KNOT Offshore Partners: Some Progress But Outlook Just Got More Clouded [Seeking Alpha]
KNOT Offshore Partners LP Common Units representing Limited Partner Interests (KNOP)
US:NYSE Investor Relations:
ir.knotoffshorepartners.com/investor-relations/default.aspx
Company Research
Source: Seeking Alpha
After cutting common unit distributions by 95% in January 2023, net debt decreased for a fourth consecutive quarter to just below $900 million at the end of Q4. During the quarter, the company secured an important contract extension for the shuttle tanker Carmen Knutsen in Brazil. However, the recent flurry of newbuild orders has impacted long-term prospects for the company's aging fleet. With no clear catalysts in sight, I am reiterating my "Hold" rating on KNOT Offshore Partners common units. Looking for a helping hand in the market? Members of Value Investor's Edge get exclusive ideas and guidance to navigate any climate. Learn More » Note: I have covered KNOT Offshore Partners LP NYSE: KNOP ) previously, so investors should view this as an update to my earlier articles on the company. After the close of Monday's regular session, leading shuttle tanker operator KNOT Offshore Partners LP, or "KNOP," reported stable fourth quarter results with solid cash generation:
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News
- KNOT Offshore Partners LP Announces 1st Quarter 2024 Cash Distribution [Yahoo! Finance]Yahoo! Finance
- KNOT Offshore Partners LP Announces 1st Quarter 2024 Cash DistributionBusiness Wire
- KNOT Offshore Partners LP announces availability of its Form 20-F for the year ended December 31, 2023Business Wire
- KNOT Offshore Partners LP (NYSE:KNOP) Q4 2023 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Knot Offshore Partners LP Earnings Release—interim Results for the Period Ended December 31, 2023Business Wire
KNOP
Sec Filings
- 4/11/24 - Form 20-F
- 2/26/24 - Form 6-K
- 2/20/24 - Form SC
- KNOP's page on the SEC website