Sep 4, 2026 earnings call — Purchased Hilda Knutsen; increased distribution
The partnership bought Hilda Knutsen for $113 million with a net cash cost of $24.4 million.
Revenue $0.1B (est $0.1B) · EPS $0.10 (est $-0.03)
Key quotes
"On September 1, 2026, we purchased the Hilde Knutsen from KNOT, for a purchase price of $113 million."
"We have expanded our strong backlog with $881.2 million of fixed contracts at quarter end, which averaged 2.5 years in duration and charterers options averaging further 4 years."
"In both Brazil and the North Sea, we continue to see tightening markets driven by robust multiyear FPSO pipeline production growth, and continuing investments in exploration and existing project expansion."
Analyst Q&A 1
Timing and financing to add ships
Q (Liam Burke · B. Riley): He asked whether the Hilda-style financing changes the pace of growing the fleet, or whether KNOP will take drop-downs as they come.
A: They said they respond to offers and can only take vessels once those vessels have been delivered, so timing depends on when offers are made and the conflicts committee's response. They said financing is usually already in place as a secured debt facility and can be transferred to KNOP, so new financing does not need to be arranged at the time a drop down is offered. They also said the loan on Hilda was very standard and that "$24 million is fairly consistent" with prior transaction costs.
"I would say the loan on the Hilda is very standard from the point of view of the drop-downs we have had in the past so that those terms did not come as a great surprise." — Derek Lowe (CFO)