Costamare announced financial results for Q2 2025

Costamare announced its unaudited financial results for the second quarter and the six-month period ending June 30, 2025.

The financial results for these periods reflect the spin-off of Costamare’s dry bulk business, which includes its dry bulk fleet and the operating platform, Costamare Bulkers, into a standalone public company.

This spin-off was completed on May 6, 2025, and as a result, the financials for the dry bulk business are presented as discontinued operations for all periods shown.

For the three- and six-month periods ending June 30, 2025, the discontinued operations include the dry bulk business up until May 6, 2025, the effective date of the spin-off.

In comparison, the results for the same periods in 2024 reflect the full financials of the dry bulk business for the entire three- and six-month periods, respectively.

These differences in reporting periods should be considered when evaluating the results of discontinued operations across periods.

For the second quarter of 2025, Costamare reported a net income from continuing operations of US$99.6 million, or US$0.83 per share, available to common stockholders. Adjusted net income from continuing operations for the same period was US$92.5 million, or US$0.77 per share.

The company’s liquidity for Q2 2025 stood at US$524.5 million.

Mr. Gregory Zikos, Chief Financial Officer of Costamare, commented that during Q2 2025, the Company generated net income from continuing operations of approximately $99 million.

He added that in July, they ordered four newbuild containerships from a Chinese shipyard, each with a capacity of about 3,100 TEU while they simultaneously, chartered two 6,500 TEU containerships for a three-year period, with deliveries scheduled for Q1 and Q2 of 2026. He highlighted that these transactions will increase the contracted revenues by over $310 million.

He also noted that the fleet is fully employed for 2025, with 100% fleet utilization, and stands at 75% employment for 2026.

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