Danaos Q1 Net Income Rises

(RTTNews) - Danaos (DAC) reported that first quarter net income increased to $150.5 million from $146.2 million, last year. Earnings per share was $7.68 compared to $7.18. Adjusted net income was $140.0 million, or $7.15 per share, compared to $145.3 million, or $7.14 per share, a year ago. Analysts polled by Thomson Reuters expected the company to report profit per share of $7.74, for the quarter. Analysts' estimates typically exclude special items.

Operating revenues increased by 4.0% to $253.4 million from $243.6 million, prior year. Operating revenues of container vessels segment decreased by 4.2%, to $233.4 million. Danaos had an average of 68.0 container vessels and 7.0 Capesize drybulk vessels compared to 68.3 container vessels and no drybulk vessels, prior year.

Danaos has declared a dividend of $0.80 per share of common stock for the first quarter of 2024, which is payable on June 20, 2024 to stockholders of record as of June 11, 2024.

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