Global Ship Lease Reports Results for the First Quarter of 2025

About this update from Green Scientific Labs Holdings Inc Class A

[{"type":"text","content":"Global Ship Lease Reports Results for the First Quarter of 2025\n\n\n\n Forward contract cover locked in for 93% of 2025 days and 75% of 2026 days\n \n\n Annualized dividend increased to $2.10 per Class A Common Share\n \n\n ATHENS, Greece, May 19, 2025 (GLOBE NEWSWIRE) -- Global Ship Lease, Inc. (NYSE: GSL) (the “Company”, “Global Ship Lease” or “GSL”), an owner of containerships, announced today its unaudited results for the three months ended March 31, 2025.\n \n\n\n First Quarter of 2025 Highlights and Other Recent Developments\n \n\n\n\n 1Q 2025 operating revenue of $191.0 million; up 6.3% on 1Q 2024.\n \n\n 1Q 2025 net income available to common shareholders of $121.0 million, or $3.40 Earnings per Share (EPS); up 35.2% on 1Q 2024.\n \n\n 1Q 2025 normalized net income\n \n 3\n \n of $94.3 million, or $2.65 normalized EPS³ up 5.8% on 1Q 2024.\n \n\n 1Q 2025 Adjusted EBITDA\n \n 3\n \n of $132.3 million; up 5.5% on 1Q 2024.\n \n\n Added $352 million of contracted revenues during 1Q 2025, bringing total contracted revenues as of March 31, 2025 to $1.87 billion, over a weighted average remaining duration of 2.3 years.\n \n\n Completed the sales of Tasman (5,900 TEU, built 2000), Akiteta (2,200 TEU, built 2002), and Keta (2,200 TEU, built 2003) for an aggregate gain of $28.5 million; the vessels were delivered to their new owners in 1Q 2025.\n \n\n Took delivery, in January 2025, of Czech, the fourth in a series of four high-reefer, ECO-9,000 TEU containerships contracted for purchase with charters attached in 4Q 2024 (“the Newly Acquired Vessels”).\n \n\n Agreed, in March 2025, to an $85.0 million Credit Facility with UBS to fully prepay certain of our outstanding credit facilities which would otherwise have matured between May 2026 and July 2026. The new loan is priced at SOFR + 2.15%, matures in the second quarter of 2028, and brings the weighted average cost of our debt to 3.99% and weighted average maturity of debt to 5.1 years.\n \n\n Declared a dividend of $0.525 per Class A common share for the first quarter of 2025, to be paid on or about June 3, 2025 to common shareholders of record as of May 23, 2025. Paid a dividend of $0.45 per Class A common share for the fourth quarter of 2024 on March 6, 2025.\n \n\n Approximately $33.0 million of capacity remains avai...

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