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Costamare Inc. (CMRE)
NYSE:CMRE
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Earnings Data
Report Date
Feb 04, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.71Last Year’s EPS
$0.68Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 01, 2024
|% Change Since: -8.96%
|Next Earnings Date:Feb 04, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a strong financial performance with high liquidity and successful chartering activities. However, challenges such as high asset prices and potential market threats due to increased newbuilding capacity indicate caution. The highlights, particularly in financial performance and fleet utilization, slightly outweigh the lowlights.Company Guidance
In the third quarter of 2024, CMRE reported a net income of $75.5 million, or $0.63 per share, with an adjusted net income of $81 million, or $0.68 per share. Liquidity exceeded $1 billion, supporting potential growth opportunities. The containership fleet employment was fully secured at 100% for 2024 and 94% for 2025, contributing to contracted revenues of $2.3 billion with a remaining time charter duration of 3.3 years. The company chartered seven containerships, forecasting additional contracted revenues of $165 million. On the dry bulk side, CMRE acquired two Ultramax and one Capesize vessel while selling older tonnage, reflecting strategic fleet renewal. Neptune Maritime Leasing showed growth with committed funding for 32 shipping assets, totaling approximately $410 million. The firm also prepaid $100 million in unsecured bonds and refinanced its dry bulk fleet without increasing leverage, achieving improved funding costs and extended maturities.Strong Financial Performance
The company generated a net income of $80 million in Q3 with liquidity exceeding $1 billion. Adjusted net income was reported at $81 million or $0.68 per share.
Containership Fleet Utilization
The containership fleet employment stands at 100% for 2024 and 94% for 2025, with total contracted revenues amounting to $2.3 billion and a remaining time charter duration of 3.3 years.
Successful Chartering Activity
Seven containerships were chartered with incremental contracted revenues of over $165 million.
Neptune Maritime Leasing Growth
Neptune Maritime Leasing platform continues to grow with committed funding for 32 shipping assets, reflecting total funding commitments of about $410 million.
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CMRE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CMRE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 01, 2024 | $13.61 | $13.73 | +0.88% |
| Jul 31, 2024 | $13.86 | $14.70 | +6.06% |
| May 10, 2024 | $13.22 | $13.16 | -0.45% |
| Feb 07, 2024 | $10.14 | $10.62 | +4.73% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Costamare Inc. (CMRE) report earnings?
Costamare Inc. (CMRE) is schdueled to report earning on Feb 04, 2025, TBA Not Confirmed.
What is Costamare Inc. (CMRE) earnings time?
Costamare Inc. (CMRE) earnings time is at Feb 04, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CMRE EPS forecast?
CMRE EPS forecast for the fiscal quarter 2024 (Q4) is $0.71.
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