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KNOT Offshore Partners (KNOP)
NYSE:KNOP
RESEARCH TOOLSreports
Earnings Data
Report Date
May 22, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.14Last Year’s EPS
0.22Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 19, 2025
|% Change Since: 12.79%
|Next Earnings Date:May 22, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a positive sentiment overall, with strong financial performance, high operational efficiency, and a positive market outlook. However, there are challenges in refinancing debt and securing future charter coverage.Company Guidance
In the KNOT Offshore Partners Fourth Quarter 2024 earnings call, CEO and CFO Derek Lowe provided comprehensive guidance, highlighting financial metrics and operational achievements. The company reported revenues of $91.3 million, operating income of $34.7 million, and a net income of $23.3 million for Q4, with an adjusted EBITDA of $63.1 million. KNOT Offshore concluded the quarter with $90 million in available liquidity, comprising $67 million in cash and cash equivalents and $23 million in undrawn credit facilities. The company achieved a 98.3% utilization rate, with no planned drydocking affecting vessel availability. A cash distribution of USD 0.026 per common unit was declared, paid in February. The partnership's contracted revenue stood at $870 million, with fixed contracts averaging 2.4 years in duration and charterers' options averaging an additional 4.8 years. Financial resilience was emphasized, with a debt paydown rate of $90 million annually and strategic asset swaps enhancing fleet growth without new funding. The outlook remains positive, with expected growth in shuttle tanker demand, driven by new FPSO deployments in Brazil and the North Sea.Strong Financial Performance in Q4 2024
Revenues were $91.3 million, operating income $34.7 million, net income $23.3 million, and adjusted EBITDA was $63.1 million. The partnership closed Q4 with $90 million in available liquidity.
High Utilization and Operational Efficiency
The company operated at 98.3% utilization with no impact from planned drydocking, indicating high operational efficiency.
Positive Market Outlook and Upcoming Projects
Significant growth is anticipated in production in fields serviced by shuttle tankers, especially in Brazil and the North Sea, with new FPSOs starting production.
Strong Contracted Revenue Position
The partnership has a strong contracted revenue position of $870 million at the end of Q4, with average contract durations of 2.4 years and additional charterers' options averaging 4.8 years.
Successful Vessel Swap
The swap of the Dan Sabia for Live Knutsen brought nearly 5 years of fixed or guaranteed future charter revenue, enhancing fleet growth without new funding.
Insurance Claim Settlement
Closeout of the insurance claim for Torill Knutsen totaling $6 million was completed, providing financial closure on this matter.
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KNOP 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
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KNOP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 19, 2025 | $5.63 | $6.32 | +12.26% |
| Dec 04, 2024 | $5.83 | $5.71 | -2.06% |
| Sep 03, 2024 | $7.59 | $6.91 | -8.96% |
| May 22, 2024 | $5.35 | $5.68 | +6.17% |
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.
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FAQ
When does KNOT Offshore Partners (KNOP) report earnings?
KNOT Offshore Partners (KNOP) is schdueled to report earning on May 22, 2025, TBA Not Confirmed.
What is KNOT Offshore Partners (KNOP) earnings time?
KNOT Offshore Partners (KNOP) earnings time is at May 22, 2025, TBA Not 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 KNOP EPS forecast?
KNOP EPS forecast for the fiscal quarter 2025 (Q1) is 0.14.
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