Seaspan (SSW) Tops Q4 EPS by 5c

Seaspan Reports Financial Results for the Quarter and Year Ended December 31, 2015

March 7, 2016 7:49 PM EST

HONG KONG, CHINA -- (Marketwired) -- 03/07/16 -- Seaspan Corporation ("Seaspan") (NYSE: SSW) announced today its financial results for the quarter and year ended December 31, 2015. Below is a summary of Seaspan's key financial results:

Summary of Key Financial Results (in thousands of US dollars):

Quarter Ended December 31, Change -------------------------- ------------------------- 2015 2014 $ % -------------------------- ------------------------- Revenue $ 218,464 $ 189,444 $ 29,020 15.3% Reported net earnings $ 76,212 $ 27,774 $ 48,438 174.4% Normalized net earnings(1) $ 48,937 $ 40,132 $ 8,805 21.9% Earnings per share, basic and diluted $ 0.63 $ 0.14 $ 0.49 350.0% Normalized earnings per share(1) $ 0.35 $ 0.27 $ 0.08 29.6% Cash available for distribution to common shareholders(2) $ 115,772 $ 116,469 $ (697) (0.6)% Adjusted EBITDA(3) $ 181,143 $ 178,816 $ 2,327 1.3% Year Ended December 31, Change -------------------------- ------------------------ 2015 2014 $ % -------------------------- ------------------------ Revenue $ 819,024 $ 717,170 $ 101,854 14.2% Reported net earnings $ 199,391 $ 131,247 $ 68,144 51.9% Normalized net earnings(1) $ 165,820 $ 139,083 $ 26,737 19.2% Earnings per share, basic $ 1.46 $ 0.80 $ 0.66 82.5% Earnings per share, diluted... More