Costamare(US:CMRE)2021-10-27 13:16Financial Performance - Net Income available to common stockholders increased by 517% to $107.4 million in Q3 2021, compared to $17.4 million in Q3 2020[2] - Earnings per Share increased by 521% to $0.87 in Q3 2021, compared to $0.14 in Q3 2020[2] - Adjusted Net Income available to common stockholders increased by 205% to $81.5 million in Q3 2021, compared to $26.7 million in Q3 2020[2] - Adjusted Earnings per Share increased by 200% to $0.66 in Q3 2021, compared to $0.22 in Q3 2020[2] Fleet Expansion and Sales - Delivery of 20 dry bulk vessels, bringing the total delivered fleet to 34 vessels, with 3 additional vessels expected to be delivered within 2021[3] - The company sold 3 containerships built between 2001 and 2003 for capital gains of $36 million[3] Financing and Capital Structure - Concluded new financing for a hunting license facility of $150 million with a European financial institution[6] - The company has liquidity of $303.1 million, which, coupled with the $254.7 million of undrawn funds from hunting license facilities, amounts to $557.8 million[6] - Leverage, based on market values, is 32.3% as calculated for compliance certificates[7] Charter Fixtures - Containership new fixtures were done at levels on average 2x at higher rates and 3x at longer average duration than previous fixtures[9] - Dry bulk charter fixtures averaged $40,880 per day[11] Market Environment - Containership charter rates increased by more than 418% year over year[13] - The newbuilding orderbook for dry bulk vessels is 6.5% of the total fleet[14]