GasLog Partners (GLOP) Tops Q3 EPS by 6c, Revenues Beat

GasLog Partners (NYSE: GLOP) reported Q3 EPS of $0.53, $0.06 better than the analyst estimate of $0.47. Revenue for the quarter came in at $86.35 million versus the consensus estimate of $81.46 million.

Mr. Andrew Orekar, Chief Executive Officer, commented: “I am very pleased to present another strong operating and financial quarter for GasLog Partners, with record quarterly Partnership Performance Results for Revenues and EBITDA. In the third quarter, we continued to execute on our strategy, raising growth capital from a leading energy infrastructure investor and delivering stable cash flows from our existing fleet. The acquisition of the Methane Becki Anne is anticipated to be immediately accretive to our Distributable cash flow per unit and increases our contracted days to 91% in 2019 and 70% in 2020.

We are reiterating our year-on-year distribution growth guidance of 5% to 7% in 2018, and we expect further year-on-year distribution growth of 2% to 4% in 2019. Our guidance reflects the positive fundamentals in the LNG shipping market, where spot rates have recently reached new multi-year highs, our acquisitions of the GasLog Gibraltar and the Methane Becki Anne in 2018, and continued access to equity capital to fund drop-down acquisitions, while also considering our scheduled dry-dockings and one vessel coming off charter in late 2019.”

For earnings history and earnings-related data on GasLog Partners (GLOP) click here.

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