Knot Offshore Partners Lp Stock Price, News & Analysis

KNOT Offshore Partners LP (NYSE:KNOP) has filed its Annual Report on Form 20-F for the year ended December 31, 2022, with the SEC. The report is accessible through the Partnership’s website under the 'Investors' section or directly on the SEC's site. Unitholders can request a hard copy of the Annual Report, which includes the complete audited financial statements, free of charge via email or postal mail. KNOT Offshore operates shuttle tankers under long-term charters primarily in the North Sea and Brazil, and its common units trade on the NYSE under the symbol 'KNOP.'

KNOT Offshore Partners LP reported robust financials for Q4 2022, with total revenues reaching $71.6 million, operating income at $19.6 million, and a net income of $6.0 million. Adjusted EBITDA was $47.4 million, while available liquidity stood at $47.6 million. Vessel utilization was strong at 96.1% for scheduled operations. The Partnership declared a quarterly cash distribution of $0.026 per common unit. Notably, the Windsor Knutsen commenced a one-year charter with Shell, enhancing future revenue potential. Despite a challenging North Sea market, management remains optimistic about medium-term demand growth amidst limited new build orders.

KNOT Offshore Partners LP (NYSE:KNOP) will release its Fourth Quarter 2022 financial results on March 15, 2023, before market opening. A conference call to discuss the results is scheduled for the same day at 10:00 AM Eastern Time. Interested parties can access the call via the company’s website or by phone. The Fourth Quarter 2022 Earnings Presentation will be available on their website ahead of the call, and a recorded version of the call will be accessible until March 22, 2023.

KNOT Offshore Partners LP specializes in owning and operating shuttle tankers under long-term charters in offshore oil production areas, primarily in the North Sea and Brazil.

Knot Offshore Partners LP (NYSE:KNOP) announced a quarterly cash distribution of $0.026 per common unit for Q4 2022, payable on February 9, 2023, to unitholders of record on January 26, 2023. CEO Gary Chapman highlighted ongoing challenges in the shuttle tanker market, attributing reduced earnings visibility to multiple drydocks and the lack of finalized charters for four vessels in Brazil. The Partnership aims for a sustainable long-term distribution despite these challenges, believing the medium-term market in the North Sea and Brazil will improve significantly.

KNOT Offshore Partners LP (NYSE:KNOP) announced that the upcoming U.S. Treasury and IRS regulations on publicly traded partnerships will not affect its unitholders, effective January 1, 2023. These regulations mandate a 10% tax withholding for certain non-U.S. partners, potentially restricting non-U.S. investors' ability to hold such interests. However, KNOP has elected to be treated as a C corporation for tax purposes, which exempts its unitholders from these regulations. This corporate structure allows the Partnership to issue a Form 1099 instead of a Form K-1.

KNOT Offshore Partners LP (NYSE:KNOP) reported Q3 2022 total revenues of $67.8 million, an increase from $64.0 million in Q2 2022. The partnership achieved an operating income of $15.7 million and a net income of $16.0 million. Adjusted EBITDA was $43.3 million with distributable cash flow at $10.9 million. The fleet maintained a high utilization rate of 99.7%. A quarterly cash distribution of $0.52 per common unit was declared. However, the company anticipates potential challenges in the North Sea due to oversupply and seeks additional employment opportunities.

KNOT Offshore Partners LP (NYSE:KNOP) will release its Third Quarter 2022 financial results on November 30, 2022, before market opening.

The Partnership will hold a conference call on the same day at 10:00 AM Eastern Time for discussing the results, which interested parties can join via phone or webcast. The earnings presentation will also be available on its website. A recording of the call will be accessible until December 7, 2022.

KNOT Offshore operates shuttle tankers primarily under long-term charters in the North Sea and Brazil.

KNOT Offshore Partners LP (NYSE:KNOP) has declared a quarterly cash distribution of $0.52 per unit for the quarter ended September 30, 2022. This annualizes to $2.08 per unit. The distribution will be paid on November 9, 2022, to all unitholders on record as of the close of business on October 27, 2022. KNOT Offshore focuses on owning and operating shuttle tankers under long-term charters in offshore oil production areas, primarily in the North Sea and Brazil.

Knot Offshore Partners LP (NYSE:KNOP) has announced that its 2022 Annual Meeting will take place on October 20, 2022, with a record date for voting set on September 20, 2022. The meeting is scheduled for 3:00 PM UK time at One Elmfield Park, Bromley, United Kingdom. Prior to the meeting, notice and agenda will be distributed. In light of potential public health regulations, the location may change or the meeting could be held remotely, with announcements made in advance.