Athens, Greece – Dynagas LNG Partners LP recently held its Q4 2023 Earnings Call with CEO Tony Lauritzen and CFO Michael Gregos providing insights into the company’s financial performance. The call, which took place on March 28, 2024, at 10:00 AM ET, highlighted the company’s achievements and future plans.
During the conference call, Lauritzen and Gregos discussed the company’s forward-looking statements within the context of the Federal Securities Laws. They emphasized key financial metrics, such as net income, adjusted EBITDA, and earnings per common unit, for the fourth quarter of 2023 and the full year.
One notable announcement was the partnership’s signing of a term sheet with a major leasing company in Asia for the lease financing of four out of six LNG carriers, amounting to $345 million. This financing is expected to close in the second quarter of 2024 and will be used to fully repay the partnership’s debt maturing in September 2024.
Gregos provided further insights into the financial results, highlighting aspects such as net income, adjusted net income, and adjusted EBITDA for the year. He also discussed the company’s strategy for debt reduction and its focus on organic cash flow to increase equity value.
The company’s fleet composition, current charters, and contracted backlog were also presented, showcasing a strong profile that positions the partnership for stable income in the years ahead. The global energy carrier fleet landscape, LNG production capacity, and demand trends were discussed to provide context for the company’s operations.
In the Q&A session, analysts inquired about the refinancing terms, cash outflows, debt service, and potential utilization of excess cash flow. Lauritzen and Gregos addressed these questions, outlining the company’s strategies and priorities moving forward.
Overall, the Earnings Call provided valuable insights into Dynagas LNG Partners LP’s financial performance, strategic initiatives, and outlook for the future. The company’s focus on debt reduction, stable cash flow, and long-term charters reflects its commitment to financial stability and growth in the LNG industry.
