Quarterly ResultMay 29, 2026, 09:03 AM
Dynagas LNG Q1 Net Income $17.4M; Sanctions Threaten 36% Revenue
AI Summary
Dynagas LNG Partners LP reported Q1 2026 net income of $17.4 million ($0.43 EPS) and adjusted EBITDA of $24.3 million, with 95.1% fleet utilization. The company declared a quarterly cash distribution of $0.050 per common unit. A new time charter for the Clean Energy vessel with Rio Grande LNG, LLC commenced in April 2026 at a higher daily rate. However, new EU and UK sanctions on Russian-origin LNG, effective January 1, 2027, pose a material adverse risk to two long-term charters (Yenisei River and Lena River) with Yamal Trade Pte. Ltd., which accounted for 36% of 2025 revenues.
Key Highlights
- Net Income for Q1 2026 was $17.4 million, up 27.9% YoY.
- Earnings per common unit for Q1 2026 were $0.43, up from $0.28 YoY.
- Adjusted EBITDA for Q1 2026 was $24.3 million, down 10.3% YoY.
- Fleet utilization for Q1 2026 was 95.1%, down from 100% YoY.
- Declared a quarterly cash distribution of $0.050 per common unit.
- Clean Energy commenced new time charter with Rio Grande LNG in April 2026.
- New EU/UK sanctions threaten Yamal Charters, which accounted for 36% of 2025 revenues.
- Estimated contracted revenue backlog of $0.78 billion with 4.7 years average remaining term.
Price Impact
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