- Hoegh LNG Partners LP HMLP reported third-quarter total time charter revenue of $35.6 million, a slight decline of 0.9% year-over-year, beating the consensus of $35.38 million.
- Earnings per unit of $0.40 beat the consensus of $0.35.
- The operating income decreased by 3.3% Y/Y to $27.14 million, and the margin contracted by 190 bps to 76.2%.
- Segment EBITDA was $35.1 million, a decrease of $1.3 million from $36.4 million a year ago.
- Total operating expenses were $14.5 million, an increase of $0.9 million from a year ago, attributed to higher administrative expenses.
- The company had cash and cash equivalents of $45.4 million at the end of the quarter. Book value was $422.1 million, and the outstanding principal of total long-term debt was $427.4 million as of September 30, 2021.
- Hoegh LNG generated cash from operating activities of $21.86 million, compared to $22.81 million a year ago.
- On November 1, 2021, Mr. Sveinung J. S. Støhle stepped down from the CEO position to pursue an alternative career opportunity. The Board of Directors has appointed Håvard Furu, the Partnership's CFO, as the interim CEO.
- Price Action: HMLP shares are trading higher by 6.86% at $4.83 on the last check Thursday.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.