Profitability and Liquidity - Costamare reported a Q1 2025 net income available to common stockholders of $95.0 million, equivalent to $0.79 per share, and an adjusted net income of $73.3 million, or $0.61 per share [8][14] - The company's liquidity stood at approximately $1,022.6 million as of March 31, 2025, which includes cash, cash equivalents, short-term investments, and margin deposits [58] Completion of Spin-Off - The spin-off of Costamare's dry bulk business into a standalone public company, Costamare Bulkers Holdings Limited (CMDB), was completed on May 6, 2025, with shareholders receiving one share of CMDB for every five shares of Costamare held [2][14] Owned Fleet Charter Update - Costamare's containership fleet is fully employed, with 100% and 73% of the fleet fixed for 2025 and 2026, respectively, and contracted revenues amounting to approximately $2.3 billion with a TEU-weighted duration of 3.3 years [9][15][17] Sale and Purchase Activity - The company completed the sale of the dry bulk vessel Rose in April 2025, generating net sale proceeds of $4.1 million after debt prepayment, and has an agreement for the sale of another vessel, Resource, expected to conclude in Q2 2025 [10][11] Financial Performance Comparison - Total voyage revenue decreased by 6.3%, or $29.6 million, to $440.6 million in Q1 2025 compared to Q1 2024, primarily due to decreased revenue from Costamare Bulkers and lower charter rates [32][33] - Voyage expenses decreased to $88.3 million in Q1 2025 from $95.4 million in Q1 2024, while charter-in hire expenses also decreased to $111.5 million from $144.3 million [35][36] Cash Flows - Net cash provided by operating activities increased to $143.1 million in Q1 2025 from $138.0 million in Q1 2024, attributed to favorable changes in working capital and decreased interest payments [52] - Net cash provided by investing activities was $1.5 million in Q1 2025, a decrease from $34.6 million in Q1 2024, which was primarily due to proceeds from vessel sales in the prior year [53][54] Debt and Financing - Costamare has no significant debt maturities until 2027, and it prepaid $150.2 million of its dry bulk vessels bank debt in April 2025 [11][16] - The company refinanced existing indebtedness of Polar Brasil through a $23.5 million loan facility agreement with a European financial institution, maintaining leverage levels [7] Dividend Announcements - The company declared a dividend of $0.115 per share on common stock, paid on May 6, 2025, along with dividends on its preferred stock series [14][16]

Core Points - Costamare Inc. has successfully completed the spin-off of its dry bulk business into a new public company named Costamare Bulkers Holdings Limited [1][2] - Shareholders of Costamare Inc. received one share of Costamare Bulkers for every five shares of Costamare Inc. held as of April 29, 2025 [1] - Following the spin-off, Costamare Inc. will focus primarily on global container shipping while retaining its involvement in Neptune Maritime Leasing [2] Company Overview - Costamare Inc. is a leading owner and provider of containerships for charter, with a history spanning 51 years in the international shipping industry [2] - The company operates a fleet of 68 owned containerships, totaling approximately 513,000 TEU in capacity [2] - Costamare Inc.'s common stock and preferred stocks trade on the NYSE under the symbols "CMRE", "CMRE PR B", "CMRE PR C", and "CMRE PR D" respectively [2] Trading Information - Costamare Bulkers will commence trading on the NYSE under the ticker symbol "CMDB" starting today at 9:30 a.m. New York City time [2] - Costamare Inc. will continue to trade on the NYSE under the ticker symbol "CMRE" [2]

Group 1 - Costamare Bulkers Holdings Limited has completed its separation from Costamare Inc. and began trading on the NYSE under the symbol "CMDB" on May 7, 2025 [1][6] - Each holder of Costamare Inc. common shares received one common share of Costamare Bulkers for every five shares held as of April 29, 2025 [1] - Costamare Bulkers is an international owner and operator of dry bulk vessels, providing transportation of dry bulk commodities globally [2][3] Group 2 - The fleet of Costamare Bulkers consists of 37 vessels with a total carrying capacity of approximately 2,940,000 deadweight tons (dwt) [3] - The company also owns a dry bulk operating platform (CBI) that charters in/out dry bulk vessels and engages in contracts of affreightment and forward freight agreements [3] - A new global website for Costamare Bulkers has been launched, accessible at www.costamarebulkers.com [2]

