Knot Offshore Partners (KNOP) Reports Q2 Net Loss of $10.9M
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KNOT Offshore Partners LP Earnings Release—Interim Results for the Period Ended June 30, 2021
August 26, 2021 7:34 AM EDTABERDEEN, Scotland--(BUSINESS WIRE)-- Â
Financial Highlights
For the three months ended June 30, 2021, KNOT Offshore Partners LP (KNOT Offshore Partners or the Partnership):
Generated total revenues of $70.9 million, operating loss of $1.2 million and net loss of $10.9 million after recording a $29.4 million non-cash write-down in respect of the Windsor Knutsen. When adjusted to remove the impact of the non-cash write-down, adjusted operating income for the quarter was $28.2 million and adjusted net income was $18.5 million. Generated Adjusted EBITDA of $52.1 million (1) Generated distributable cash flow of $24.0 million (1) Reported a distribution coverage ratio of 1.32... More