act of 1934, as amended). All statements, other than statements of historical facts, that address activities, events or developments that the Company expects, projects, believes or anticipates will or may occur in the future ...
Costamare(CMRE) - 2018 Q4 - Annual Report
2019-03-07 21:12
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Common Stock, $0.0001 par value per share New York Stock Exchange Preferred stock purchase rights New York Stock Exchange Series B Preferred Stock, $0.0001 par value per share New York Stock Exchange Series C Preferred Stock, $0.0001 par value per share New York Stock Exchange Series D Preferred Stock, $0.0001 par value per share New York Stock Exchange Series E Preferred Stock, $0.0001 par value per share New York Stock Exchange FORM 2 ...