Dynagas LNG's Q1 net income rises 28% on insurance gains
Dynagas LNG's Q1 net income rises 28% on insurance gains
Overview
Greece-based LNG carrier operator's Q1 voyage revenues rose 2% yr/yr
Q1 net income increased 28% yr/yr, driven by insurance claim income and lower interest costs
Adjusted net income and adjusted EBITDA declined due to fewer revenue earning days and lower charter rates
Outlook
Dynagas LNG says its fleet is fully contracted for 2026 and 2027, limiting spot market exposure
Company expects an estimated contracted revenue backlog of $0.78 bln with average contract term of 4.7 years
Dynagas LNG warns EU and UK sanctions may impact two Russian-linked charters after Jan. 1, 2027
Result Drivers
INSURANCE CLAIMS & LOWER INTEREST COSTS - Co said net income rose mainly due to income from insurance claims and a decrease in net interest and finance costs
FEWER REVENUE EARNING DAYS & LOWER CHARTER RATES - Adjusted net income and adjusted EBITDA fell, mainly due to fewer revenue earning days from unscheduled repairs and a lower time charter rate for the Arctic Aurora
HIGHER OPERATING EXPENSES OFFSET BY VARIABLE HIRE REVENUE - Vessel operating expenses increased due to engine overhauls and unscheduled repairs, but this was substantially offset by higher variable hire revenues under OPEX pass-through charters
Company press release: ID:nGNXbn0xwT
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Voyage Revenues |
| $39.94 mln |
|
Q1 Adjusted Net Income |
| $12.38 mln |
|
Q1 Net Income |
| $17.43 mln |
|
Q1 Adjusted EBITDA |
| $24.26 mln |
|
Q1 Operating Income |
| $16.51 mln |
|
Analyst Coverage
The stock recently traded at 3 times the next 12-month earnings vs. a P/E of 3 three months ago
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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