Danaos Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 08, 2022 at 03:00 am IST
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Danaos Corporation reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 260.04 million compared to USD 195.92 million a year ago. Net income was USD 66.8 million compared to USD 217.23 million a year ago. Basic earnings per share from continuing operations was USD 3.29 compared to USD 10.67 a year ago. Diluted earnings per share from continuing operations was USD 3.29 compared to USD 10.55 a year ago.
For the nine months, sales was USD 740.86 million compared to USD 474.47 million a year ago. Net income was USD 406.49 million compared to USD 886.84 million a year ago. Basic earnings per share from continuing operations was USD 19.77 compared to USD 43.61 a year ago. Diluted earnings per share from continuing operations was USD 19.75 compared to USD 43.11 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 
