Danaos Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 13, 2023 at 04:30 pm EST
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Danaos Corporation reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 239.22 million compared to USD 260.04 million a year ago. Net income was USD 133.16 million compared to USD 66.8 million a year ago. Basic earnings per share from continuing operations was USD 6.76 compared to USD 3.29 a year ago. Diluted earnings per share from continuing operations was USD 6.76 compared to USD 3.29 a year ago.
For the nine months, sales was USD 724.27 million compared to USD 740.86 million a year ago. Net income was USD 426.38 million compared to USD 406.49 million a year ago. Basic earnings per share from continuing operations was USD 21.28 compared to USD 19.77 a year ago. Diluted earnings per share from continuing operations was USD 21.28 compared to USD 19.75 a year ago.
Danaos Corporation is a holding company and an international owner of containerships, chartering its vessels to a range of liner companies. The Company's principal business is the acquisition and operation of vessels. The Company conducts its operations through the vessel owning companies, whose principal activity is the ownership and operation of containerships that are under the management of a related party of the company. The Company's manager is Danaos Shipping Company Limited (Danaos Shipping). The Company has a fleet of over 50 containerships aggregating approximately 329,590 twenty-foot equivalent units (TEUs). Its containership fleet includes approximately 53 containerships deployed on time charters and approximately two containerships deployed on bareboat charter. Gemini Shipholdings Corporation (Gemini), a company beneficially owned by the Company, owns approximately four additional containerships of over 24,000 TEU aggregate capacity.
DANAOS CORPORATION 