Core Points - Costamare Inc. will release its financial results for Q1 2025 on May 8, 2025, before the market opens in New York [1] - A conference call to discuss the financial results will take place on the same day at 8:30 a.m. ET [2] - The company has a fleet of 68 containerships with a total capacity of approximately 513,000 TEU [5] Conference Call Details - Participants can join the conference call by dialing in 10 minutes prior to the scheduled time using specific numbers for the US, UK, and international calls [2] - A replay of the conference call will be available until May 15, 2025, with designated numbers for the US and international listeners [3] - There will also be a live webcast available on the Costamare Inc. website, requiring registration 10 minutes before the start [4] Company Overview - Costamare Inc. is a leading owner and provider of containerships for charter, with 51 years of history in the international shipping industry [5] - The company's common stock and preferred stocks trade on the New York Stock Exchange under various symbols [5]

Core Viewpoint - The market anticipates Costamare (CMRE) will report a year-over-year decline in earnings due to lower revenues for the quarter ended March 2025, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - Costamare is expected to post quarterly earnings of $0.52 per share, reflecting a year-over-year decrease of 17.5% [3]. - Revenues are projected to be $412.67 million, down 13.2% from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised 17% higher in the last 30 days, indicating a reassessment by analysts [4]. - The Most Accurate Estimate for Costamare is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +6.80% [10][11]. Earnings Surprise Prediction - A positive Earnings ESP reading suggests a potential earnings beat, especially when combined with a strong Zacks Rank [8]. - However, Costamare currently holds a Zacks Rank of 4, complicating the prediction of an earnings beat despite the positive Earnings ESP [11]. Historical Performance - In the last reported quarter, Costamare exceeded the expected earnings of $0.66 per share by delivering $0.69, resulting in a surprise of +4.55% [12]. - The company has beaten consensus EPS estimates in each of the last four quarters [13]. Industry Context - In the Zacks Transportation - Shipping industry, Ardmore Shipping (ASC) is expected to report earnings of $0.15 per share, indicating a year-over-year decline of 83.7% [17]. - Ardmore Shipping's consensus EPS estimate has been revised 37.8% lower in the last 30 days, leading to an Earnings ESP of -10.35% [18].

Core Viewpoint - Costamare Inc. has announced the spin-off of its dry bulk business into a new entity, Costamare Bulkers Holdings Limited, with the transaction expected to be completed on May 6, 2025 [1][4][6]. Spin-off Details - The spin-off will be executed through a pro rata distribution, where shareholders of Costamare Inc. will receive one share of Costamare Bulkers for every five shares of Costamare Inc. they hold as of the record date, April 29, 2025 [5][6]. - The timeline for the spin-off includes several key dates: - April 29, 2025: Record date and start of "due-bill" trading for Costamare Inc. shares - May 1, 2025: Start of "when-issued" trading for Costamare Bulkers shares and "ex-distribution" trading for Costamare Inc. shares - May 6, 2025: Distribution of Costamare Bulkers shares and end of "due-bill," "when-issued," and "ex-distribution" trading - May 7, 2025: Regular trading of Costamare Bulkers shares begins [3][4][5]. Company Profiles - Costamare Bulkers Holdings Limited will operate as an international owner and operator of dry bulk vessels, with a fleet of 38 vessels totaling approximately 3,017,000 deadweight tons (dwt) [7]. - Costamare Inc. is a leading owner and provider of containerships, with a fleet of 68 owned containerships and a total capacity of approximately 513,000 twenty-foot equivalent units (TEU) [8].

Company Performance - Costamare (CMRE) closed at $8.92, reflecting a -1.22% change from the previous day, underperforming the S&P 500's daily loss of 0.17% [1] - Over the past month, Costamare's shares have decreased by 12.25%, while the Transportation sector and S&P 500 have lost 7.62% and 3.94%, respectively [1] Earnings Expectations - The upcoming earnings report for Costamare is expected to show an EPS of $0.48, which is a 23.81% decline compared to the same quarter last year [2] - The Zacks Consensus Estimate for revenue is projected at $412.67 million, down 13.2% from the previous year [2] Full Year Projections - For the full year, the Zacks Consensus Estimates predict earnings of $2.52 per share and revenue of $1.74 billion, representing changes of -8.7% and -16.58% from the prior year [3] - Recent changes to analyst estimates for Costamare may indicate evolving short-term business trends, with positive revisions reflecting analyst optimism [3] Valuation Metrics - Costamare currently has a Forward P/E ratio of 3.59, indicating a discount compared to its industry's Forward P/E of 8.44 [5] Industry Context - The Transportation - Shipping industry ranks in the bottom 21% of all industries, with a current Zacks Industry Rank of 197 [6] - The Zacks Industry Rank assesses the strength of industry groups based on the average Zacks Rank of individual stocks, with top-rated industries outperforming the bottom half by a factor of 2 to 1 [6]

