Company Overview - Danaos Corporation is one of the largest independent owners of modern, large-size container vessels, with a fleet of 74 containerships aggregating 471,477 TEUs and 16 under construction container vessels aggregating 134,234 TEUs [5] - The company has recently expanded into the drybulk sector by acquiring 10 Capesize drybulk vessels aggregating 1,760,861 DWT [5] - Danaos' fleet is chartered to many of the world's largest liner companies on fixed-rate charters, reflecting a strong operational strategy [5] Upcoming Financial Results - Danaos Corporation will release its second-quarter results for the period ended June 30, 2025, after the market closes on August 4, 2025 [1] - A conference call to discuss the results is scheduled for August 5, 2025, at 9:00 A.M. ET [1] Conference Call Details - Participants can join the conference call by dialing in 10 minutes before the scheduled time using specific toll-free numbers for the U.S., U.K., and international calls [2] - A telephonic replay of the conference call will be available until August 12, 2025, with specific dial-in numbers provided [3] - An audio webcast of the conference call will be available on the Danaos Corporation website, with an archived version accessible within 48 hours post-call [4]

Company Overview - Danaos Corporation (NYSE: DAC) is a tonnage provider and non-operating owner of container ships and dry-bulk ships [1] - The company operates a fleet of 84 ships, which includes 471,500 TEUs of containerized capacity and 1,760,861 DWT (dry weight tons) of dry-bulk capacity [1] Leadership and Background - Benjamin Halliburton, the founder of Danaos, has a long history in investment management, having started his career at Merrill Lynch in 1986 [1] - Halliburton has been recognized for his investment acumen, being named "PSN Manager of the Decade" for All-Cap in the 2000s and for Dividend Value in the 2010s [1] - He earned an MBA with a focus on finance from Duke's Fuqua School of Business and holds the Chartered Financial Analyst designation [1] Investment Strategy - Halliburton's "Disciplined Growth Strategy" has historically outperformed the S&P 500 during the 1990s bull market [1] - He was noted as the youngest partner at his previous firm and received accolades from senior managing partners for his investment skills [1]

Group 1 - The author has written extensively about Danaos Corporation (NYSE: DAC), producing 11 articles between September 2021 and April of the previous year, with the first 10 being bullish due to attractive investment opportunities [1] - The author has a background in Banking and Finance, with over five years of experience as an equities analyst, focusing on growth and income stocks with high expected returns and solid margins of safety [1] - The investment service mentioned aims to provide a comprehensive platform for investment ideas across various asset classes, including a macro portfolio for less active investors and a single equity-focused portfolio for more active investors [1]

Business Highlights - Danaos has a charter backlog of $3.7 billion through 2033 with world leading liner companies[7] - The company has secured multi-year chartering agreements for all fifteen newbuilding vessels[7] - Strong operating days contract coverage of 99% for 2025 and 85% for 2026 limits downside risk and provides solid contracted income base[7] - Danaos met the IMO 2030 carbon intensity targets 11 years ahead of requirements in 2019 and continues to meet the target with a 51.4% reduction in CO2 emissions per ton miles for year 2024[7] - Net Debt / Adjusted EBITDA ratio of 0.42x as of March 31, 2025[7] - During April and May 2025, the company purchased 2,060,399 shares of common stock of '' SBLK'' in the open market for $27.8 million and currently owns 6,130,613 shares of common stock of "SBLK"[7] Financial Performance (Q1 2025) - Operating Revenues were $253.3 million for the three months ended March 31, 2025[9] - Adjusted EBITDA was $171.7 million for the three months ended March 31, 2025[9] - Adjusted Net Income was $113.4 million for the three months ended March 31, 2025[9] - Time Charter Equivalent was $36,565 per day for container vessels and $10,513 per day for dry bulk vessels for the three months ended March 31, 2025[9]

Core Insights - QuickLogic Corporation will exhibit at the 2025 Chips to Systems Conference (DAC) in San Francisco, showcasing its advanced eFPGA Hard IP and chiplet solutions [1][2]. Company Overview - QuickLogic is a fabless semiconductor company specializing in eFPGA Hard IP, discrete FPGAs, and endpoint AI solutions, targeting markets such as aerospace, defense, industrial, consumer, and edge computing [4]. Event Details - The DAC 2025 event will take place from June 23–25, 2025, at Booth 2222, Moscone West, 2nd Floor [3]. - Attendees can explore how QuickLogic's solutions can enhance design goals with flexibility and efficiency [3]. Product Offerings - QuickLogic's eFPGA Hard IP enables post-manufacturing flexibility, helping designers reduce time-to-market and costs while achieving performance, power, and area (PPA) goals [2]. - The company's chiplet solutions feature validated, interoperable blocks supported by Universal PHY™, facilitating faster and more efficient heterogeneous integration [2].

I first wrote about container ship operator Danaos Corporation (NYSE: DAC ) with a Buy rating in early 2024, and it's kept pace with the S&P500 on a total return basis since then. I felt it was too undervalued even with aIndividual investor and family office principal with over 20 years of investment experience. I favor fundamental analysis and look for individual issues and asset classes that are out of favor and represent a good risk/reward trade off. I often employ options strategies, covered calls on co ...

