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).

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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