Company Overview - Costamare (CMRE) shares increased by 9% to close at $9.12, following a period of 17.6% loss over the past four weeks, indicating a notable volume of shares traded [1] - The stock's recent gain is linked to President Trump's announcement to pause "reciprocal" import taxes for 90 days, which has positively impacted shipping stocks that were previously affected by tariff-induced economic uncertainties [2] Earnings Expectations - Costamare is projected to report quarterly earnings of $0.48 per share, reflecting a year-over-year decline of 23.8%, with expected revenues of $412.67 million, down 13.2% from the previous year [3] - The consensus EPS estimate for Costamare has remained unchanged over the last 30 days, suggesting that stock price movements may not sustain without trends in earnings estimate revisions [4] Industry Context - Costamare operates within the Zacks Transportation - Shipping industry, which has seen other companies like Navigator Holdings (NVGS) also experience fluctuations, with NVGS shares rising 5.5% to $12.22 but showing a -16% return over the past month [4] - Navigator Holdings has a consensus EPS estimate of $0.33 for the upcoming report, representing a year-over-year increase of 6.5%, and also holds a Zacks Rank of 3 (Hold) [5]

Core Viewpoint - Costamare Inc. is set to spin off its dry bulk business into a new entity named Costamare Bulkers, which aims to unlock value and enhance growth prospects for both companies [5][6]. Group 1: Conference Call and Webcast Details - A virtual Analyst and Investor Day conference call will be held on April 9, 2025, at 9:00 a.m. ET, hosted by the incoming management team of Costamare Bulkers [1][2]. - Participants can join the call by dialing in 10 minutes prior to the start time using designated numbers for the US, UK, and international callers [2]. - A replay of the conference call will be available until April 16, 2025, with specific numbers provided for access [3]. Group 2: Spin-Off Information - The spin-off of Costamare Bulkers is expected to be completed within the current calendar year, pending regulatory approvals and final board approval [6]. - Costamare Bulkers will be listed on the New York Stock Exchange, indicating a significant step in the company's strategic restructuring [6]. Group 3: Company Overview - Costamare Inc. has a long-standing history of 51 years in the international shipping industry, owning 68 containerships with a total capacity of approximately 513,000 TEU and 38 dry bulk vessels with a total capacity of about 3,016,000 DWT [7]. - The company also operates a dry bulk platform (CBI) that engages in various chartering and freight agreements, enhancing its operational capabilities [7].

Company Performance - Costamare's stock closed at $9.84, reflecting a -1.2% change from the previous session, underperforming compared to the S&P 500's 0.55% gain [1] - Over the past month, Costamare's shares decreased by 2.16%, outperforming the Transportation sector's loss of 7.37% and the S&P 500's loss of 6.22% [1] Earnings Projections - The upcoming earnings report for Costamare is projected to show earnings per share (EPS) of $0.48, a decrease of 23.81% from the same quarter last year [2] - Revenue is estimated at $412.67 million, down 13.2% from the prior-year quarter [2] Full Year Estimates - For the full year, earnings are projected at $2.52 per share and revenue at $1.74 billion, representing changes of -8.7% and -16.58% respectively from the previous year [3] - Recent modifications to analyst estimates indicate the dynamic nature of near-term business trends, with positive revisions suggesting analyst optimism [3] Valuation Metrics - Costamare has a Forward P/E ratio of 3.96, significantly lower than the industry average Forward P/E of 8.75, indicating a potential discount [6] - The Transportation - Shipping industry is currently ranked 155 in the Zacks Industry Rank, placing it in the bottom 39% of over 250 industries [6] Zacks Rank System - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), has a strong track record, with 1 rated stocks averaging an annual return of +25% since 1988 [5] - Costamare currently holds a Zacks Rank of 3 (Hold), with the consensus EPS estimate remaining unchanged over the last 30 days [5]