KNOT Offshore Partners LP (DE:KO4)
NYSE:KO4
Earnings Data
Report Date
Aug 20, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.13Last Year’s EPS
0.17Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a generally positive operational picture: strong adjusted EBITDA, high utilization excluding dry docks, a sizeable $858M backlog, improved liquidity (+$3.7M QoQ ≈ +2.7%) and successful rechartering/extensions that support multi-year cash flows. Management has resumed and modestly increased distributions and outlined a path for accretive sponsor drop-downs to grow the fleet. Key negatives include a sequential revenue dip tied to scheduled dry docks and contract timing, a significant gap between adjusted EBITDA and GAAP net income, and a prospective useful-life reduction (23 to 20 years, ≈13% shorter) that will raise non-cash depreciation and weigh on reported earnings. Upcoming refinancing milestones represent execution items to monitor. On balance, the operational strengths and backlog outweigh the near-term accounting and timing headwinds.Company Guidance
Revenue and Profitability (Q1 FY26)
Revenues of $92.0 million, operating income of $14.7 million, net income of $2.6 million and adjusted EBITDA of $56.5 million reported for Q1 FY26, demonstrating solid underlying cash generation (adjusted EBITDA materially higher than GAAP net income).
Strong Liquidity Position
Available liquidity of $140.7 million at March 31, 2026 (comprised of $92.7 million cash and $48.0 million undrawn capacity), which was $3.7 million higher than December 31, 2025 (≈+2.7%).
High Fleet Utilization
Reported utilization of 97.2% when accounting for scheduled drydockings; utilization after dry docks was 92.0% (a 5.2 percentage-point difference), indicating strong fleet employment aside from planned maintenance.
Backlog and Contract Coverage
Sustained backlog of $858 million of fixed contracts with an average remaining term of 2.4 years, providing multi-year revenue visibility and coverage.
Commercial Wins and Contract Extensions
Exercised Shell option to continue Hilde Knutsen through March 2027 and subsequently agreed a new time charter with Eni commencing Q3 2027 (3 years fixed + options). Total extended Anna Knutsen for 1 year (to May 2027). Agreed Recife Knutsen charter with Transpetro beginning Q3 2026 for 2 years — demonstrating continued rechartering success.
Distribution Reinstated and Modestly Increased
Declared and paid a quarterly cash distribution of $0.05 per common unit in May, representing an increase from prior levels and marking the resumption of distributions after a period of low payouts.
Fleet and Capital Discipline
Fleet of 19 vessels with average age 10.5 years; the partnership is repaying debt at about $90 million per year and expects to pursue accretive sponsor drop-downs over the next 4–5 years to replenish the fleet.
Favorable Debt Metrics and Refinancing Track Record
Average margin on floating-rate debt during Q1 was 2.22% over SOFR. Management flagged upcoming financings ($220 million facility in Sept 2026 and $65 million facility in Oct) and emphasized a historically constructive refinancing experience.
DE:KO4 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
DE:KO4 Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 28, 2026 | €9.41 | €9.28 | -1.41% |
Mar 25, 2026 | €8.32 | €8.49 | +2.05% |
Dec 04, 2025 | €8.29 | €8.96 | +8.02% |
Sep 26, 2025 | €8.02 | €7.70 | -3.94% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does KNOT Offshore Partners LP (DE:KO4) report earnings?
KNOT Offshore Partners LP (DE:KO4) is schdueled to report earning on Aug 20, 2026, Before Open (Confirmed).
What is KNOT Offshore Partners LP (DE:KO4) earnings time?
KNOT Offshore Partners LP (DE:KO4) earnings time is at Aug 20, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of KNOT Offshore Partners LP stock?
The P/E ratio of KNOT Offshore Partners is N/A.
What is DE:KO4 EPS forecast?
DE:KO4 EPS forecast for the fiscal quarter 2026 (Q2) is 0.13.