Palantir shares slip by 7% despite posting record revenue in third quarter
MONACO - On Tuesday, Costamare Inc. (NYSE:CMRE) reported third-quarter adjusted earnings of $0.81 per share, exceeding analyst expectations of $0.70, while revenue reached $225.2 million, significantly above the consensus estimate of $197.9 million.
Net income from continuing operations available to common stockholders was $92.6 million, or $0.77 per share, for the quarter ended September 30, 2025. The company reported total revenue of $225.2 million, including $215.9 million from voyage revenue and $9.3 million from investments in leaseback vessels.
"During the third quarter of the year, the Company generated Net Income of about $99 million," said Gregory Zikos, Chief Financial Officer of Costamare. "After the spin-off of Costamare Bulkers Holdings Limited, Costamare Inc . remains the sole shareholder of 69 containerships as well as the controlling shareholder of Neptune Maritime Leasing."
The company announced it has ordered two additional 3,100 TEU containership newbuildings, bringing its total newbuild orders to six vessels. Upon delivery in Q1 2028, these ships will begin 8-year charters with a leading liner company. Costamare’s containership fleet is 100% employed for 2025 and 80% fixed for 2026, with contracted revenues of approximately $2.6 billion.
Costamare maintained strong liquidity with $569.6 million in cash and cash equivalents at quarter-end. The company recently declared a quarterly dividend of $0.115 per share on common stock, payable on November 6, 2025.
Regarding market conditions, Zikos noted, "With idle fleet of less than 1%, the charter market remains strong with rates fixed at healthy and stable levels on the back of vessel shortage and steady demand."
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