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Costamare Full Year 2023 Earnings: EPS: US$2.95 (vs US$4.26 in FY 2022)

editorial-team@simplywallst.com (Simply Wall St)
·1-min read

Costamare (NYSE:CMRE) Full Year 2023 Results

Key Financial Results

  • Revenue: US$1.51b (up 36% from FY 2022).

  • Net income: US$354.7m (down 32% from FY 2022).

  • Profit margin: 24% (down from 47% in FY 2022).

  • EPS: US$2.95 (down from US$4.26 in FY 2022).

revenue-and-expenses-breakdown
revenue-and-expenses-breakdown

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 Container Vessels segment contributing a total revenue of US$839.4m (56% of total revenue). Notably, cost of sales worth US$908.6m amounted to 60% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to US$166.3m (67% of total expenses). Explore how CMRE's revenue and expenses shape its earnings.

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Looking ahead, revenue is forecast to decline by 13% p.a. on average during the next 2 years, while revenues in the Shipping industry in the US are expected to remain flat.

Performance of the American Shipping industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Before we wrap up, we've discovered 4 warning signs for Costamare (1 doesn't sit too well with us!) that you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.