Want to see DAC full AI Analyst Report?
EarningsQ2 2026 Earnings Report
DAC Q2 2026 EPS Results
Actual EPS$7.29
Consensus EPS$6.79
Beat/MissBeat by +$0.50
One Year Ago EPS$6.36
DAC Q2 2026 Revenue Results
Actual Revenue$274.37M
Expected Revenue$258.27M
Beat/MissBeat by +$16.10M
YoY Revenue Growth+4.66%
Earnings Announcement Details
QuarterQ2 2026
Date08/03/2026
TimeAfter Close
Conference CallMonday, August 3, 2026
DAC Upcoming Earnings
Danaos's next earnings date is estimated for November 9, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DAC Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveys a broadly positive operational and financial picture driven by strong Dry Bulk performance, record contracted backlog, robust liquidity and very low net leverage. Key financials improved: adjusted net income (+~15% per share), adjusted EBITDA (+6.1%), Dry Bulk revenue (+57%) and higher Capesize TCE rates. Management has also made meaningful financing progress to support newbuilds. Offsetting items include flat container revenue, a notable increase in G&A (~33%), higher average indebtedness, certain noncash GAAP adjustments and continued market/geopolitical volatility. Management's cautious stance (paused buyback, disciplined approach to new investments) reflects prudent risk management amid elevated market uncertainty.Company Guidance
Adjusted Net Income Growth
Adjusted net income of $133.1 million, or $7.29 per share, vs $117.0 million or $6.36 per share a year ago — an increase of $16.1 million and approximately 15% on a per-share basis.
Adjusted EBITDA Expansion
Adjusted EBITDA rose 6.1% year-over-year to $186.8 million from $176.0 million, an increase of $10.8 million.
Dry Bulk Segment Surge
Dry Bulk revenue increased 57% to $35.7 million from $22.7 million (up $13.0 million). Capesize time charter equivalent (TCE) rose to $30,400/day from ~ $18,000/day (≈69% increase). Dry Bulk segment adjusted EBITDA grew to $18.8 million from $5.9 million a year ago.
Record Contracted Revenue Backlog and Strong Coverage
Added approximately $683 million to contracted revenue backlog this quarter; backlog now stands at a record $4.6 billion with average charter duration of 4.7 years. Contract coverage: 100% for 2026, 93% for 2027, 79% for 2028 and 61% for 2029.
Strong Liquidity and Low Net Leverage
Cash balance of $1.0 billion and total liquidity of approximately $1.5 billion (including undrawn RCF and marketable securities). Net debt was $224.5 million, equivalent to a net leverage ratio of 0.3x LTM EBITDA. 78 of 87 operating vessels carry no debt (66 unencumbered; 12 secure the RCF).
Progress on Financing & Newbuilding Funding
Refinanced two vessels with Japanese operating leases; secured $236 million in JOLCO financing commitments for three vessels delivering in 2027 and a $132 million credit facility to finance six 1,800 TEU newbuildings, supporting a fully financed construction program.
Operating Cost Efficiency
Vessel operating expenses were essentially stable at $56.7 million vs $56.4 million a year ago despite a larger fleet. Daily operating cost decreased to $7,416 per vessel per day from $7,556 (≈1.9% decline).
Improved Net Interest Position
Interest income doubled to $7.4 million from $3.7 million due to higher cash balances; interest expense (ex amortization/discount) decreased to $7.3 million from $8.9 million. Net interest expense decreased by $5.3 million year-over-year.
DAC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed