Global Ship Lease, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 04:15 pm EST
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Global Ship Lease, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 174.53 million compared to USD 172.54 million a year ago. Net income was USD 85.07 million compared to USD 92 million a year ago. Basic earnings per share USD 2.34 compared to USD 2.44 a year ago.
For the nine months, revenue was USD 495.9 million compared to USD 480.62 million a year ago. Net income was USD 237.45 million compared to USD 217.92 million a year ago. Basic earnings per share from continuing operations was USD 6.49 compared to USD 5.75 a year ago. Diluted earnings per share from continuing operations was USD 6.38 compared to USD 5.65 a year ago.
Global Ship Lease, Inc. is a United Kingdom-based containership owner, leasing ships to container shipping companies under industry-standard, fixed-rate time charters. The Company focuses on mid-size Post-Panamax and smaller containerships. As a containership owner, its business is both procyclical with chartered tonnage and counter-cyclical with sale and lease-back structures. The Company owns 68 containerships, ranging from 2,207 to 11,040 TEU, with a combined capacity of 375,406 TEU. 36 ships are wide beam Post-Panamax. The mix of ship sizes within its fleet provides flexibility to deploy its vessels on a range of trading routes. Its portfolio of vessels includes CMA CGM Thalassa, ZIM Norfolk, Anthea Y, ZIM Xiamen, MSC Tianjin, MSC Qingdao, GSL Ningbo, GSL Alexandra, GSL Effie, GSL Lydia, GSL Sofia, GSL Kalliopi, GSL Grania, GSL Eleni, Mary, Kristina, Katherine, Alexandra, Alexis, Olivia I, CMA CGM Berlioz, Agios Dimitrios, and GSL Christel Elisabeth, among others.
GLOBAL SHIP LEASE, INC. 
