Dynagas LNG ( (DLNG) ) has released its Q4 earnings. Here is a breakdown of the information Dynagas LNG presented to its investors.
Dynagas LNG Partners LP is a master limited partnership that owns and operates liquefied natural gas (LNG) carriers, primarily engaged in long-term charters with international gas companies. The company operates within the energy transportation sector, with a fleet consisting of six LNG carriers.
In its latest earnings report, Dynagas LNG Partners LP announced a net income of $51.6 million for the year ending December 31, 2024, with an earnings per common unit of $1.05. The company achieved 100% fleet utilization and reported an adjusted EBITDA of $115 million.
Key financial highlights for the fourth quarter of 2024 include a net income of $14.1 million and adjusted EBITDA of $28.5 million. The company declared cash distributions on its preferred units and announced a repurchase program for its common units, with $10 million authorized for buybacks over the next year. The company also reported a significant reduction in interest and finance costs due to refinancing efforts.
Looking forward, Dynagas LNG Partners LP remains optimistic about its financial stability, with no debt maturities until 2029 and a contract backlog of approximately $1 billion. The management aims to maintain financial flexibility and enhance unitholder value, despite the uncertain geopolitical landscape.