Costamare (CMRE) Tops Q4 EPS by 2c, Slight Miss on Revenues

Costamare (NYSE: CMRE) reported Q4 EPS of $0.17, $0.02 better than the analyst estimate of $0.15. Revenue for the quarter came in at $100.62 million versus the consensus estimate of $102.61 million.

• Adjusted Net Income available to common stockholders of $18.4 million or $0.17 per share and $76.9 million or $0.77 per share for the three months and the year ended December 31, 2017, respectively.
• Accepted delivery on January 23, 2018 of the 3,800 TEU containership Polar Argentina (ex Hull Nr YZJ2015-1206). The vessel, upon its delivery, commenced its seven-year charter with Hamburg Süd.
• Acquired on November 3, 2017 the 2005-built 2,556 TEU container vessel CMA CGM L'Etoile with cash from operations.
• No ships laid up. Chartered in total 16 vessels since September 30, 2017.
• Remaining equity capital expenditure commitments of approximately $1.07 million (amount represents our participation) relating to one contracted newbuild vessel pursuant to our joint venture with York which is expected to be delivered in the second quarter of 2018.
• Declared dividend of $0.10 per share on our common stock and dividends on all three classes of our Preferred Stock.

For earnings history and earnings-related data on Costamare (CMRE) click here.

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