KNOT Offshore Partners reports Q2 results
KNOT Offshore Partners reported a net income of $6.8 million for Q2 2025, with revenue of $87.06 million, marking a 17.0% year-over-year increase that exceeded expectations by $2.2 million.
The company maintained a strong liquidity position of $104.8 million as of June 30, 2025, including $66.3 million in cash and an undrawn revolving credit facility of $38.5 million.
KNOT Offshore achieved 100% utilization in scheduled operations and a total fleet utilization rate of 96.8% during the quarter, following drydockings of two vessels.
The company is optimistic about the shuttle tanker market, citing favorable supply and demand dynamics and substantial commitments from industry players for future growth.
Recommendation Rating: Positive Outlook for KNOT Offshore Partners
KNOT Offshore Partners (NYSE: KNOP) recently released its financial results for the second quarter of 2025, reporting a net income of $6.8 million. The company's revenue reached $87.06 million, reflecting a year-over-year increase of 17.0%, surpassing expectations by $2.2 million. KNOT generated an Adjusted EBITDA of $51.6 million during this quarter.
As of June 30, 2025, KNOT Offshore Partners reported a robust liquidity position, totaling $104.8 million. This liquidity is comprised of $66.3 million in cash and cash equivalents, along with an undrawn revolving credit facility of $38.5 million.
The fleet demonstrated impressive operational efficiency, achieving 100% utilization for scheduled operations in Q2 2025. When considering the scheduled drydockings of the Raquel Knutsen and the Windsor Knutsen, which wrapped up during the quarter, the overall fleet utilization rate stood at 96.8%.
Looking ahead, KNOT Offshore Partners expresses confidence in the medium to long-term outlook for the shuttle tanker market. The company cites optimistic supply and demand dynamics, coupled with significant forward visibility and committed capital from industry players, as indicators of a positive future in this segment.