Capital Product Partners had a strong second quarter in 2024, with revenue and net income increasing

From GlobeNewswire: 2024-08-02 07:00:00

Capital Product Partners recently released its financial results for Q2, 2024. Revenue increased by 10% to $97.7 million, with net income skyrocketing to $34.2 million. The partnership also announced a $756.0 million investment in 10 gas carriers and the appointment of Brian Gallagher as Executive Vice President for Investor Relations.

The Partnership, now called Capital Clean Energy Carriers Corp., has seen significant growth with the acquisition of new vessels and the delivery of LNG carriers. Total revenue for Q2 was $97.7 million, expenses were $48.3 million, and net income was $34.2 million, resulting in earnings per common unit of $0.62.

Cash on hand as of June 30, 2024, amounted to $101.2 million, with total partners’ capital reaching $1,230.0 million. Total debt stood at $2,596.5 million, reflecting an increase of $808.7 million compared to December 31, 2023. The increase was primarily due to financing acquisitions of new vessels in the LNG/C Transaction.



Read more at GlobeNewswire:: Capital Product Partners L.P. Announces Second Quarter 2024