Danaos reports Q1 adjusted EPS $6.04 vs. $7.15 last year

Reports Q1 revenue $253.31M vs. $253.45M last year. Danaos (DAC)’ CEO Dr. John Coustas commented, “As the year progresses, the level of global disruption shows no signs of abating. Armed conflicts continue, mostly recently involving India and Pakistan, and the uncertainty of tariffs has led to a dramatic decline in the U.S. Pacific Market. Thus far, the U.S. economy remains resilient. As long as American consumers continue to spend, we anticipate that trade flows will rebound, with depleted inventories eventually driving a surge in demand. The dry bulk market has recovered from its first quarter lows, although the rebound has been modest. In our view, a meaningful and sustained recovery will be challenging absent further growth initiatives in China. While the much-publicized Simandu project is expected to benefit the capesize market by increasing ton-miles, overall iron ore consumption is not projected to rise significantly.”