Overview

* Dynagas LNG ( DLNG ) Q2 net income rises 28% yr/yr, driven by reduced finance costs

* Adjusted EBITDA for Q2 dips 3.1% due to lower cash voyage revenues

* Co repurchased 156,319 common units under its Repurchase Program

Outlook

* Dynagas LNG ( DLNG ) expects no vessel availability before 2028

* Company has $0.9 bln estimated contract backlog

* Dynagas LNG ( DLNG ) foresees annual cash savings of $5.7 mln from Series B redemption

* Company says current sanctions have no material impact on operations

Result Drivers

* LONG-TERM CHARTERS - High fleet utilization at 99.4% due to long-term charters with leading gas companies

* DEBT REFINANCING - Reduced interest and finance costs following debt refinancing in June 2024

* VOYAGE REVENUES - Slight increase in voyage revenues driven by non-cash effects from EU emissions allowances

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $38.61

Voyage mln

Revenues

Q2 $14.46

Adjusted mln

Net

Income

Q2 Net $13.71

Income mln

Q2 $27.69

Adjusted mln

EBITDA

Q2 $19.18

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:

(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.)