Preferred dividends remain well-covered by earnings and cash flow. The revenue and earnings decline warrants monitoring of container shipping rates and the company's ability to maintain profitability as newbuild vessels enter service. No immediate credit risk, but a sustained downtrend could pressure the preferred stock.
Price Chart
Executive Summary
Costamare Inc. reported Q1 2026 results with total revenues of $211.1M, down 5.3% YoY from $222.9M, and net income from continuing operations of $81.9M, down 26.8% from $111.9M. Preferred dividends were paid as scheduled, and the issuer remains profitable with solid cash flow, though the earnings decline signals a softer market for container shipping.
Key Facts
- Q1 2026 total revenues $211.1M vs $222.9M in Q1 2025, a 5.3% decline.
- Net income from continuing operations $81.9M vs $111.9M, down 26.8%.
- Preferred dividends paid: $5.1M allocated to preferred stock in Q1 2026, unchanged.
- Operating income fell to $97.3M from $123.1M, driven by lower voyage revenue and higher expenses.
- Cash and cash equivalents increased to $575.1M from $519.8M at year-end 2025.
Financial Impact
Revenue decline of ~$11.8M and net income decline of ~$30M from continuing operations in Q1 2026 vs Q1 2025.
Risk Factors
- Further deterioration in container shipping market conditions.
- Large capital commitments ($0.7B) for newbuilds could strain liquidity if earnings continue to decline.
- Concentration of charterers (80% of revenue from top 5).
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001171843-26-003578 |
| Document: f6k_052026.htm | 0001171843-26-003578 |
| Document: 0001171843-26-003578-index-headers.html | 0001171843-26-003578 |
| Document: 0001171843-26-003578-index.html | 0001171843-26-003578 |
| Document: 0001171843-26-003578.txt | 0001171843-26-003578 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 20d ago | 6-K | $15.10 | awaiting T+20 | — | $13.93 (−7.75%) |
Oct 6, 2026 20d ago | Press Release | $15.10 | awaiting T+20 | — | $13.93 (−7.75%) |
Oct 1, 2026 25d ago | 6-K | $15.23 | awaiting T+20 | — | $13.93 (−8.54%) |
Oct 1, 2026 25d ago | Press Release | $15.23 | awaiting T+20 | — | $13.93 (−8.54%) |
Aug 12, 2026 10w ago | 6-K | $14.16 $15.11 | ▲ +6.71% | ▲ +8.61% | $13.93 (−1.62%) |
Jul 27, 2026 13w ago | 6-K | $15.62 $15.58 | ▼ −0.26% | ▼ −3.55% | $13.93 (−10.82%) |
Jul 27, 2026 13w ago | Press Release | $15.62 $15.58 | ▼ −0.26% | ▼ −3.55% | $13.93 (−10.82%) |
Jul 13, 2026 15w ago | 6-K | $15.46 $14.43 | ▼ −6.66% | ▼ −9.85% | $13.93 (−9.90%) |
May 20, 2026 22w ago | 6-K | $26.35 $26.05 | ▼ −1.14% | ▼ −1.47% | $13.93 (−47.13%) |
Apr 29, 2026 25w ago | 6-K | $26.50 $26.62 | ▲ +0.45% | ▼ −5.60% | $13.93 (−47.43%) |
US Market Status
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