Global Ship Lease reports Q4 normalized EPS $2.55, consensus $2.31

Reports Q4 revenue $182.4M, consensus $170.71M. George Youroukos, our Executive Chairman, stated: “Demand for our well-specified, fuel-efficient vessels was very firm throughout 2024, and remains so today. We have taken advantage of these tailwinds to secure extended charter coverage across our fleet, adding $885 million of contracted revenues to our already-substantial backlog. In many cases, we have been able to secure attractive, multi-year coverage even for our oldest ships. Additionally, in December, our financial strength and industry position enabled us to move quickly to acquire four highly specified younger vessels, on charter to Hapag-Lloyd, further increasing our revenue backlog and lowering our average fleet age, with terms and financing that de-risked the transaction upfront. We are also rotating out three of our older ships, all of which are contracted to be sold on attractive terms. In a highly volatile and uncertain geopolitical environment, we benefit from the optionality and deployment flexibility represented by our fleet of mid-sized and smaller containerships. As we closely track developments around the world, we are confident that we are well-positioned now, and in the future, to sustain our track record of creating shareholder value through operational excellence, capital allocation discipline, and opportunistic acquisitions.”