Quarterly ResultMay 12, 2026, 09:06 AM
Danaos Q1 Net Income $140.4M, Adjusted EBITDA $180.6M
AI Summary
Danaos Corp. reported a significant increase in net income to $140.4 million for Q1 2026, up from $115.1 million in Q1 2025, with Adjusted EBITDA rising 5.2% to $180.6 million. Total operating revenues saw a slight increase, driven by strong drybulk performance offsetting a decrease in container vessel revenues. The company actively managed its debt, repaying $476.6 million while securing new financing for its extensive newbuilding program and continuing its share repurchase program and dividend payments. The report also highlighted ongoing geopolitical and tariff-related uncertainties.
Key Highlights
- Net income increased to $140.4 million in Q1 2026 from $115.1 million in Q1 2025.
- Adjusted EBITDA rose 5.2% to $180.6 million in Q1 2026 from $171.7 million in Q1 2025.
- Drybulk vessel operating revenues surged 40.9% to $24.1 million in Q1 2026.
- Repaid $262.8 million of 8.5% senior notes and $213.8 million of secured facilities.
- Secured up to $578.0 million in new JOLCO facilities for six container vessels.
- Declared a quarterly dividend of $0.90 per share of common stock.
- Repurchased 60,819 shares for $5.9 million in Q1 2026 under its $300 million program.
- Invested approximately $58.6 million in Yoda PLC and $12.5 million in Alaska LNG project.