Costamare Inc. (CMRE) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by, ladies and gentlemen, and welcome to the Customer, Inc. conference call on the fourth quarter 2025 financial results. We have with us Mr. Gregory Zicos, Chief Financial Officer of the company. At this time, all participants are in a listen-only mode. There will be a presentation followed by a question and answer session, at which time, if you would like to ask a question, please press star 1 on your telephone keypad and wait for your name to be announced. I must advise you that this conference is being recorded today, Wednesday, February 18th, 2026. I would like to remind you that this conference contains forward-looking statements. Please take a moment to read slide number two of the presentation, which contains the forward-looking statements. And I will now pass the floor to your speaker. Mr. Zicos, please go ahead, sir. Thank you, and good morning, ladies and gentlemen. During the fourth quarter of the year, the company generated a net income of about $73 million. The income for the whole year was about $370 million, with liquidity of $590 million. Executing on our strategy of securing long-term cash flows from high-quality counterparties in a healthy market environment, we have forward-charged 12 assets from four groups of 2,000 DUs, all commencing over the next three years, with a DU-weighted average duration of six years. Incremental contracted revenues from the new charges amount to approximately $940 million. As a consequence, the fleet employment now stands at 96% and 92% for 2036 and 2037, respectively. Total contracted revenues have reached $3.4 billion, with a remaining time-traded duration of 4.5 years. With an average fleet of less than 1%, the charter market remains strong, with continued high demand for tonnage, a limited su...