Danaos Full Year 2023 Earnings: Revenues Disappoint
Danaos (NYSE:DAC) Full Year 2023 Results
Key Financial Results
Revenue: US$973.6m (down 2.0% from FY 2022).
Net income: US$576.3m (up 3.1% from FY 2022).
Profit margin: 59% (up from 56% in FY 2022). The increase in margin was driven by lower expenses.
EPS: US$28.99 (up from US$27.30 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Danaos Revenues Disappoint
Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) was mostly in line with analyst estimates.
Looking ahead, revenue is forecast to decline by 6.5% p.a. on average during the next 2 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 3.5% from a week ago.
Risk Analysis
What about risks? Every company has them, and we've spotted 2 warning signs for Danaos (of which 1 is significant!) you should know about.
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