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KNOT Offshore Partners (KNOP)
NYSE:KNOP
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Earnings Data
Report Date
Mar 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.04Last Year’s EPS
-$0.16Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Dec 04, 2024
|% Change Since: 5.97%
|Next Earnings Date:Mar 12, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted positive developments such as high utilization, successful charter extensions, and a strong market outlook, particularly in Brazil. However, these were offset by challenges including a net loss, increased operating expenses, and unresolved issues with Dan Sabia. The overall sentiment is cautiously optimistic but tempered by these challenges.Company Guidance
During the KNOT Offshore Partners Q3 2024 earnings call, Derek Lowe outlined several key financial and operational metrics. The partnership reported revenues of $76.3 million, an operating income of $17.2 million, and a net loss of $3.8 million. Adjusted EBITDA stood at $45.1 million, with available liquidity at $77 million, comprising $67 million in cash and cash equivalents, and $10 million in undrawn credit facilities. The company achieved a high utilization rate of 98.8%. Additionally, a cash distribution of USD 0.026 per common unit was declared. The contracted revenue position was strong, with $980 million on fixed contracts averaging 2.8 years in duration, and charter options averaging an additional 2.4 years. The company continues to focus on securing additional contract coverage, maintaining liquidity, and managing debt, which involves annual installment payments in the range of $90 million.High Utilization and Consistent Financial Performance
Achieved 98.8% utilization with consistent financial performance, including revenues of $76.3 million and adjusted EBITDA of $45.1 million.
Positive Market Outlook and Contracted Revenue
Strong contracted revenue position of $980 million with average contract duration of 2.8 years, indicating a positive market outlook and resilience.
Successful Charter Extensions and New Contracts
Secured charter extensions for multiple vessels including Tuva Knutsen and new charters for Ingrid Knutsen and Hilda Knutsen, reflecting strong market demand.
Growth through Fleet Expansion
Fleet growth achieved through the swap of Dansys for Tuva Knutsen, adding significant future charter revenue without new funding.
Strong Demand Dynamics in Brazilian Market
Robust demand growth projected in the Brazilian market, with new FPSOs requiring shuttle tanker services and five newbuild contracts for Knutsen MIK.
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KNOP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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KNOP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Dec 04, 2024 | $5.86 | $5.74 | -2.05% |
| Sep 03, 2024 | $7.63 | $6.94 | -9.04% |
| May 22, 2024 | $5.38 | $5.70 | +5.95% |
| Feb 26, 2024 | $5.91 | $5.82 | -1.52% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does KNOT Offshore Partners (KNOP) report earnings?
KNOT Offshore Partners (KNOP) is schdueled to report earning on Mar 12, 2025, TBA Not Confirmed.
What is KNOT Offshore Partners (KNOP) earnings time?
KNOT Offshore Partners (KNOP) earnings time is at Mar 12, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is KNOP EPS forecast?
KNOP EPS forecast for the fiscal quarter 2024 (Q4) is $0.04.
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