Danaos
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Danaos (DAC) investor relations material

Danaos Q2 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2026 earnings summary4 Aug, 2026

Executive summary

  • Achieved strong financial performance in Q2 2026, with operating revenues rising to $274.4M, driven by robust dry bulk market and stable container revenues.

  • Adjusted net income for Q2 2026 was $133.1M ($7.29/share), up year-over-year, with diluted EPS at $8.32.

  • Extended charter coverage and secured a record $4.6B contracted revenue backlog, ensuring high revenue visibility for coming years.

  • Successfully navigated geopolitical disruptions, maintaining full operational status and safety for vessels and crews.

  • Strategic investments in LNG, equity stakes in Yoda PLC and Star Bulk Carriers, and ongoing fleet renewal with newbuilds.

Financial highlights

  • Q2 2026 operating revenues: $274.4M (up from $262.2M in Q2 2025); H1 2026: $528.1M (up from $515.5M year-over-year).

  • Adjusted EBITDA for Q2 2026 was $186.8M (up 6.1% YoY); H1 2026: $367.4M (up 5.7%).

  • Free cash flow for the last twelve months reached $684.7M.

  • Cash and cash equivalents at June 30, 2026: $1.01B; total liquidity: $1.5B.

  • Net debt at June 30, 2026: $224.5M; net debt/LTM adjusted EBITDA: 0.3x.

Outlook and guidance

  • Contracted revenue backlog reached $4.6B, with 100% container operating days covered for 2026, 93% for 2027, 79% for 2028, and 61% for 2029.

  • Management remains cautious on new investments due to elevated asset prices and market volatility, prioritizing balance sheet strength.

  • Market expects a rebound in world container trade in 2027 after modest 1.7% growth in 2026.

  • Charter rates remain above historical averages, supported by strong demand and manageable orderbook.

  • Dividend policy remains steady, with future increases subject to board decision.

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Frequently asked questions

Danaos Corporation owns and operates a fleet of containerships that are chartered to global liner companies under long-term contracts. The company provides marine transportation services supporting international trade. It focuses on fleet efficiency and long-term customer relationships. The company is headquartered in Athens, Greece, and its shares are listed on the NYSE.