Costamare(US:CMRE)2025-05-08 11:39Financial Performance - Q1 2025 Net Income available to common stockholders was $95 million ($0.79 per share)[6] - Q1 2025 Adjusted Net Income available to common stockholders was $73.3 million ($0.61 per share)[6] - The company had a liquidity of $1,022.6 million, including margin deposits, short term investments, and a hunting license facility[6] Spin-off of Dry Bulk Business - The spin-off of the dry bulk business was completed on May 6, 2025, with a distribution ratio of one CMDB share for every five CMRE shares[11] - Following the spin-off, Costamare Bulkers Holdings Limited (CMDB) owns 37 dry bulk vessels with approximately $174.5 million in bank debt[11] Chartering and Fleet - 100% of the containership fleet is fixed for 2025, and 73% is fixed for 2026, calculated on a TEU basis[11] - Contracted revenues for the containership fleet are approximately $2.3 billion with a TEU-weighted duration of 3.3 years[11] - Costamare Bulkers Inc chartered-in 48 period vessels with a total capacity of approximately 7.9 million dwt[20] Sale and Purchase Activity - The sale of the dry bulk vessel Rose concluded in April 2025, generating net sale proceeds of $4.1 million after debt prepayment[13] - An agreement was made for the sale of the dry bulk vessel Resource, with estimated net sale proceeds of $3.3 million after debt prepayment, expected within Q2 2025[13] Debt and Financing - A new bilateral loan facility was established for approximately $23.5 million to refinance existing indebtedness of one container vessel[16] - Approximately $150.2 million of bank debt related to the dry bulk owned fleet was prepaid[16]