KNOT Offshore Partners Reports Q4 2025 Financial Highlights
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 25 2026
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Should l Buy KNOP?
Source: Newsfilter
- Financial Performance Overview: KNOT Offshore Partners reported total revenues of $96.5 million for Q4 2025, with a net loss of $6.2 million due to a $20.3 million impairment on the Bodil Knutsen, although adjusted net income stood at $14.0 million, indicating operational resilience.
- Liquidity Position: As of December 31, 2025, the Partnership had $137.0 million in available liquidity, comprising $89.0 million in cash and cash equivalents and $48.0 million in undrawn revolving credit capacity, ensuring financial flexibility for future operations.
- Fleet Utilization Rates: The fleet operated at a remarkable 99.5% utilization for scheduled operations in Q4 2025, and 96.4% when accounting for scheduled drydocking, reflecting the company's excellence in scheduling and operational efficiency.
- Dividends and Buyback Program: The Partnership declared a quarterly cash distribution of $0.026 per common unit on January 7, 2026, and initiated a buyback program of up to $10 million in July 2025, demonstrating a strong commitment to shareholder returns.
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Analyst Views on KNOP
Wall Street analysts forecast KNOP stock price to fall
3 Analyst Rating
0 Buy
3 Hold
0 Sell
Hold
Current: 10.120
Low
10.00
Averages
10.00
High
10.00
Current: 10.120
Low
10.00
Averages
10.00
High
10.00
About KNOP
KNOT Offshore Partners LP is a United Kingdom-based company that owns, operates and acquires shuttle tankers primarily under long-term charters in the offshore oil production regions of Brazil and the North Sea. The Company's fleet consists of approximately 18 shuttle tankers, which vessels are designed to transport crude oil and condensates from offshore oil field installations to onshore terminals and refineries. Its shuttle tankers are equipped with sophisticated loading and dynamic positioning systems that allow the vessels to load cargo safely from oil field installations, in harsh weather conditions and where there are strong currents. The Company's vessels include Tove Knutsen, Synnove Knutsen, Lena Knutsen, Vigdis Knutsen, Anna Knutsen, Tordis Knutsen, Raquel Knutsen, Carmen Knutsen, Brasil Knutsen, Hilda Knutsen, Torill Knutsen, Ingrid Knutsen, Dan Sabia, Bodil Knutsen, Fortaleza Knutsen, Recife Knutsen, Dan Cisne, Windsor Knutsen, and others.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
- Annual Report Filing: KNOT Offshore Partners LP announced the filing of its Annual Report on Form 20-F for the year ended December 31, 2025, with the SEC, ensuring timely access to financial information for investors through its website.
- Financial Transparency: The report includes complete audited financial statements, and unitholders can request a hard copy free of charge via email or mail, enhancing communication and trust between the company and its investors.
- Corporate Structure: Although structured as a publicly traded master limited partnership, KNOT Offshore Partners LP is classified as a corporation for U.S. federal tax purposes, issuing a Form 1099 to unitholders, which simplifies tax reporting processes.
- Market Positioning: The company focuses on owning and operating shuttle tankers under long-term charters primarily in offshore oil production regions of Brazil and the North Sea, demonstrating its specialization and long-term strategic positioning in specific markets.
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- Announcement of Availability: KNOT Offshore Partners LP has announced the availability of its Form 20-F for the year ended December 31, 2025.
- Regulatory Compliance: The filing is part of the company's compliance with regulatory requirements for financial reporting.
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- Quarterly Dividend Declaration: KNOT Offshore Partners has declared a quarterly dividend of $0.05 per share, consistent with previous distributions, indicating stable cash flow and profitability, which is likely to attract more investor interest.
- Yield Analysis: The forward yield of 1.99% reflects the company's appeal in the current market environment, potentially boosting shareholder confidence and stabilizing the stock price.
- Payment Schedule: The dividend is set to be paid on May 14, with a record date of April 27 and an ex-dividend date also on April 27, providing investors with a clear timeline that aids in their investment decisions.
- Market Reaction Expectations: Following the dividend announcement, market attention on KNOT Offshore Partners may increase, especially against the backdrop of analysts' optimism regarding its recovery potential, which could drive the stock price higher.
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- Quarterly Cash Distribution: KNOT Offshore Partners has announced a cash distribution of $0.05 per common unit for Q1 2026, reflecting the company's proactive stance in its ongoing capital allocation review.
- Payment Schedule: This cash distribution will be paid on May 14, 2026, to all unitholders of record as of April 27, 2026, ensuring timely returns for investors.
- Operational Model: KNOT Offshore Partners primarily owns, operates, and acquires shuttle tankers under long-term charters in offshore oil production regions of Brazil and the North Sea, showcasing its expertise and market position in maritime transport.
- Tax Structure Clarification: As a publicly traded master limited partnership, KNOT Offshore Partners is classified as a corporation for U.S. federal tax purposes, issuing a Form 1099 to its unitholders instead of a Form K-1, simplifying the tax process for investors.
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- Financial Performance Overview: KNOT Offshore Partners reported total revenues of $96.5 million for Q4 2025, with a net loss of $6.2 million due to a $20.3 million impairment on the Bodil Knutsen, although adjusted net income stood at $14.0 million, indicating operational resilience.
- Liquidity Position: As of December 31, 2025, the Partnership had $137.0 million in available liquidity, comprising $89.0 million in cash and cash equivalents and $48.0 million in undrawn revolving credit capacity, ensuring financial flexibility for future operations.
- Fleet Utilization Rates: The fleet operated at a remarkable 99.5% utilization for scheduled operations in Q4 2025, and 96.4% when accounting for scheduled drydocking, reflecting the company's excellence in scheduling and operational efficiency.
- Dividends and Buyback Program: The Partnership declared a quarterly cash distribution of $0.026 per common unit on January 7, 2026, and initiated a buyback program of up to $10 million in July 2025, demonstrating a strong commitment to shareholder returns.
See More
- Financial Performance: KNOT Offshore Partners reported a net loss of $6.2 million in Q4 2025, primarily due to a $20.3 million non-cash impairment related to the Bodil Knutsen vessel, indicating challenges in asset management.
- Revenue Growth: Despite the loss, the company achieved revenue of $96.49 million in Q4, representing a 5.7% year-over-year increase, suggesting some revenue growth potential in the current market environment.
- Liquidity Position: As of December 31, 2025, the company had $137.0 million in available liquidity, comprised of $89.0 million in cash and cash equivalents and $48.0 million in undrawn revolving credit capacity, demonstrating short-term financial stability.
- Operational Efficiency: The fleet operated at 99.5% utilization for scheduled operations in Q4 2025, and 96.4% when accounting for the scheduled drydocking of the Synnøve Knutsen, reflecting high operational efficiency in fleet management.
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