KNOT Offshore Partners LP ( (KNOP) ) has released its Q2 earnings. Here is a breakdown of the information KNOT Offshore Partners LP presented to its investors.
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KNOT Offshore Partners LP is a publicly traded master limited partnership that owns, operates, and acquires shuttle tankers primarily under long-term charters in the offshore oil production regions of Brazil and the North Sea.
In its latest earnings report for the second quarter of 2025, KNOT Offshore Partners LP reported total revenues of $87.1 million, operating income of $22.2 million, and a net income of $6.8 million. The company also declared a quarterly cash distribution of $0.026 per common unit and reported $104.8 million in available liquidity.
Key highlights from the quarter include a fleet utilization rate of nearly 97% when accounting for scheduled drydockings, the acquisition of the DP2 shuttle tanker Daqing Knutsen, and the establishment of a $10 million buyback program for common units. The company also secured charter extensions and new agreements, enhancing its charter coverage for the upcoming years.
Looking ahead, KNOT Offshore Partners LP remains optimistic about the growth of the shuttle tanker market, particularly in Brazil and the North Sea, driven by new production start-ups and a tightening market. The company aims to strengthen its fleetwide charter coverage and seize opportunities for re-chartering vessels in the current market environment.
With a focus on generating stable cash flows and executing strategic acquisitions, KNOT Offshore Partners LP is well-positioned to benefit from the improving charter market, aiming to enhance unitholder value in the coming quarters and years.