KNOT Offshore Partners LP (NYSE:KNOP) Q3 2024 Earnings Conference Call December 5, 2024 9:30 AM ET
Company Participants
Derek Lowe - CEO and CFO
Conference Call Participants
Liam Burke - B. Riley
Jim Altschul - Aviation Advisory Service
Poe Fratt - Alliance Global Partners
Pavel Oliva - RockHill Global
Clement Mullins - Value Investor's Edge
Fredrik Dybwad - Fearnley Securities
Operator
Good morning and thank you all for joining. I would like to welcome you all to the KNOT Offshore Partners' Third Quarter 2024 Earnings Call. My name is Brica and I will be your moderator for today. All lines will be muted during the presentation portion of the call with the opportunity for questions-and-answers at the end.
I would now like to pass the conference over to your host, Derek Lowe, Chief Executive Officer and Chief Financial Officer at KNOT Offshore Partners. Thank you, you may proceed Derek.
Derek Lowe
Thank you, Brica and good morning ladies and gentlemen. My name is Derek Lowe, I'm the Chief Executive and Chief Financial Officer of KNOT Offshore Partners. Welcome to the partnership's earnings call for the third quarter of 2024. Our website is knotoffshorepartners.com and you can find the earnings release there along with this presentation.
On Slide 2, you will find guidance on the inclusion of forward-looking statements in today's presentation. These are made in good faith and reflect management's current views, known and unknown risks, and are based on assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond our control.
Actual results may differ materially from those expressed or implied in forward-looking statements. And the partnership does not have or undertake a duty to update any such forward-looking statements made as of the date of this presentation. For further information, please consult our SEC filings, especially in relation to our annual and quarterly results.
Today's presentation also includes certain non-U.S. GAAP measures and our earnings release includes a reconciliation of these to the most directly comparable GAAP measures.
On Slide 3, we have the financial and operational headlines for Q3. Revenues were $76.3 million, operating income $17.2 million, and there was a net loss of $3.8 million. Adjusted EBITDA was $45.1 million. We closed Q3 with $77 million in available liquidity, made up of $67 million in cash and cash equivalents plus $10 million in undrawn capacity on our credit facilities.