Dynagas LNG Partners LP Q1 FY2023 earnings call

Tony Lauritzen:

• All 6 LNG carriers in fleet under long-term charters with international gas companies.
• Net income $9.6M, adjusted net income $6.5M, adjusted EBITDA $23.6M for Q1 2023.
• On 27 March 2023, made a $31.3M prepayment on $675M credit facility.

Michael Gregos:

• Net income decreased 60% to $9.6M vs Q1 2022 due to various factors including interest rate swap changes.
• Adjusted EBITDA stable at $23.6M vs last year.
• Generated $13.7M operating cash flow, reduced cash balance by $27M to $53M due to prepayment.
• Continued deleveraging, net leverage down to 4.5 times from 6.6 times, book value of equity at $431M.

In the first quarter of 2023, Dynagas LNG Partners had a net income of $9.6 million, with earnings per common unit at $0.18. Adjusted net income was $6.5 million (adjusted earnings per common unit $0.10), and adjusted EBITDA was $23.6 million. All 6 LNG carriers in the fleet were operating under long-term charters. Revenue contribution details aren't specified as there's one main segment.

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• Anticipate continued positive demand for LNG shipping due to recognition of LNG's role in reducing emissions.
• Favorable market conditions for 150,000-160,000 cubic LNG carrier segment, especially for supplying Europe.
• Will leverage healthy market conditions to explore further opportunities for the fleet.

Q: A: Q: There are no questions at this time A: