Costamare(US:CMRE) Globenewswireยท2025-11-04 12:11Core Viewpoint - Costamare Inc. reported its financial results for Q3 2025, highlighting a strong performance in continuing operations following the spin-off of its dry bulk business, with significant liquidity and contracted revenues. Group I: Profitability and Financial Performance - Adjusted Net Income from Continuing operations for Q3 2025 was $98.0 million, or $0.81 per share, while Net Income from Continuing operations was $92.6 million, or $0.77 per share [7] - For the nine-month period ended September 30, 2025, the company reported a slight decrease in voyage revenue of 0.4%, totaling $644.0 million compared to $646.8 million in the same period of 2024 [60][62] - The company maintained a liquidity position of $569.6 million as of Q3 2025 [7] Group II: Fleet and Operations - Costamare's fleet was fully employed for 2025, with 100% of the containership fleet fixed for 2025 and 80% for 2026, resulting in contracted revenues of approximately $2.6 billion with a TEU-weighted duration of 3.2 years [8][15] - The company concluded two newbuilding contracts for 3,100 TEU containerships, bringing the total to six, with deliveries expected in Q1 2028 [7][14] Group III: Debt and Financing - Costamare successfully refinanced four of its 14,424 TEU vessels and two of its 12,690 TEU vessels, with total drawn amounts of $361.6 million and a repayment tenor of five years [8] - The company has no significant debt maturities until 2027, indicating a stable financial outlook [8] Group IV: Investment and Dividends - The company declared a dividend of $0.115 per share on common stock, payable on November 6, 2025, and also declared dividends on its preferred stock series [17] - Costamare's investment in Neptune Maritime Leasing Limited amounted to $182.2 million, representing 91.1% of its total committed investment [17]