Danaos (DAC) To Report Q3 Earnings: What's In The Offing?
Zacks Investment Research | Oct 31, 2019 11:03PM ET
Danaos Corporation (NYSE:DAC) is scheduled to release third-quarter 2019 results on Nov 4, after market close.
The Zacks Consensus Estimate for third-quarter earnings has been stable at $2.14 in the past 90 days. Given this backdrop, let’s delve into the factors that might have influenced the company’s performance in the September quarter.
As was the case in the first two quarters, fleet utilization is expected to have been high in the third quarter as well. The company's third-quarter results might reflect this uptrend. However, operating revenues in the September quarter are likely to have been dented due to the re-chartering of some of its vessels that concluded long-term charters (in the last twelve months) and were subsequently re-deployed at lower spot rates.
Moreover, the company might have incurred high vessel operating expenses in the quarter due to factors like high repair and maintenance costs. Also, increased professional fees are expected to have induced elevated general & administrative costs in the third quarter. Consequently, the bottom line is expected to reflect the impact of these increased costs in the to-be-reported results.
Danaos Corporation Price and EPS Surprise
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