Costamare Shares Slip Post Q3 Earnings Miss, Records 37% Revenue Growth
Portfolio Pulse from Akanksha Bakshi
Costamare Inc reported Q3 FY23 Voyage revenue growth of 37.2% YoY to $397.34 million, beating consensus of $310.53 million. However, its adjusted EPS was $0.46, missing the consensus of $0.66. The company repurchased 882,316 common shares for a total of $10 million during the quarter. Costamare's shares are trading lower by 5.20% at $8.56.
November 01, 2023 | 5:37 pm
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Costamare's Q3 FY23 Voyage revenue exceeded expectations, but its EPS fell short. The company's shares are currently trading lower.
Costamare's Q3 revenue beat expectations, indicating strong business performance. However, the company's EPS missed the consensus, which could be a sign of increased costs or decreased profitability. This mixed financial performance, along with the company's share repurchase, is likely contributing to the decrease in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100