The strong beat and record $4.6B backlog signal robust near-term cash flow and charter coverage. Monitor further drybulk rate developments and newbuilding deliveries through 2027-2029 for sustained earnings expansion.
Price Chart
Executive Summary
Danaos Corporation reported Q2 2026 earnings with adjusted diluted EPS of $7.29, beating consensus of $6.31 by 16%, and revenue of $274.4M beating $255.4M estimates by 7.4%. The beat was driven by strong container charter rates and a surge in drybulk earnings (adjusted EBITDA $18.8M vs $5.9M a year ago), while record contracted revenue backlog of $4.6B and ultra-low net leverage of 0.30x underscore the company's strength.
Key Financial Metrics
Key Facts
- Q2 2026 GAAP diluted EPS of $8.32 (up 16.9% YoY from $7.12); adjusted diluted EPS of $7.29 (consensus $6.31, beat of ~16%)
- Total operating revenues of $274.4M, up 4.7% YoY from $262.2M and above $255.4M consensus
- Drybulk segment adjusted EBITDA surged to $18.8M from $5.9M YoY, driven by Capesize rate improvement to $30,401/day
- Contracted revenue backlog reached a record $4.6B, with $683M added since prior earnings; 100% of container days booked for 2026
- Net debt / LTM Adj. EBITDA of 0.30x; 78 of 87 vessels debt-free; total liquidity of ~$1.5B
- Board declared a $0.90/share quarterly dividend, paid July 30, 2026
Financial Impact
EPS exceeded Street consensus by ~16% and revenue by ~7.4%; the strong operational performance reinforces a positive outlook on cash flow generation and backlog visibility.
Risk Factors
- Geopolitical disruptions (Red Sea, tariffs, Iran conflict) could impact shipping routes and charter rates
- Container vessel operating revenues decreased slightly YoY due to non-cash revenue recognition and off-hire days
- Drybulk utilization dropped to 91.2% H1 2026 from 96.1% due to scheduled off-hire, which may recur
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-prn-302841542 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 9, 2026 16d ago | 6-K | $168.39 $156.48 | ▼ −7.07% | ▼ −5.58% | $159.00 (−5.58%) |
Oct 1, 2026 25d ago | Press Release | $161.74 $170.22 | ▲ +5.24% | ▲ +3.94% | $159.00 (−1.69%) |
Aug 4, 2026 11w ago | 6-K | $138.72 $135.02 | ▼ −2.67% | ▼ −2.57% | $159.00 (+14.62%) |
Aug 3, 2026 11w ago | Press Release | $138.72 $135.02 | ▼ −2.67% | ▼ −2.57% | $159.00 (+14.62%) |
Jul 22, 2026 13w ago | Press Release | $137.44 | awaiting T+5 | — | $159.00 (+15.69%) |
May 12, 2026 23w ago | 6-K | $132.83 $132.08 | ▼ −0.56% | ▼ −0.64% | $159.00 (+19.70%) |
Mar 30, 2026 30w ago | Court Ruling | $109.79 $115.26 | ▲ +4.98% | ▲ +0.68% | $159.00 (+44.82%) |
US Market Status
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