Costamare Full Year 2024 Earnings: EPS: US$2.44 (vs US$2.95 in FY 2023)

Costamare (NYSE:CMRE) Full Year 2024 Results

Key Financial Results

• Revenue: US$2.08b (up 38% from FY 2023).
• Net income: US$290.7m (down 18% from FY 2023).
• Profit margin: 14% (down from 24% in FY 2023). The decrease in margin was driven by higher expenses.
• EPS: US$2.44 (down from US$2.95 in FY 2023).

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

Costamare Earnings Insights

The primary driver behind last 12 months revenue was the CBI segment contributing a total revenue of US$1.02b (49% of total revenue). Notably, cost of sales worth US$1.36b amounted to 65% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling US$173.2m were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how CMRE's revenue and expenses shape its earnings.

Looking ahead, revenue is expected to fall by 32% p.a. on average during the next 2 years compared to a 2.2% decline forecast for the Shipping industry in the US.

Performance of the American Shipping industry.

The company's shares are down 1.7% from a week ago.

Risk Analysis

Before you take the next step you should know about the 3 warning signs for Costamare that we have uncovered.

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