Dynagas LNG Partners (DLNG) Misses Q2 EPS by 11c, Miss on Revenues

Dynagas LNG Partners (NYSE: DLNG) reported Q2 EPS of $0.07, $0.11 worse than the analyst estimate of $0.18. Revenue for the quarter came in at $31.98 million versus the consensus estimate of $34.73 million.

Highlights:

• Operating income of $8.7 million, net loss of $5.2 million and loss per common unit (1) of $0.19 for the three months ended June 30, 2017; Included in the second quarter 2017 results are: (i) $4.9 million of scheduled class survey and dry dock costs for the three steam turbine vessels in the Partnership's fleet and (ii) a one-off $2.6 million write-off of deferred loan fees associated with the Partnership's prior indebtedness refinanced with the proceeds of the Term Loan B.
• Adjusted Net Income (2) of $4.2 million, Adjusted Earnings per common unit (1)(2) of $0.07 and Adjusted EBITDA(2) of $22.9 million for the three months ended June 30, 2017;
• Distributable Cash Flow (2)of $8.2 million during the three months ended June 30, 2017;
• $74.3 million of cash and $104.3 million of available liquidity as of June 30, 2017;
• Quarterly cash distribution of $0.4225 per common unit and $0.5625 per preferred unit.

For earnings history and earnings-related data on Dynagas LNG Partners (DLNG) click here.

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