Danaos Corporation Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 13, 2024 at 04:30 pm EST
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Danaos Corporation reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 249.32 million compared to USD 252.48 million a year ago. Net income was USD 149.92 million compared to USD 152.72 million a year ago. Basic earnings per share from continuing operations was USD 7.73 compared to USD 7.54 a year ago. Diluted earnings per share from continuing operations was USD 7.7 compared to USD 7.54 a year ago.
For the full year, sales was USD 973.58 million compared to USD 993.34 million a year ago. Net income was USD 576.3 million compared to USD 559.21 million a year ago. Basic earnings per share from continuing operations was USD 28.99 compared to USD 27.3 a year ago. Diluted earnings per share from continuing operations was USD 28.95 compared to USD 27.28 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 
