Dynagas LNG Partners LP Reports Results for the Three and Twelve Months Ended December 31, 2025

Financial Performance - For the twelve months ended December 31, 2025, the company reported a net income of $61.6 million, an increase from $51.6 million in 2024, representing a growth of 19.5% [6][15] - Adjusted net income for the same period was $57.1 million, compared to $54.2 million in 2024, reflecting a 5.3% increase [6][15] - The company achieved adjusted EBITDA of $109.2 million for the twelve months, down from $115.0 million in 2024, a decrease of 5.6% [6][15] Quarterly Highlights - In the fourth quarter of 2025, net income was $15.7 million, up from $14.1 million in Q4 2024, marking an increase of 11.3% [17] - Adjusted net income for Q4 2025 was $14.1 million, down from $15.0 million in Q4 2024, a decrease of 6.0% [18] - Voyage revenues for Q4 2025 were $40.0 million, a decrease of 4.1% from $41.7 million in Q4 2024 [19] Fleet Utilization and Revenue Backlog - The company reported a fleet utilization rate of 99.3% for the twelve months ended December 31, 2025, compared to 100% in 2024 [20][30] - As of December 31, 2025, the estimated contracted revenue backlog was $0.84 billion, with an average remaining contract term of 5.1 years [12][30] Cash Distributions and Repurchase Program - The company declared a quarterly cash distribution of $0.050 per common unit for the quarter ended December 31, 2025, paid on February 27, 2026 [9][7] - A new common unit repurchase program was authorized on November 24, 2025, allowing for the repurchase of up to $10.0 million of common units [9][6] Market Conditions and Geopolitical Factors - Recent geopolitical tensions in the Middle East have increased volatility in global LNG markets, leading to higher LNG prices and shipping rates [10] - The company's fleet is fully contracted under long-term charters, insulating it from short-term market fluctuations [10] Operational Costs - Vessel operating expenses for Q4 2025 were $8.8 million, with a daily rate per vessel of $15,862, compared to $8.1 million and $14,732 in Q4 2024 [21] - Net interest and finance costs decreased to $4.7 million in Q4 2025 from $5.5 million in Q4 2024, a reduction of 14.5% [23]