Company Overview - Danaos Corp. is a ship-owning company focused on maritime transport, with a portfolio of 74 container vessels and 10 dry bulk vessels, positioning it as a significant competitor in the industry [1] Investment Focus - The company is appealing to individual investors who seek value in companies linked to commodity production, particularly those with sustained free cash flows, low leverage, and sustainable debt levels [1] - There is a preference for analyzing companies in sectors that are often overlooked by the market, such as oil & gas, metals, and mining, especially in emerging markets [1] Shareholder Value - Danaos Corp. is noted for its solid pro-shareholder attitude, maintaining consistent buyback programs and dividend distributions over time, which enhances its attractiveness to investors [1]

Business Highlights - Danaos has a charter backlog of $3.7 billion through 2033 with world leading liner companies[7] - The company has secured multi-year chartering agreements for all fifteen newbuilding vessels[7] - Strong operating days contract coverage of 99% for 2025 and 85% for 2026 limits downside risk and provides solid contracted income base[7] - Danaos met the IMO 2030 carbon intensity targets 11 years ahead of requirements in 2019 and continues to meet the target with a 51.4% reduction in CO2 emissions per ton miles for year 2024[7] - Net Debt / Adjusted EBITDA ratio of 0.42x as of March 31, 2025[7] - During April and May 2025, the company purchased 2,060,399 shares of common stock of '' SBLK'' in the open market for $27.8 million and currently owns 6,130,613 shares of common stock of "SBLK"[7] Financial Performance (Q1 2025) - Operating Revenues were $253.3 million for the three months ended March 31, 2025[9] - Adjusted EBITDA was $171.7 million for the three months ended March 31, 2025[9] - Adjusted Net Income was $113.4 million for the three months ended March 31, 2025[9] - Time Charter Equivalent was $36,565 per day for container vessels and $10,513 per day for dry bulk vessels for the three months ended March 31, 2025[9]

EXHIBIT 99.1 Three months ended March 31, 2025 compared to three months ended March 31, 2024 During the three months ended March 31, 2025, Danaos had an average of 73.7 container vessels and 10.0 Capesize drybulk vessels compared to 68.0 container vessels and 7.0 drybulk vessels during the three months ended March 31, 2024. Our container vessels utilization for the three months ended March 31, 2025 was 97.2% compared to 97.3% for the three months ended March 31, 2024. Our drybulk vessels utilization for the ...

Financial Data and Key Metrics Changes - The company reported adjusted EPS for Q1 2025 of $6.04 per share, down from $7.15 per share in Q1 2024, reflecting a decrease in adjusted net income from $140 million to $113.4 million [10] - Total operating costs increased by $19.8 million, primarily due to a rise in the average number of vessels in the fleet [10] - Adjusted EBITDA decreased by 3.1% or $5.5 million to $171.7 million compared to $177.2 million in Q1 2024 [13] Business Line Data and Key Metrics Changes - The drybulk segment experienced a revenue decrease of $9.0 million due to a softer spot market in Q1 [10] - The container segment saw a revenue decline of $9.4 million attributed to lower contracted charter rates [10] - Fleet utilization decreased, contributing to a $6.4 million drop in revenues [10] Market Data and Key Metrics Changes - The drybulk market has shown modest recovery from its Q1 lows, but a meaningful recovery is challenging without further growth initiatives in China [6] - The Pacific market has seen a dramatic decline due to tariff uncertainties and ongoing armed conflicts, particularly between India and Pakistan [5] Company Strategy and Development Direction - The company is focusing on optimizing the performance of its existing fleet and investing in energy-saving devices to enhance competitiveness [19] - A significant growth backlog includes 15 container vessels scheduled for delivery over the next three years, all backed by profitable charter arrangements [9] - The company is holding off on new vessel investments due to high costs and uncertainty regarding future fuel options [20] Management's Comments on Operating Environment and Future Outlook - Management noted that the U.S. economy remains resilient, with expectations of a rebound in trade flows as consumer spending continues [6] - The proposed IMO regulation on greenhouse gas emissions is seen as insufficient to drive meaningful progress in decarbonization [8] - The company remains committed to delivering superior returns to shareholders through disciplined execution and a long-term strategic focus [9] Other Important Information - The company declared a dividend of $0.85 per share for the quarter and has repurchased a total of $205.7 million in shares, with an additional $100 million authorized for buybacks [14] - As of Q1 2025, cash stood at $480 million, with total liquidity at $825 million, providing ample flexibility for capital deployment opportunities [14] Q&A Session Summary Question: Focus on cash generation or investment opportunities in the existing fleet? - Management confirmed that they are investing in energy-saving devices to enhance competitiveness while also generating significant cash [19] Question: Continuation of stock buybacks? - Management indicated that there is $100 million authorized for buybacks, but no specific targets or timelines were set [21] Question: Reason for increasing stake in Star Bulk? - The additional investment in Star Bulk was seen as a compelling opportunity, with no specific plans for further action at this time [22][24]