Global Ship Lease (GSL) Reports Q2 EPS of $0.08 on Revenues of $35M

Global Ship Lease (NYSE: GSL) reported Q2 EPS of $0.08. Revenue for the quarter came in at $35 million, versus $0 reported last year.

Ian Webber, Chief Executive Officer of Global Ship Lease, stated, “Our fully contracted fleet of mid-sized and smaller containerships generated consistent cashflows from top-tier counterparties throughout the quarter. Our existing fleet of 18 vessels continued to operate in a highly stable and predictable manner. Further, we took delivery of our nineteenth ship, the GSL Valerie, on June 18, 2018, with pre-agreed charter employment with CMA CGM commencing on July 1. Global Ship Lease is in a strong position to continue benefitting from our substantial contracted revenues, established relationships with industry leaders, and ability to capitalize on attractive growth opportunities.”

Mr. Webber added, “Despite concerns around global trade tensions, the charter rates and asset values for the mid-sized and smaller containership segments - which remain the focus of GSL’s fleet - have continued to strengthen significantly in 2018 on the back of positive supply/demand fundamentals. We maintain our long-expressed thesis that these fleet segments hold the best upside prospects and continue to explore opportunities to grow our fleet on an accretive, highly disciplined basis for the benefit of our shareholders.”

For earnings history and earnings-related data on Global Ship Lease (GSL) click here.

You May Also Be Interested In

• 'Ocean of opportunity': Wolfe initiates SpaceX at Buy ahead of historic IPO
• Academy Sports and Outdoor (ASO) Misses Q1 EPS by 1c ; Offers Guidance
• RH (RH) Tops Q1 EPS by 12c