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Mar 31
Danaos Q1 2025 Earnings Report
Reported unaudited results for the three-month period ended March 31, 2025
Key Takeaways
Danaos Corporation reported a decrease in net income and adjusted net income for the first quarter of 2025 compared to the same period in 2024, primarily due to increased operating expenses, higher net finance expenses, and lower investment gains. Revenue remained relatively stable.
Net income decreased to $115.1 million in Q1 2025 from $150.5 million in Q1 2024.
Adjusted net income decreased to $113.4 million in Q1 2025 from $140.0 million in Q1 2024.
Diluted EPS was $6.13 in Q1 2025, down from $7.68 in Q1 2024.
Adjusted diluted EPS was $6.04 in Q1 2025, down from $7.15 in Q1 2024.
Danaos
Danaos
Danaos Revenue by Segment
Revenue by Segment
Container Vessels Revenue
CapyFin.comDrybulk Vessels Revenue
CapyFin.com Forward Guidance
Danaos is holding off on new vessel investments and focusing on optimizing the existing fleet. The company has a significant backlog of 15 container vessels scheduled for delivery over the next three years, all with solid charter arrangements.
Positive Outlook
- Charter coverage for 2025 and 2026 is largely secured.
- 15 container vessels on order with committed profitable charter arrangements.
- Newbuilding vessels will enhance fleet profile and earnings potential.
- Committed to delivering superior returns to shareholders.
- Disciplined execution and long-term strategic focus.
Challenges Ahead
- Global disruption continues, including armed conflicts and tariff uncertainty.
- Dramatic decline in the U.S. Pacific Market.
- Dry bulk market recovery has been modest.
- Meaningful and sustained recovery in dry bulk challenging without further growth in China.
- Financial performance impacted by charter renewals at lower rates than during the Covid pandemic.