Yahoo Finance Danaos Second Quarter 2024 Earnings: Beats Expectations
Danaos (NYSE:DAC) Second Quarter 2024 Results
Key Financial Results
Revenue: US$246.3m (up 2.0% from 2Q 2023).
Net income: US$141.2m (down 4.0% from 2Q 2023).
Profit margin: 57% (down from 61% in 2Q 2023). The decrease in margin was driven by higher expenses.
EPS: US$7.30 (down from US$7.32 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Danaos Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) also surpassed analyst estimates by 2.7%.
Looking ahead, revenue is forecast to decline by 8.4% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat.
Performance of the American Shipping industry.
The company's shares are down 4.5% from a week ago.
Risk Analysis
You should learn about the 2 warning signs we've spotted with Danaos (including 1 which doesn't sit too well with us).
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