KNOT Offshore Partners Reports Q2 2026 Earnings with Revenue Growth
KNOT Offshore Partners LP (KNOP) reported second-quarter earnings for 2026, showing revenue growth to $96.8 million from the previous quarter's $92.0 million due to higher loss-of-hire insurance recoveries and fewer off-hire days. Operating income increased by $0.9 million year-over-year to $15.6 million, while adjusted EBITDA rose slightly to $57.6 million compared to Q1 2026's $56.5 million. The company maintained strong liquidity with $143.3 million available as of June 30, 2026, and announced a cash distribution increase to $0.075 per common unit from the prior quarter’s $0.05. KNOT also completed the acquisition of Hedda Knutsen for $113.0 million in September 2026 and secured several multiyear charter agreements with major clients like ENI and Transpetro, enhancing long-term cash flow visibility. Management highlighted a tightening shuttle tanker market due to offshore production projects in Brazil and the North Sea, supported by strong contract coverage for both 2026 and beyond. Derek Lowe, CEO of KNOT Offshore Partners LP, emphasized these developments as positive indicators for future performance.
Tickers: $KNOP
Topics: acquisition adjusted_ebitda cash_distribution charter_contracts debt_refinancing liquidity net_income operating_income revenue vessel_utilization