Dynagas LNG Partners LP(US:DLNG) Globenewswireยท2025-09-08 12:30Financial Performance - For the three months ended June 30, 2025, the company reported a net income of $13.7 million, an increase of $3.0 million or 28.0% compared to the same period in 2024 [18] - Adjusted net income for the same period was $14.5 million, up $2.1 million or 16.9% year-over-year [19] - Voyage revenues increased to $38.6 million, a rise of $1.0 million or 2.7% from the previous year [20] Operational Metrics - The company achieved a fleet utilization rate of 99.4% for the three months ended June 30, 2025, compared to 100% in the same period of 2024 [21] - Average daily hire gross of commissions was approximately $70,730 per day per vessel, down from $72,010 in the prior year [21] - The company maintained a strong contract backlog estimated at approximately $0.9 billion with an average remaining contract duration of 5.4 years [11][32] Cash Flow and Liquidity - The company generated net cash from operating activities of $24.3 million for the three months ended June 30, 2025, an increase of $1.8 million or 8.0% from the same period in 2024 [28] - As of June 30, 2025, the cash balance stood at $77.9 million, with no debt maturities until mid-2029 [14][13] - The company redeemed all 2,200,000 Series B Preferred Units for a total payment of $56.0 million, funded by internal cash reserves [30] Debt and Financing - The company reported total outstanding debt of $300.8 million, with annual debt amortization of $44.2 million, representing 14.6% of total debt [13] - Net interest and finance costs decreased to $5.2 million for the three months ended June 30, 2025, down 36.6% from $8.2 million in the same period of 2024 [24] Market Environment - The company remains insulated from short-term volatility in the LNG market due to its contracts-based business model [10] - Current U.S. and E.U. sanctions related to the Russian conflict do not materially affect the company's operations or financial condition [16]