Dynagas LNG Partners LP Files 6-K for Year-End 2023 Results

TL;DR

DLNG filed year-end 2023 results, check the press release for deets.

AI Summary

Dynagas LNG Partners LP filed a Form 6-K on March 29, 2024, to report its results for the three months and year ended December 31, 2023. The filing incorporates by reference a press release dated March 28, 2024, detailing these financial outcomes. The company is based in Greece and operates in the water transportation sector.

Why It Matters

This filing provides investors with the latest financial performance data for Dynagas LNG Partners LP, crucial for understanding the company's operational health and future prospects in the LNG shipping market.

Risk Assessment

Risk Level: medium — Form 6-K filings often contain unaudited financial information and press releases, which may not provide the same level of detail or assurance as audited financial statements.

Key Players & Entities

• Dynagas LNG Partners LP (company) — Registrant
• March 28, 2024 (date) — Press Release Date
• December 31, 2023 (date) — Reporting Period End Date
• Greece (location) — Principal Executive Office Location

FAQ

Key Financial Figures

• $35.9 million — per common unit (basic and diluted) of $35.9 million and $0.66, respectively; Adjusted Net
• $0 — basic and diluted) of $35.9 million and $0.66, respectively; Adjusted Net Income
• $25.8 million — pectively; Adjusted Net Income (1) of $25.8 million and Adjusted Earnings per common unit (
• $0.39 — common unit (1) (basic and diluted) of $0.39; Adjusted EBITDA (1) of $94.4 million
• $94.4 million — ted) of $0.39; Adjusted EBITDA (1) of $94.4 million; and 97.8% fleet utilization (2) . F
• $10.5 million — per common unit (basic and diluted) of $10.5 million and $0.21 respectively; Adjusted Net
• $0.21 — basic and diluted) of $10.5 million and $0.21 respectively; Adjusted Net Income (1)
• $10.3 million — pectively; Adjusted Net Income (1) of $10.3 million and Adjusted Earnings per common unit (
• $0.20 — common unit (1) (basic and diluted) of $0.20; Adjusted EBITDA (1) of $27.4 million
• $27.4 million — ted) of $0.20; Adjusted EBITDA (1) of $27.4 million; and 100% fleet utilization (2) . De
• $0.5625 — eclared and paid a cash distribution of $0.5625 per unit on the Partnerships Series A P
• $0.546875 — ugust 12, 2023 to November 11, 2023 and $0.546875 per unit on the Series B Preferred Unit
• $0.71764025 — clared a quarterly cash distribution of $0.71764025 on the Partnerships Series B Preferred
• $345.0 million — six LNG carriers in an amount of up to $345.0 million. The financing has received counterpart
• $10.5 m — rter of 2023, we reported Net Income of $10.5 million, earnings per common unit of $0.2

Filing Documents

• f32924dlng6k.htm (6-K) — 192KB
• f32924dlng6k002.gif (GRAPHIC) — 14618KB
• 0001317861-24-000015.txt ( ) — 20321KB

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: March 29, 2024 DYNAGAS LNG PARTNERS LP By: /s/ Tony Lauritzen Name: Tony Lauritzen Title: Chief Executive Officer Exhibit 99.1 DYNAGAS LNG PARTNERS LP REPORTS RESULTS FOR THE THREE MONTHS AND YEAR ENDED DECEMBER 31, 2023 ATHENS March 28, 2024 Dynagas LNG Partners LP (NYSE: DLNG) (the Partnership), an owner and operator of liquefied natural gas (LNG) carriers, today announced its results for the three months and year ended December 31, 2023. Year Highlights: Net Income and earnings per common unit (basic and diluted) of $35.9 million and $0.66, respectively; Adjusted Net Income (1) of $25.8 million and Adjusted Earnings per common unit (1) (basic and diluted) of $0.39; Adjusted EBITDA (1) of $94.4 million; and 97.8% fleet utilization (2) . Fourth Quarter Highlights: Net Income and earnings per common unit (basic and diluted) of $10.5 million and $0.21 respectively; Adjusted Net Income (1) of $10.3 million and Adjusted Earnings per common unit (1) (basic and diluted) of $0.20; Adjusted EBITDA (1) of $27.4 million; and 100% fleet utilization (2) . Declared and paid a cash distribution of $0.5625 per unit on the Partnerships Series A Preferred Units (NYSE: DLNG PR A) for the period from August 12, 2023 to November 11, 2023 and $0.546875 per unit on the Series B Preferred Units (NYSE: DLNG PR B) for the period from August 22, 2023 to November 21, 2023. Subsequent Events: Declared a quarterly cash distribution of $0.5625 on the Partnerships Series A Preferred Units for the period from November 12, 2023 to February 11, 2024, which was paid on February 12, 2024 to all preferred Series A unit holders of record as of February 5, 2024; and Declared a quarterly cash distribution of $0.71764025 on the Partnerships Series B Preferred Unit

Forward-Looking Statements

Forward-Looking Statements Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Partnership desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words believe, anticipate, intends, estimate, forecast, project, plan, potential, project, will, may, should, expect, expected, pending and similar expressions identify forward-looking statements. These forward- looking statements are not intended to give any assurance as to future results and should not be relied upon. The forward-looking statements in this press release are based upon various assumptions and estimates, many of which are based, in turn, upon further assumptions, including without limitation, examination by the Partnerships management of historical operating trends, data contained in its records and other data available from third parties. Although the Partnership believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the Partnerships control, the Partnership cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. In addition to these important factors, other important factors that, in the Partnerships view, could cause actual results to differ materially from those discussed, expressed or impli

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