Monitor dry bulk freight rate volatility, particularly Capesize and Panamax segments, as the company's earnings are directly tied to charter rates. The completion of the Cargill portfolio transfer and net cash position provide downside protection, but lack of guidance limits near-term catalysts. Watch for Q3 vessel sale closing and any fleet renewal announcements.
Price Chart
Executive Summary
Costamare Bulkers reported Q2 2026 net income of $5.2M ($0.21/share) and adjusted net income of $9.8M ($0.40/share), with total voyage revenue of $111.6M. The company completed the transfer of its legacy trading portfolio to Cargill, reducing balance sheet risk, and remains net cash positive with cash exceeding debt by $108.9M. No comparative prior-year figures are available due to the May 2025 spin-off, and no guidance was provided, making this a neutral operational update.
Key Financial Metrics
Key Facts
- Q2 2026 net income of $5.2M ($0.21/share) on total voyage revenue of $111.6M.
- Adjusted net income of $9.8M ($0.40/share) excludes non-cash and non-recurring items.
- Cash and cash equivalents (including restricted cash) of $234.8M plus $12.0M in margin deposits; total liquidity of $331.5M including undrawn facility.
- Cash exceeds total debt by $108.9M as of June 30, 2026.
- Completed transfer of legacy trading portfolio to Cargill; expects platform free of remaining legacy positions by year-end.
- Agreed to sell 2009-built Supramax vessel Bermondi, expected to close in Q3 2026.
- Owned fleet of 30 dry bulk vessels (including one held for sale) with total capacity of ~2.7M DWT.
- No comparative prior-year figures due to spin-off from Costamare Inc. on May 6, 2025.
- No guidance or forward-looking financial projections provided.
Financial Impact
Q2 2026 total voyage revenue $111.6M; net income $5.2M; adjusted net income $9.8M; cash exceeds debt by $108.9M
Risk Factors
- Dry bulk freight rate volatility, especially Capesize segment which saw $20,000/day correction in late June.
- Geopolitical uncertainty and energy market turbulence impacting charter rates.
- Execution risk on remaining legacy trading positions and operating platform realignment.
- No comparative financials due to spin-off history, making trend analysis difficult.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3337283 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 8, 2026 19d ago | 6-K | $21.32 | awaiting T+20 | — | $20.21 (−5.21%) |
Aug 18, 2026 10w ago | 6-K | $19.39 $23.44 | ▲ +20.89% | ▲ +22.63% | $20.21 (+4.23%) |
Aug 14, 2026 10w ago | 6-K | $18.23 $24.21 | ▲ +32.80% | ▲ +34.79% | $20.21 (+10.86%) |
Aug 3, 2026 12w ago | Press Release | $20.14 $20.47 | ▲ +1.64% | ▲ +0.40% | $20.21 (+0.35%) |
Jul 31, 2026 12w ago | Press Release | $19.56 $20.52 | ▲ +4.91% | ▲ +1.92% | $20.21 (+3.32%) |
Jul 17, 2026 14w ago | 6-K | $18.81 $18.23 | ▼ −3.08% | ▼ −7.53% | $20.21 (+7.44%) |
Jun 2, 2026 21w ago | 6-K | $16.56 $18.21 | ▲ +9.96% | ▲ +11.53% | $20.21 (+22.04%) |
May 13, 2026 23w ago | 6-K | $18.90 $17.60 | ▼ −6.88% | ▼ −6.27% | $20.21 (+6.93%) |
May 8, 2026 24w ago | Press Release | $19.34 $16.51 | ▼ −14.63% | ▼ −14.66% | $20.21 (+4.50%) |
Mar 30, 2026 30w ago | Press Release | $15.47 $17.00 | ▲ +9.89% | ▲ +0.47% | $20.21 (+30.64%) |
US Market Status
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