Quarterly ResultMay 29, 2026, 04:49 PM
Dynagas LNG Partners Q1 Net Income $17.4M; EPS $0.43
AI Summary
Dynagas LNG Partners LP reported Q1 2026 net income of $17.4 million, or $0.43 per common unit, an increase of 27.9% year-over-year, supported by 95.1% fleet utilization and $24.3 million in Adjusted EBITDA. The company declared a quarterly cash distribution of $0.050 per common unit. Operationally, the "Clean Energy" vessel commenced a new, higher-rate time charter with Rio Grande LNG in April 2026. However, new EU and UK sanctions on Russian LNG, effective January 1, 2027, pose a significant risk to the Partnership's Yamal Charters, which accounted for 36% of 2025 revenues, potentially leading to disputes or early termination.
Key Highlights
- Net Income for Q1 2026 was $17.4 million ($0.43 EPS), up 27.9% YoY.
- Adjusted EBITDA for Q1 2026 was $24.3 million, a 10.3% decrease YoY.
- Voyage revenues for Q1 2026 increased 2.0% to $39.9 million.
- Declared a quarterly cash distribution of $0.050 per common unit for Q1 2026.
- Fleet utilization for Q1 2026 was 95.1%, down from 100.0% in Q1 2025.
- The vessel "Clean Energy" commenced a new, higher-rate time charter with Rio Grande LNG in April 2026.
- Estimated contracted revenue backlog is $0.78 billion with an average remaining contract term of 4.7 years.
- New EU and UK sanctions on Russian LNG pose risks to Yamal Charters (36% of 2025 revenues) from Jan 1, 2027.
Price Impact
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