Costamare Second Quarter 2024 Earnings: Beats Expectations

In this article:

Costamare (NYSE:CMRE) Second Quarter 2024 Results

Key Financial Results

  • Revenue: US$515.4m (up 40% from 2Q 2023).

  • Net income: US$102.2m (up 62% from 2Q 2023).

  • Profit margin: 20% (up from 17% in 2Q 2023). The increase in margin was driven by higher revenue.

  • EPS: US$0.86 (up from US$0.52 in 2Q 2023).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

Costamare Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 26%. Earnings per share (EPS) also surpassed analyst estimates by 4.1%.

Looking ahead, revenue is forecast to decline by 26% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat.

Performance of the American Shipping industry.

The company's shares are up 3.7% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 4 warning signs for Costamare (2 are potentially serious!) that you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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