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03 AUG 2026 MONDAY
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Costamare Bulkers Holdings Limited Reports Results For the First Quarter Ended March 31, 2026 in Hellenic Shipping News 14/05/2026 Costamare Bulkers Holdings Limited yesterday reported unaudited financial results for the first quarter ended March 31, 2026 (“Q1 2026”). Financial Highlights1 and Operational Updates I. PROFITABILITY – LIQUIDITY – DEBT Q1 2026 Net Income of $9.9 million ($0.41 earnings per share). Q1 2026 Adjusted Net Income2 of $12.4 million ($0.51 earnings per share). Q1 2026 liquidity of $353.3 million3. Cash4 exceeding Debt5 by $127.2 million as of the end of Q1 2026. II. FLEET RENEWAL Vessel Acquisition Conclusion of the purchase of the 2018-built, 60,297 DWT capacity dry bulk vessel, Astros (ex. Koushun)6. Long-term Charter-in Agreements Delivery of the newbuild, 81,800 DWT capacity dry bulk vessel, Hermes Century: Minimum tenor of charter-in period of 5 years. Company retains extension options and purchase options for the tenor of the charter-in period. Vessel has been time-chartered out for a period of approximately one year at a rate generating a daily gross profit of approximately $3,600. Agreement to charter-in an additional newbuild Kamsarmax vessel under a long‑term period charter with extension and purchase options upon delivery (expected Q2 2027–Q1 2028). Vessel Disposals Conclusion of the sale of the 2011-built, 180,643 DWT capacity dry bulk vessel, Miracle, resulting in capital gains of approximately $7.0 million. 1 This earnings release focuses on the financial results and management’s discussion and analysis of Costamare Bulkers for the three-month period ended March 31, 2026. Costamare Bulkers had nominal operations during the corresponding period in 2025 and remained a wholly owned subsidiary of Costamare Inc. (“Costamare”), a New York Stock Exchange (“NYSE”) listed company, until May 6, 2025, when it became an independent publicly traded company listed on the NYSE through a spin-off from Costamare. Accordingly, no comparative figures are presented for the three-month period ended March 31, 2025. 2 Adjusted Net Income and respective per share figures are non-GAAP measures and should not be used in isolation or as substitutes for Costamare Bulkers financial results presented in accordance with U.S. generally accepted accounting principles (“GAAP”). For the definition and reconciliation of these measures to the most directly comparable financial measure calculated and presented in accordance with GAAP, please refer to Exhibit I. 3 Liquidity includes Cash (as defined in footnote 4) and $84.7 million of available undrawn funds from one hunting license facility as of March 31, 2026. 4 Cash denotes Cash and cash equivalents (including restricted cash) of $258.5 million plus margin deposits of $10.1 million relating mainly to our forward freight agreements (“FFAs”) and bunker swaps. 5 Debt denotes Long-term debt including current and non-current portion. 6 The vessel is currently on time charter, expiring in February 2027 (at the earliest) with charterers’ option to extend until June 2028. III. OPERATING PLATFORM Completion7 of the transfer of the majority of the trading book8 to Cargill International S.A. (“Cargill”). The operating platform9 is currently focused on Kamsarmax-type vessels and consists of 20 third-party owned dry bulk vessels including: Two Capesize vessels chartered-in under period charters (one expected to be redelivered within 2026). 18 Kamsarmax vessels, 17 of which are chartered-in under s
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press_release Hellenic Shipping News ·2026-05-13

Costamare Bulkers Holdings Limited Reports Results For the First Quarter Ended March 31, 2026

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