LNG carrier Dynagas Q3 net income rises on lower costs
Dynagas LNG's Q3 net income rose 23.8% year-over-year due to lower interest costs and insurance claims. Adjusted net income declined due to lower cash revenues. The company redeemed Series B Preferred Units and repurchased common units. Dynagas LNG anticipates strong LNG transportation demand and is exploring growth in adjacent sectors while monitoring geopolitical impacts. Key financial metrics include $38.89 million in voyage revenues and $18.66 million in net income.
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Overview
- Dynagas LNG Q3 net income rises 23.8% yr/yr, driven by lower interest costs
- Company’s adjusted net income declines due to lower cash revenues
- Dynagas LNG redeems all Series B Preferred Units, repurchases common units
Outlook
- Dynagas LNG sees constructive outlook for LNG transportation demand due to new export projects
- Company may explore growth opportunities in adjacent shipping sectors
- Dynagas LNG monitors geopolitical impacts on operations amid Russian sanctions
Result Drivers
- INSURANCE CLAIMS - Increase in net income partly attributed to other income from insurance claims for damages incurred in prior years
- INTEREST COSTS - Decrease in net interest and finance costs due to reduced debt balance and lower interest rates
- LOWER CASH REVENUES - Adjusted net income decreased due to lower cash revenues, partially offset by reduced interest and administrative costs
Key Details
Metric Beat/Mis Actual Consensu
s s
Estimate
Q3 $38.89
Voyage mln
Revenues
Q3 $14.23
Adjusted mln
Net
Income
Q3 Net $18.66
Income mln
Q3 $27.60
Adjusted mln
EBITDA
Q3 $18.78
Operatin mln
g Income
Analyst Coverage
- The stock recently traded at 3 times the next 12-month earnings vs. a P/E of 3 three months ago
Press Release: For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact . (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.)
