Costamare Inc (NYSE:CMRE)
$ 13.02 -0.48 (-3.56%) Market Cap: 1.56 Bil Enterprise Value: 3.28 Bil PE Ratio: 4.33 PB Ratio: 0.63 GF Score: 91/100
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Q3 2020 Costamare Inc Earnings Call Transcript

Oct 28, 2020 / 12:30PM GMT
Release Date Price: $5.78 (-11.89%)
Operator

Thank you for standing by, ladies and gentlemen, and welcome to the Costamare Inc. Conference Call on the Third Quarter 2020 Financial Results. We have with us Mr. Gregory Zikos, Chief Financial Officer of the company. (Operator Instructions) I must advise you that this conference is being recorded today, Wednesday, October 28, 2020.

We would like to remind you that this conference call contains forward-looking statements. Please take a moment to read Slide #2 of the presentation, which contains the forward-looking statements.

And I will now pass the floor to your speaker today, Mr. Zikos. Please go ahead, sir.

Gregory G. Zikos
Costamare Inc. - CFO & Director

Thank you, and good morning, ladies and gentlemen. During the third quarter, the company continued its profitability. As part of our fleet renewal program, we sold for demolition 2 vessels with an average age of 23 years, and we agreed to acquire 3 larger secondhand ships, on average 11 years younger. The new acquisitions will be initially funded with equity. Meanwhile, our

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