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Sep 30, 2025
Danaos Q3 2025 Earnings Report
Danaos reported solid financial results in Q3 2025, with increases in net income and revenue driven by strong charter coverage and fleet utilization.
Key Takeaways
Danaos delivered a strong quarter with $130.6M in net income and steady operational performance. The company expanded its newbuilding program and added significantly to its revenue backlog.
Net income reached $130.6M with EPS of $7.11.
Adjusted EBITDA came in at $181.6M for the quarter.
Danaos added $745M to its contracted revenue backlog, now totaling $4.1B.
Fleet utilization remained high with drybulk at 100% and container vessels at 98.1%.
Revenue by Segment
Forward Guidance
Danaos expects strong charter market conditions to continue, backed by long-term contracts and disciplined fleet expansion.
Positive Outlook
- Added $745M to revenue backlog through charters and extensions.
- Orderbook of 23 newbuildings with 21 already secured under charter.
- Strong demand for mid-size and larger vessels into 2028.
- Robust financial position with $971M in liquidity.
- Completed $500M bond offering at competitive rate.
Challenges Ahead
- Lower charter rates impacted revenue growth despite higher utilization.
- Net income slightly declined YoY on an adjusted basis.
- Rising operating costs due to fleet expansion and higher OpEx per vessel.
- Uncertainty persists in Red Sea transit and global geopolitical risks.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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