Costamare Inc. reported its unaudited third‑quarter 2025 results, posting a net income of $97.9 million and earnings per share of $0.81, surpassing consensus estimates of $0.70. Revenue for the quarter was $225.2 million, above the $197.9 million expected by analysts.
The company’s 69‑vessel containership fleet remained fully employed, with 100 % employment in 2025 and an 80 % projection for 2026. Contracted revenues for the quarter and nine‑month period totaled $2.6 billion, with a remaining time‑charter duration of 3.2 years.
Costamare exercised its option for two additional 3,100‑TEU sister ships, slated for delivery in the first quarter of 2028, and fixed eight vessels with forward starts ranging from 12 to 38 months. The company also acquired the secondhand container vessel Maersk Puelo, a 6,541‑TEU ship, expanding its fleet footprint.
Neptune Maritime Leasing (NML) activity accelerated, with the company investing $182.2 million and funding or committing 50 shipping assets. Total investments and commitments in the leasing platform now exceed $650 million, underscoring NML’s role as a key growth engine for Costamare’s post‑spin‑off strategy.
Management highlighted a robust charter market driven by a low idle fleet, vessel shortages, and steady demand from data‑center and consumer‑goods sectors. The company also noted that the dry‑bulk business was spun off into Costamare Bulkers Holdings Limited on May 6, 2025, allowing Costamare to focus on container shipping.
The company declared a quarterly dividend of $0.115 per share on common stock, payable on November 6, 2025. Cash and cash equivalents stood at $569.6 million at the end of the quarter, with no significant debt maturities until 2027.
Compared with the same period in 2024, net income rose from $75.5 million to $97.9 million, and revenue increased from $225.75 million to $225.2 million, reflecting stronger charter rates and higher utilization.
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