NYSE$DAC
Danaos Corp · Q4 2024 earnings
Q4 2024 earnings · · After market close · Investor relations
Briefing
Danaos Corporation reported a decrease in net income and diluted EPS for Q4 2024 compared to Q4 2023, despite an increase in operating revenues.
Danaos Corporation's Q4 2024 results show a mixed performance with operating revenues increasing by 3.6% to $258.2 million, but net income decreasing to $90.4 million from $149.9 million in Q4 2023. Diluted EPS also fell to $4.70 from $7.70 in the prior year period. The decrease in net income was primarily due to increased operating expenses and a significant loss on marketable securities, partially offset by higher operating revenues.
- Operating revenues increased by 3.6% to $258.2 million in Q4 2024, driven by additions of dry bulk vessels to the fleet.
- Net income decreased significantly to $90.4 million in Q4 2024 from $149.9 million in Q4 2023, primarily due to a $35.6 million loss on marketable securities.
- Diluted earnings per share decreased to $4.70 in Q4 2024 from $7.70 in Q4 2023.
- Adjusted EBITDA increased by 9.9% to $189.7 million in Q4 2024, reflecting improved underlying operating performance despite the net income decline.
Headline financials
Revenue & EPS history
Danaos · Revenue · Quarterly
$258M
Revenue by segment
Danaos · $847B total across 3 segments · Q1 2026
- Electricity distribution and sales$847B—100.0%
- Container vessels$230M—0.0%
- Drybulk vessels$24.1M—0.0%
Forward guidance
Danaos Corporation anticipates continued market uncertainty but remains insulated by strong charter coverage and a robust balance sheet, allowing for strategic investments and shareholder returns.
Tailwinds
- Secured multi-year charter arrangements for 13 of 15 newbuilding vessels with an average duration of 5.1 years.
- Total contracted cash operating revenues stand at $3.4 billion, including newbuildings, providing income certainty.
- Contracted operating days charter coverage for the container vessel fleet is 97% for 2025 and 79% for 2026.
- Entered into a syndicated loan facility of up to $850 million to finance remaining newbuilding container vessels.
- Strong balance sheet supports increased dividends and share buyback program.
Headwinds
- Near-term predictions about shipping markets are inherently unreliable due to global economic conditions.
- Dry bulk market continues to suffer from malaise due to the slow pace of Chinese economic recovery.
- Delivery of new tonnage in the dry bulk sector, particularly in panamax and smaller segments, is expected to add to market weakness.
- Container charter market shows liners exhibiting more caution, especially for forward dates.
- Box rates are weakening, although still higher than pre-pandemic levels.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2024
+1.8%
Avg return
Earnings day
+3.1%
Avg return
5 days after
-1.6%
Avg return
30 days after
59%
38 / 64 earnings
Positive
+31.7%
Q2 2020
Best reaction
-13.8%
Q1 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.7% | -1.1% | -0.9% | |
| Q4 2025 | +1.9% | +4.9% | +5.8% | |
| Q3 2025 | +1.0% | -1.9% | -1.6% | |
| Q2 2025 | +0.8% | +2.5% | +1.7% | |
| Q4 2024 | +4.0% | +3.7% | -2.7% | |
| Q3 2024 | +6.1% | +5.7% | -2.7% | |
| Q2 2024 | -1.7% | -2.0% | -3.6% | |
| Q1 2024 | +1.0% | +6.8% | +2.2% | |
| Q4 2023 | -4.6% | -5.8% | -7.9% | |
| Q3 2023 | +6.4% | +7.7% | +6.8% | |
| Q2 2023 | +2.6% | +2.1% | -5.2% | |
| Q1 2023 | +9.0% | +9.0% | +15.3% | |
| Q4 2022 | -3.8% | +0.0% | -10.0% | |
| Q3 2022 | -3.1% | +1.6% | -14.7% | |
| Q2 2022 | +4.3% | +3.9% | -5.3% | |
| Q1 2022 | -1.1% | +2.3% | -10.9% | |
| Q4 2021 | +0.9% | +3.4% | -2.5% | |
| Q3 2021 | +6.8% | +4.4% | +2.1% | |
| Q2 2021 | +2.7% | +5.7% | +29.2% | |
| Q1 2021 | -13.8% | -11.3% | +3.2% | |
| Q4 2020 | +6.6% | +5.5% | +32.7% | |
| Q3 2020 | +5.2% | +32.6% | +57.8% | |
| Q2 2020 | +31.7% | +34.0% | +34.0% | |
| Q1 2020 | +8.4% | +8.4% | +11.0% | |
| Q4 2019 | +5.2% | +14.9% | -24.0% | |
| Q3 2019 | +15.3% | +5.3% | -36.9% | |
| Q2 2019 | -5.8% | -8.4% | -8.5% | |
| Q1 2019 | +0.7% | +26.4% | -4.1% | |
| Q4 2018 | +3.2% | +7.2% | +9.6% | |
| Q3 2018 | +5.7% | +2.8% | -18.9% | |
| Q2 2018 | +0.0% | -22.6% | -30.3% | |
| Q1 2018 | +0.0% | -15.4% | -31.2% | |
| Q4 2017 | +3.8% | +3.8% | -2.3% | |
| Q3 2017 | +6.7% | +0.0% | +0.0% | |
| Q2 2017 | +2.5% | -10.0% | -17.5% | |
| Q1 2017 | +12.0% | +4.0% | +32.0% | |
| Q4 2016 | -1.9% | -3.8% | -32.1% | |
| Q3 2016 | +0.0% | -5.2% | -8.6% | |
| Q2 2016 | +0.7% | +1.2% | -24.4% | |
| Q1 2016 | -3.7% | — | — | |
| Q4 2015 | +3.0% | — | — | |
| Q3 2015 | -1.8% | — | — | |
| Q2 2015 | +1.8% | — | — | |
| Q1 2015 | -1.2% | — | — | |
| Q4 2014 | -3.9% | — | — | |
| Q3 2014 | +12.1% | — | — | |
| Q2 2014 | -1.2% | — | — | |
| Q1 2014 | +3.4% | — | — | |
| Q4 2013 | +4.0% | — | — | |
| Q3 2013 | +6.7% | — | — | |
| Q2 2013 | -6.7% | — | — | |
| Q1 2013 | +6.3% | — | — | |
| Q4 2012 | +5.2% | — | — | |
| Q3 2012 | +2.3% | — | — | |
| Q2 2012 | -1.5% | — | — | |
| Q1 2012 | -3.8% | — | — | |
| Q4 2011 | +3.7% | — | — | |
| Q3 2011 | -11.1% | — | — | |
| Q2 2011 | -3.4% | — | — | |
| Q1 2011 | -9.5% | — | — | |
| Q4 2010 | -0.5% | — | — | |
| Q3 2010 | -1.7% | — | — | |
| Q2 2010 | -1.7% | — | — | |
| Q1 2009 | +2.8% | — | — |
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