Costamare Q4 Earnings Call Highlights

Costamare (NYSE:CMRE) reported fourth-quarter 2025 nett income of astir $73 cardinal and full-year nett income of astir $370 million, according to Chief Financial Officer Gregory Zikos connected the company’s net call. Zikos said the institution ended the twelvemonth with liquidity of $590 cardinal and characterized the charter marketplace arsenic “strong,” citing precocious request for tonnage and constricted vas availability.

On the call, Zikos highlighted the company’s adjusted figures, stating that adjusted nett income for 2025 was astir $376 million, oregon $3.12 per share. For the 4th quarter, adjusted nett income was astir $72 million, oregon $0.60 per share. He reiterated that liquidity stood astatine $590 million.

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Zikos said Costamare has been executing a strategy focused connected securing semipermanent currency flows with “high-quality counterparties.” During the quarter, the institution forward-chartered 12 vessels ranging from 4,000 to 14,000 TEUs, with commencements dispersed implicit the adjacent 3 years. He said the TEU-weighted mean duration of the caller charters is six years.

The CFO said the incremental contracted revenues associated with the caller charters full astir $940 million. Following these fixtures, helium said fleet deployment and fixed gross days stood astatine precocious levels, with the fleet “now” astatine 96% and 92% for 2026 and 2027, respectively. Elsewhere successful the prepared remarks, helium besides described gross days arsenic fixed astatine 96% for 2026 and 92% for 2027.

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In total, Zikos said contracted revenues reached $3.4 cardinal and that the remaining clip charter duration is 4.5 years connected a TEU-weighted basis. He added that the company’s idle fleet is little than 1%.

Management described instrumentality charter rates arsenic remaining astatine “robust levels.” Zikos said request for vessels continues to beryllium precocious and proviso is limited, pointing to an ongoing shortage of caller ships. He besides cited “very low” levels of “added fleet” of 0.5%, which helium said indicates a afloat employed market.

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On financing, Zikos said the institution agreed to pre- and post-delivery financing for each six of its newbuild vessels. He besides said Costamare agreed to refinance 2 instrumentality ships astatine a “substantially little backing cost.”

Regarding the indebtedness maturity profile, Zikos said determination are nary important maturities until 2027.