KNOT Offshore Q2 revenue beats estimates on insurance recoveries
KNOP•Outlook
- Company is fully contracted for H2 2026, with 97% coverage for H1 2027
- KNOT Offshore expects shuttle tanker demand to remain strong in Brazil and the North Sea
- Company anticipates gradual distribution increases over coming quarters and years
Overview
- Shuttle tanker lessor's Q2 revenue rose, beating analyst expectations
- Q2 net income fell year over year due to higher depreciation and operating expenses
- Company completed acquisition of Hedda Knutsen and refinanced $225 million in vessel debt
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $96.80 million | $91.64 million (3 analysts) |
| Q2 Net Income | $3.40 million | ||
| Q2 Operating Income | $15.60 million | ||
| Q2 Vessel Operating Expenses | $36.40 million |
Result drivers
- Insurance recoveries - Higher loss of hire insurance recoveries contributed to increased revenue in Q2 2026
- - Increased time charter rates and higher insurance recoveries supported revenue compared with Q2 2025
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