Danaos Corporation Reports Third Quarter and Nine Months Results for the Period Ended September 30, 2016
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Danaos Corporation (DAC) Misses Q3 EPS by 26c
December 15, 2016 4:34 PM ESTDanaos Corporation (NYSE: DAC) reported Q3 EPS of $0.21, $0.26 worse than the analyst estimate of $0.47. Revenue for the quarter came in at $111.8 million versus the consensus estimate of $130 million.
Danaos' CEO Dr. John Coustas commented: "We report our results for the third quarter of 2016 in the aftermath of the bankruptcy of Hanjin Shipping, one of Danaos' large customers. As a result of the bankruptcy, we did not recognize any operating revenues for the vessels that had been chartered to Hanjin during the quarter. This reduced our operating revenues by $24.8 million and was the main... More
