Dynagas LNG Partners LP Files Q1 2024 Results

TL;DR

Dynagas LNG Partners LP dropped its Q1 2024 earnings report on July 1st.

AI Summary

Dynagas LNG Partners LP filed a 6-K report on July 1, 2024, incorporating a press release dated June 27, 2024. This press release details the partnership's financial results for the three months ended March 31, 2024. The filing is made pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934.

Why It Matters

This filing provides investors with the latest financial performance data for Dynagas LNG Partners LP, crucial for assessing the company's operational health and investment potential.

Risk Assessment

Risk Level: low — This is a routine financial filing (6-K) reporting past results, not announcing new material events or significant changes.

Key Players & Entities

• Dynagas LNG Partners LP (company) — Registrant
• June 27, 2024 (date) — Press Release Date
• March 31, 2024 (date) — Reporting Period End Date
• July 1, 2024 (date) — Filing Date

FAQ

Key Financial Figures

• $11.8 million — per common unit (basic and diluted) of $11.8 million and $0.23, respectively; Adjusted Net
• $0 — basic and diluted) of $11.8 million and $0.23, respectively; Adjusted Net Income
• $12.4 million — pectively; Adjusted Net Income (1) of $12.4 million and Adjusted Earnings per common unit (
• $0.25 — common unit (1) (basic and diluted) of $0.25; Adjusted EBITDA (1) $29.0 million;
• $29.0 million — iluted) of $0.25; Adjusted EBITDA (1) $29.0 million; 100% fleet utilization (2) ; and Dec
• $0.5625 — eclared and paid a cash distribution of $0.5625 per unit on its Series A Preferred Unit
• $0.71764025 — ember 12, 2023 to February 11, 2024 and $0.71764025 per unit on the Series B Preferred Unit
• $0.69853375 — clared a quarterly cash distribution of $0.69853375 on the Partnerships Series B Preferred
• $345.0 million — Financial Leasing Co. Ltd. (CDBL) for a $345.0 million lease financing agreement of four out o
• $675 million — ble cash, were used to fully prepay the $675 million Credit Facility, which was scheduled to
• $11.8 m — rter of 2024, we reported Net Income of $11.8 million, earnings per common unit of $0.2
• $1.07 billion — cklog currently stands at approximately $1.07 billion equating to approximately $178 million
• $178 million — $1.07 billion equating to approximately $178 million per vessel as of June 27, 2024. We are
• $345.0 m — LNG carriers. This financing, totaling $345.0 million, along with our available cash re
• $408 million — sting outstanding debt in the amount of $408 million before its maturity in September 2024.

Filing Documents

• f70124dlng6k.htm (6-K) — 142KB
• f70124dlng6k002.gif (GRAPHIC) — 14618KB
• 0001317861-24-000033.txt ( ) — 20271KB

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: July 1, 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 ENDED MARCH 31, 2024 ATHENS June 27, 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 ended March 31, 2024. Quarter Highlights: Net Income and Earnings per common unit (basic and diluted) of $11.8 million and $0.23, respectively; Adjusted Net Income (1) of $12.4 million and Adjusted Earnings per common unit (1) (basic and diluted) of $0.25; Adjusted EBITDA (1) $29.0 million; 100% fleet utilization (2) ; and Declared and paid a cash distribution of $0.5625 per unit on its Series A Preferred Units (NYSE: DLNG PR A) for the period from November 12, 2023 to February 11, 2024 and $0.71764025 per unit on the Series B Preferred Units (NYSE: DLNG PR B) for the period from November 22, 2023 to February 21, 2024. Subsequent Events: Declared a quarterly cash distribution of $0.5625 on the Partnerships Series A Preferred Units for the period from February 12, 2024 to May 11, 2024, which was paid on May 13, 2024 to all preferred Series B unit holders of record as of May 6, 2024; Declared a quarterly cash distribution of $0.69853375 on the Partnerships Series B Preferred Units for the period from February 22, 2024 to May 21, 2024, which was paid on May 22, 2024 to all preferred Series B unit holders of record as of May 15, 2024; and On June 19, 2024, the Partnership entered into definitive documentation with subsidiaries of China Development Bank Financial Leasing Co. Ltd. (CDBL) for a $345.0 million lease financing agreement of four out of

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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View this 6-K filing on SEC EDGAR