Danaos Corporation (NYSE: DAC) reported Q2 EPS of $0.26, $0.03 better than the analyst estimate of $0.23. Revenue for the quarter came in at $113.9 million versus the consensus estimate of $108 million.

Highlights for the Second Quarter and Half Year Ended June 30, 2017:

• Adjusted net income1 of $29.0 million, or $0.26 per share, for the three months ended June 30, 2017 compared to $47.7 million, or $0.43 per share, for the three months ended June 30, 2016, a decrease of 39.1%. Adjusted net income1 of $53.6 million, or $0.49 per share, for the six months ended June 30, 2017 compared to $94.9 million, or $0.86 per share, for the six months ended June 30, 2016, a decrease of 43.6%.
• Operating revenues of $113.9 million for the three months ended June 30, 2017 compared to $137.0 million for the three months ended June 30, 2016, a decrease of 16.9%. Operating revenues of $224.0 million for the six months ended June 30, 2017 compared to $274.5 million for the six months ended June 30, 2016, a decrease of 18.4%.
• Adjusted EBITDA1 of $78.1 million for the three months ended June 30, 2017 compared to $99.9 million for the three months ended June 30, 2016, a decrease of 21.8%. Adjusted EBITDA1 of $150.6 million for the six months ended June 30, 2017 compared to $199.2 million for the six months ended June 30, 2016, a decrease of 24.4%.
• Total contracted operating revenues were $1.9 billion as of June 30, 2017, with charters extending through 2028 and remaining average contracted charter duration of 6.2 years, weighted by aggregate contracted charter hire.
• Charter coverage of 87% for the next 12 months based on current operating revenues and 66% in terms of contracted operating days.

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