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Capital Product Partners L.P.(CPLP) - 2022 Q4 - Earnings Call Transcript
2023-02-03 17:31
Capital Product Partners L.P. (NASDAQ:CPLP) Q4 2022 Earnings Conference Call February 3, 2023 9:00 AM ET Company Participants Gerasimos Kalogiratos - Chief Executive Officer Conference Call Participants Omar Nokta - Jefferies Research Services, LLC Liam Burke - B. Riley Securities Operator Thank you for standing by, and welcome to the Capital Product Partners’ Fourth Quarter 2022 Financial Results Conference Call. We have with us Mr. Jerry Kalogiratos, Chief Executive Officer of the company. At this time, a ...
Capital Product Partners L.P.(CPLP) - 2022 Q4 - Earnings Call Presentation
2023-02-03 13:35
▪ Container shipping markets softened during the second half of the year and into Q4-22 from previous exceptional levels, with rates returning towards more normalized levels ▪ The pace of decline has been faster than expected, with both trade volumes faltering and port congestion easing, against a backdrop of eroding consumer and business confidence and increasing capacity availability Containership Supply & Demand Growth Trends 1997-2023 Source: Clarksons LNG Dropdown Opportunities Right of First Offer: | ...
Capital Product Partners L.P.(CPLP) - 2022 Q3 - Earnings Call Transcript
2022-11-09 17:02
Capital Product Partners L.P. (NASDAQ:CPLP) Q3 2022 Results Conference Call November 9, 2022 9:00 AM ET Company Participants Gerasimos Kalogiratos - Chief Executive Officer Conference Call Participants Omar Nokta - Jefferies Liam Burke - B. Riley Operator Thank you for standing by, and welcome to the Capital Product PartnersÂ' Third Quarter 2022 Financial Results Conference Call. We have with us Mr. Jerry Kalogiratos, Chief Executive Officer of the company. At this time, all participants are in a listen-onl ...
Capital Product Partners L.P.(CPLP) - 2022 Q3 - Quarterly Report
2022-11-09 16:00
Exhibit I CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES THIRD QUARTER 2022 FINANCIAL RESULTS ATHENS, Greece, November 9, 2022 (GLOBE NEWSWIRE) — Capital Product Partners L.P. (the "Partnership", "CPLP" or "we" / "us") (NASDAQ: CPLP), an international owner of ocean-going vessels, today released its financial results for the third quarter ended September 30, 2022. Highlights | --- | --- | --- | --- | --- | --- | |-------------------------------------|-------|--------------------|---------|------------------------- ...
Capital Product Partners L.P.(CPLP) - 2022 Q2 - Earnings Call Presentation
2022-07-29 21:49
Second Quarter 2022 Earnings Presentation July 29, 2022 Capital Product Partners L.P. www.capitalpplp.com Important Notice O This presentation contains forward-looking statements (as such term is defined in Section 21E of the Securities Exchange Act of 1934, as amended). These statements can be identified by the fact that they do not relate only to historical or current facts. In particular, forward-looking statements include all statements that express forecasts, expectations, plans, outlook, objectives an ...
Capital Product Partners L.P.(CPLP) - 2022 Q2 - Quarterly Report
2022-06-21 16:00
Financial Performance - Total revenues for the three-month period ended March 31, 2022, amounted to $73.4 million, a 92.5% increase from $38.1 million in the same period of 2021[13] - Operating income for the three-month period ended March 31, 2022, was $33.2 million, compared to $14.0 million for the same period in 2021, reflecting a 137.5% increase[11] - Partnership's net income for the three-month period ended March 31, 2022, was $25.1 million, up from $10.9 million in the same period of 2021, representing a 130.5% increase[11] - Net income for the three-month period ended March 31, 2022, was $25,149,000, compared to $10,879,000 for the same period in 2021, indicating an increase of 131.5%[49] - The partnership's net income per common unit for the three-month period ended March 31, 2022, was $1.26, compared to $0.57 for the same period in 2021[49] Revenue Sources - Time charters contributed $69,087 thousand to revenues for the three-month period ended March 31, 2022, compared to $35,609 thousand for the same period in 2021, reflecting an increase of 94.0%[59] - Voyage charters generated $4,269 thousand in revenues for the three-month period ended March 31, 2022, up from $2,534 thousand in the same period of 2021, marking an increase of 68.4%[59] - Management fees under management agreements for the three-month period ended March 31, 2022, amounted to $2,259 thousand, compared to $1,282 thousand for the same period in 2021, an increase of 76.2%[64] Expenses and Liabilities - Total voyage expenses increased to $3.6 million for the three-month period ended March 31, 2022, from $2.2 million in the same period of 2021, marking a 63.6% increase[15] - Total vessel operating expenses amounted to $16.7 million for the three-month period ended March 31, 2022, compared to $9.2 million in the same period of 2021, reflecting an 81.5% increase[17] - Interest expense for the three-month periods ended March 31, 2022, and 2021 amounted to $9,733 and $2,931, respectively, indicating a significant increase of approximately 231%[76] - Total liabilities as of March 31, 2022, were $1,333,769,000, a decrease from $1,359,706,000 as of December 31, 2021[48] Cash Flow and Liquidity - Net cash provided by operating activities was $48.4 million for the three-month period ended March 31, 2022, compared to $25.2 million for the same period in 2021, reflecting an increase of $23.2 million[30] - Total cash and cash equivalents as of March 31, 2022, amounted to $49.6 million, including restricted cash of $10.6 million, which represents the minimum liquidity requirement under financing arrangements[23] - The Partnership believes that its working capital will be sufficient to meet existing liquidity needs for at least the next 12 months[28] Fleet and Asset Management - The average number of vessels in the fleet increased by 38% or 5.8 vessels, contributing significantly to revenue growth[12] - The partnership owned a fleet of 21 high specification vessels as of March 31, 2022, including 11 Neo-Panamax container carriers and six LNG carriers[55] - The net book value of vessels as of March 31, 2022, was $1,764,366 thousand, down from $1,781,858 thousand at the beginning of the year, reflecting a depreciation of $17,532 thousand during the period[65] Acquisitions and Future Plans - The company agreed to acquire one LNG/C vessel and three eco container vessels for a total consideration of $597.5 million, with deliveries scheduled between January and May 2023[5] - The Partnership expects to continue to evaluate opportunities to acquire vessels and businesses, subject to obtaining required financing and access to financial markets[26] Distributions and Capital - The company declared a cash distribution of $0.15 per common unit for the first quarter of 2022, paid on May 12, 2022[7] - The total partners' capital increased to $546.4 million as of March 31, 2022, up by $20.9 million from $525.5 million as of December 31, 2021, driven by net income and amortization associated with the equity incentive plan[27] - Distributions per common unit declared increased to $0.15 for the period ended January 24, 2022, compared to $0.10 for the period ended January 21, 2021, reflecting a 50% increase[92]
Capital Product Partners L.P.(CPLP) - 2022 Q1 - Quarterly Report
2022-05-10 16:00
Exhibit I CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES FIRST QUARTER 2022 FINANCIAL RESULTS ATHENS, Greece, May 6, 2022 (GLOBE NEWSWIRE) — Capital Product Partners L.P. (the "Partnership", "CPLP" or "we" / "us") (NASDAQ: CPLP), an international owner of ocean-going vessels, today released its financial results for the first quarter ended March 31, 2022. Highlights | --- | --- | --- | --- | --- | |------------------------------------|---------------------------------------------|-----------------|---------------- ...
Capital Product Partners L.P.(CPLP) - 2022 Q1 - Earnings Call Presentation
2022-05-06 16:49
First Quarter 2022 Earnings Presentation May 6, 2022 Capital Product Partners L.P. www.capitalpplp.com Important Notice O This presentation contains forward-looking statements (as such term is defined in Section 21E of the Securities Exchange Act of 1934, as amended). These statements can be identified by the fact that they do not relate only to historical or current facts. In particular, forward-looking statements include all statements that express forecasts, expectations, plans, outlook, objectives and p ...
Capital Product Partners L.P.(CPLP) - 2022 Q1 - Earnings Call Transcript
2022-05-06 16:35
Capital Product Partners L.P. (NASDAQ:CPLP) Q1 2022 Earnings Conference Call May 6, 2022 9:00 AM ET Company Participants Gerasimos Kalogiratos - CEO Conference Call Participants William Burke - B Riley Chris Robertson - Cardinal Capital Management Benjamin Nolan - Stifel, Nicolaus & Company Operator Thank you for standing by and welcome to the Capital Product Partners' First Quarter 2022 Financial Results Conference Call. We have with us Mr. Jerry Kalogiratos, Chief Executive Officer of the Company. At this ...
Capital Product Partners L.P.(CPLP) - 2021 Q4 - Annual Report
2022-04-26 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ...