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Mar 31
Costamare Q1 2025 Earnings Report
Costamare Inc. reported its financial results for the first quarter ended March 31, 2025.
Key Takeaways
Costamare Inc. generated a net income of $95.0 million for Q1 2025, with total revenues of $446.226 million. The company completed the spin-off of its dry bulk business and maintained a fully employed containership fleet for 2025.
Q1 2025 Net Income available to common stockholders was $95.0 million ($0.79 per share).
The spin-off of Costamare's dry bulk business into a standalone public company was completed on May 6, 2025.
The containership fleet is 100% fixed for 2025 and 73% fixed for 2026.
Total contracted revenues for the containership fleet amount to approximately $2.3 billion with a TEU-weighted duration of 3.3 years.
Costamare
Costamare
Forward Guidance
Costamare Inc. anticipates continued strong performance in the containership market, supported by high fleet employment and contracted revenues. The company expects to benefit from its growing leasing platform and strategic business separation.
Positive Outlook
- The containership market maintains momentum despite geopolitical challenges and economic uncertainties.
- The commercially idle fleet remains below 1%, indicating a fully employed market.
- Proposed USTR fees may initially result in inefficiencies, boosting tonnage demand.
- The containership fleet employment stands at 100% for 2025 and 73% for 2026.
- Total contracted revenues for the containership fleet amount to $2.3 billion with a remaining time charter duration of 3.3 years.
Challenges Ahead
- The dry bulk sector experienced a challenging start to the year.
- The company did not record any gain on sale of vessels in Q1 2025.
- A loss on vessel held for sale of $4.7 million was recorded.
- An impairment loss of $0.2 million was recorded for one dry bulk vessel.
- Interest income decreased compared to the previous year.