Global Ship Lease Reports Results for the Fourth Quarter of 2024

About this update from Green Scientific Labs Holdings Inc Class A

[{"type":"text","content":"Global Ship Lease Reports Results for the Fourth Quarter of 2024\n\n\n\n Forward contract cover locked in for 89% of 2025 days and 66% of 2026 days\n \n\n Annualized Dividend to increase to $2.10 per Class A Common Share\n \n\n ATHENS, Greece, March 05, 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 and year ended December 31, 2024.\n \n\n\n Full Year and Fourth Quarter of 2024 Highlights and Other Recent Developments\n \n\n\n - 4Q 2024 operating revenue of $182.4 million; full year operating revenue of $711.1 million, up 5.4% on 2023.\n \n\n - 4Q 2024 net income available to common shareholders of $90.2 million, or $2.54 Earnings per Share (EPS); full year 2024 net income of $344.1 million, or $9.74 EPS, up 16.6% on net income of 2023.\n \n\n - 4Q 2024 normalized net income\n \n 3\n \n of $90.4 million, or $2.55 normalized EPS³; full year 2024 normalized net income of $352.7 million, or $9.99 normalized EPS³, up 10.3% on normalized net income of 2023.\n \n\n - 4Q 2024 Adjusted EBITDA\n \n 3\n \n of $123.7 million; full year 2024 Adjusted EBITDA of $494.7 million, up 7.1% on 2023.\n \n\n - Purchased four high-reefer, ECO-9,000 TEU containerships (the “Newly Acquired Vessels”), with charters attached, for an aggregate price of $274 million, and agreed 10-year financing priced at SOFR + 2.50%. Three of these vessels were delivered to us in December 2024 and the fourth in January 2025.\n \n\n - Sold three older ships, consistent with our fleet renewal strategy. Tasman (5,900 TEU, built 2000), Akiteta (2,200 TEU, built 2002), and Keta (2,200 TEU, built 2003) are contracted for sale for an aggregate price of $54.5 million (compared to an aggregate book value at December 31, 2024 of $24.9 million). The sale of Tasman was agreed in December 2024, while those of Keta and Akiteta were agreed in February 2025. Akiteta was delivered to her new owners on February 19\n \n th\n \n , 2025 and the remaining two ships are scheduled for delivery to their new owners in first half 2025.\n \n\n - Added $884.8 million of contracted revenues during 2024 and the first two months of 2025, bringing contracted revenues as of December 31, 2024 to...

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