Dynagas LNG Partners LP Files 6-K for Q2 2024 Results

TL;DR

DLNG filed Q2 2024 results, check the 6-K for details.

AI Summary

Dynagas LNG Partners LP reported its financial results for the three and six months ended June 30, 2024, on September 10, 2024. The filing incorporates by reference a press release detailing these results, excluding statements attributed to the CEO.

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 and financial health.

Risk Assessment

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

Key Players & Entities

• Dynagas LNG Partners LP (company) — Registrant
• September 10, 2024 (date) — Filing date and press release date
• June 30, 2024 (date) — Reporting period end date

FAQ

Key Financial Figures

• $22.5 million — per common unit (basic and diluted) of $22.5 million and $0.43, respectively; Adjusted Net
• $0 — basic and diluted) of $22.5 million and $0.43, respectively; Adjusted Net Income
• $24.7 million — pectively; Adjusted Net Income (1) of $24.7 million and Adjusted Earnings per common unit (
• $0.50 — common unit (1) (basic and diluted) of $0.50; Adjusted EBITDA (1) $57.6 million; a
• $57.6 million — iluted) of $0.50; Adjusted EBITDA (1) $57.6 million; and 100% fleet utilization (2) . Qua
• $10.7 million — per common unit (basic and diluted) of $10.7 million and $0.20, respectively; Adjusted Net
• $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) $28.6 million;
• $28.6 million — iluted) of $0.25; Adjusted EBITDA (1) $28.6 million; 100% fleet utilization (2) ; Declar
• $0.5625 — eclared and paid a cash distribution of $0.5625 per unit on the Partnerships Series A P
• $0.698533750 — m February 12, 2024 to May 11, 2024 and $0.698533750 per unit on the Series B Preferred Unit
• $345.0 million — he lease financing of a total amount of $345.0 million for four out of the Partnerships six LN
• $675 million — ly prepay outstanding amounts under the $675 million Credit Facility, which was scheduled to
• $0.714537806 — clared a quarterly cash distribution of $0.714537806 on the Partnerships Series B Preferred
• $10.7 m — er of 2024, we reported a Net Income of $10.7 million, with earnings per common unit of

Filing Documents

• f91024dlng6k.htm (6-K) — 197KB
• f91024dlng6k002.gif (GRAPHIC) — 14618KB
• 0001317861-24-000042.txt ( ) — 20326KB

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: September 10, 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 AND SIX MONTHS ENDED JUNE 30, 2024 ATHENS September 10, 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 and six months ended June 30, 2024. Half year Highlights: Net Income and Earnings per common unit (basic and diluted) of $22.5 million and $0.43, respectively; Adjusted Net Income (1) of $24.7 million and Adjusted Earnings per common unit (1) (basic and diluted) of $0.50; Adjusted EBITDA (1) $57.6 million; and 100% fleet utilization (2) . Quarter Highlights: Net Income and Earnings per common unit (basic and diluted) of $10.7 million and $0.20, 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) $28.6 million; 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 February 12, 2024 to May 11, 2024 and $0.698533750 per unit on the Series B Preferred Units (NYSE: DLNG PR B) for the period from February 22, 2024 to May 21, 2024; and On June 19, 2024, the Partnership entered into sale and leaseback agreements with subsidiaries of China Development Bank Financial Leasing Co. Ltd. (CDBL) for the lease financing of a total amount of $345.0 million for four out of the Partnerships six LNG carriers. On June 27, 2024, proceeds received under the lease financing agreements, together with available cash, were used to fully prepay outst

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