Danaos Corporation Stock Price, News & Analysis

Danaos Corporation (NYSE: DAC) has filed its Annual Report on Form 20-F for the fiscal year ending December 31, 2022, with the Securities and Exchange Commission. The report can be accessed on the company's website. Danaos is noted for being one of the largest independent owners of containerships, managing a fleet of 68 vessels with a total capacity of 421,293 TEUs, plus 6 new ships under construction. The company's charter agreements are largely fixed-rate with major liner companies, emphasizing its strong operational standards and environmental controls.

Danaos Corporation (NYSE: DAC) reported robust financial results for Q4 and the year ended December 31, 2022, showcasing a significant increase in adjusted net income of $141.6 million ($6.99 per share) for Q4, up 12.6% YoY, and $711 million ($34.68 per share) for the year, up 96.2% YoY. Operating revenues reached $252.5 million for Q4 and $993.3 million annually, marking increases of 17.4% and 44.1% respectively. The company has declared a quarterly dividend of $0.75 per share, payable March 14, 2023. Despite a strong performance, CEO Dr. John Coustas warned of declining container market conditions ahead, with challenges anticipated in 2023.

Danaos Corporation (NYSE: DAC) will announce its fourth-quarter results for the period ending December 31, 2022, after market close on February 14, 2023. A conference call discussing these results is scheduled for February 15, 2023, at 9:00 A.M. ET. Participants can join by dialing specific numbers or listening via a live audio webcast on the company's website. Danaos operates one of the largest fleets of containerships, with a total of 68 vessels and an additional 6 under construction, providing fixed-rate charters to major liner companies worldwide.

Danaos Corporation (NYSE: DAC) has announced plans to repurchase $37.234 million of its 8.500% unsecured senior notes due 2028 through a privately negotiated transaction. This move is expected to enhance shareholder value by reducing outstanding debt. Danaos is among the largest independent owners of containerships, operating a fleet of 69 vessels with a total capacity of 423,745 TEUs. The company remains committed to operational excellence and maintaining strong relationships with charterers.

Danaos Corporation (NYSE: DAC) reported strong financial results for the third quarter and nine months ended September 30, 2022. Adjusted net income surged 61.6% to $176.9 million, or $8.71 per share, compared to the previous year. For nine months, adjusted net income rose 140.8% to $569.3 million. Operating revenue increased by 32.7% for Q3 and 56.1% year-to-date, reaching $260 million and $740.9 million respectively. Cash on hand was $556.3 million, and the company declared a dividend of $0.75 per share. Effective refinancing agreements extend debt maturity until 2027, enhancing financial flexibility.

Danaos Corporation (NYSE: DAC) will announce its Q3 2022 results after market close on November 7, 2022. A conference call is scheduled for November 8 at 9:00 A.M. ET to discuss these results. Participants can join the call via provided international numbers. A telephonic replay will be available until November 15, 2022. Danaos operates a fleet of 71 containerships totaling 436,589 TEUs, with a strong chartering portfolio. This announcement highlights the company's ongoing operational standards and market position among leading containership charter owners.