Dynagas LNG Partners Q1 EPS $0.28, Adjusted EBITDA $27.1 mln.

• Dynagas LNG Partners reports Q1 2025 results • Net income: $13.6 million, earnings per common unit: $0.28 • Adjusted net income: $14.3 million, adjusted earnings per common unit: $0.30 • Adjusted EBITDA: $27.1 million • 100% fleet utilization • Declared cash distributions on Series A and B Preferred Units • Declared quarterly cash distribution on common units • Paid on February 27, 2025.

Dynagas LNG Partners LP (NYSE: DLNG) has reported robust financial results for the first quarter of 2025, demonstrating resilience in the face of ongoing market challenges. The company reported net income of $13.6 million, with earnings per common unit at $0.28. Adjusted net income was $14.3 million, and adjusted earnings per common unit were $0.30. Adjusted EBITDA for the period was $27.1 million.

The company maintained 100% fleet utilization, with all six LNG carriers employed under long-term contracts averaging 5.7 years remaining duration. The estimated contract backlog stands at $0.9 billion, providing substantial revenue visibility and stability for the quarterly distributions. The company declared a quarterly cash distribution of $0.049 per common unit, paid on February 27, 2025.

Dynagas LNG Partners also announced the full redemption of its $55 million Series B Preferred Units, expected to generate annual cash savings of $5.7 million. This redemption, funded from their $70 million cash balance, represents significant progress in optimizing their capital structure. The company repurchased 216,185 common units for $0.8 million under its $10 million repurchase program.

The company's balance sheet shows strong liquidity, with $70 million in cash and no debt maturities until 2029. Following their June 2024 debt refinancing, two vessels are now debt-free, and annual debt amortization of $44 million represents 14% of total outstanding debt of $312 million.

Despite the ongoing Russian sanctions developments, Dynagas LNG Partners reports stable operations. The company's contract-based business model continues to shield it from the prevailing weakness in the short-term LNG shipping market.

References:
[1] https://www.stocktitan.net/news/DLNG/dynagas-lng-partners-lp-reports-results-for-the-three-months-ended-oqj9xgxauv53.html