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Dynagas LNG Partners LP Reports Strong Q1 Earnings and Outlines Strategic Initiatives.
ByAinvest
Saturday, May 31, 2025 8:16 pm ET1min read
Dynagas LNG Partners LP reported Q1 earnings with revenues at $39.1 million, a net income of $13.6 million, and adjusted EBITDA of $27.1 million. The company has a 100% fleet utilization rate and a contract backlog of $0.9 billion. DLNG distributed $0.049 per common unit and repurchased 271,303 common units. The company plans to redeem $55 million Series B Preferred Units by July 25, 2025, anticipating annual savings of around $5.7 million.
Dynagas LNG Partners LP (NYSE: DLNG) reported robust financial performance for the first quarter of 2025, with revenues reaching $39.1 million, a net income of $13.6 million, and adjusted EBITDA of $27.1 million. The company maintained a 100% fleet utilization rate, with all six LNG carriers employed under long-term contracts averaging 5.7 years in duration. The estimated contract backlog stands at $0.9 billion, providing substantial revenue visibility [1].DLNG distributed $0.049 per common unit and repurchased 271,303 common units as part of its $10 million repurchase program. The company plans to fully redeem $55 million Series B Preferred Units by July 25, 2025, anticipating annual savings of around $5.7 million [1].
The balance sheet shows strong liquidity, with $70 million in cash and no debt maturities until 2029. The company's financial strategy focuses on deleveraging and enhancing unitholder value. Following a successful debt refinancing in June 2024, two vessels are now debt-free, and annual debt amortization of $44 million represents 14% of total outstanding debt of $312 million [1].
Despite ongoing Russian sanctions developments, DLNG reported stable operations and maintained a disciplined capital allocation strategy. The company's long-term contract coverage and decreasing financing costs position it well despite current market headwinds in the LNG shipping sector [1].
References:
[1] https://www.stocktitan.net/news/DLNG/dynagas-lng-partners-lp-reports-results-for-the-three-months-ended-oqj9xgxauv53.html
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