Danaos Corp (DAC) Misses Q2 EPS by 1c

Danaos Corp (NYSE: DAC) reported Q2 EPS of $0.11, $0.01 worse than the analyst estimate of $0.12. Revenue for the quarter came in at $136.4 million versus the consensus estimate of $134.6 million.

Other highlights:

• Adjusted EBITDA(1) of $99.0 million for the three months ended June 30, 2014 compared to $107.4 million for the three months ended June 30, 2013, a decrease of 7.8%. Adjusted EBITDA(1) of $195.4 million for the six months ended June 30, 2014 compared to $216.0 million for the six months ended June 30, 2013, a decrease of 9.5%.The remaining average charter duration of our fleet was 8.5 years as of June 30, 2014 (weighted by aggregate contracted charter hire).
• Total contracted operating revenues were $4.0 billion as of June 30, 2014, through 2028.
• Charter coverage of 92% for the next 12 months in terms of contracted operating days and 98% in terms of operating revenues.

For earnings history and earnings-related data on Danaos Corp (DAC) click here.

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