Costamare (CMRE) Q2 2026 earnings summary

Executive summary

• Q2 2026 adjusted net income from continuing operations was $75.1 million ($0.62 per share), with reported net income at $77.4 million ($0.64 per share).

• Six-month adjusted net income was $151.1 million ($1.25 per share), with reported net income at $152.6 million ($1.27 per share).

• Liquidity stood at $423.0 million as of June 30, 2026, including cash, equivalents, and short-term investments.

• Completed the spin-off of the dry bulk business in May 2025; results now reflect only continuing operations.

Financial highlights

• Q2 2026 voyage revenue was $200.8 million, down 4.8% year-over-year; six-month revenue was $402.3 million, down 6.0%.

• Adjusted net income from continuing operations decreased from $92.5 million in Q2 2025 to $75.1 million in Q2 2026.

• Operating income for Q2 2026 was $97.7 million, down from $114.6 million in Q2 2025.

• Q2 2026 dividend increased to $0.125 per share, marking 63 consecutive quarterly dividends.

• Income from investments in leaseback vessels rose to $8.4 million in Q2 2026 (+20% YoY).

Outlook and guidance

• 97% and 94% of the containership fleet fixed for 2026 and 2027, respectively, supporting revenue visibility.

• Total contracted revenues for the containership fleet are approximately $6.1 billion, with a TEU-weighted duration of 5.9 years.

• Charter rates are firming in an active market, with broad-based fixtures across vessel sizes.

• Future growth expected in the lease financing platform, supported by a healthy deal pipeline.