Dynagas LNG ( (DLNG) ) has released its Q3 earnings. Here is a breakdown of the information Dynagas LNG presented to its investors.
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Dynagas LNG Partners LP is a master limited partnership that owns and operates liquefied natural gas (LNG) carriers employed on multi-year charters, with a current fleet consisting of six LNG carriers. In its latest earnings report for the third quarter of 2024, Dynagas LNG Partners LP reported a net income of $15.1 million, with earnings per common unit of $0.32, reflecting a significant increase compared to the previous year. The partnership achieved 100% fleet utilization and declared cash distributions on its preferred units. Among the key highlights, Dynagas LNG noted an increase in voyage revenues to $39.1 million, a decrease in vessel operating expenses, and an adjusted EBITDA of $28.9 million. The company also announced a $10 million repurchase program for common units, signaling a strategic move to allocate capital efficiently. Looking ahead, Dynagas LNG Partners is focused on maintaining its strong financial position with no vessel availability until 2028 and is strategically positioned for growth while navigating the uncertain geopolitical landscape.
