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What to Expect from GasLog Partners’ Upcoming 1Q18 Results

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Dec. 4 2020, Updated 10:51 a.m. ET

1Q18 results

GasLog Partners (GLOP), an international operator, owner, and manager of LNG (liquefied natural gas) carriers, plans to release its 1Q18 results before the market opens on April 27. The release will be followed by a conference call on the same day.

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4Q17 recap

In 4Q17, GasLog Partners recorded its strongest quarterly revenue, profit, and EBITDA (earnings before interest, tax, depreciation, and amortization). GasLog Partners earned revenue of $77.3 million, a 5.3% rise quarter-over-quarter and a 33.5% rise year-over-year. GasLog Partners increased its cash distribution to $0.52 per unit ($2.09 per unit annualized), a 1.2% rise from 3Q17 and a 6.8% rise from 4Q16. The company has a healthy distribution coverage ratio of 1.2x. GasLog Partners has completed the acquisition of GasLog Solaris, which is attached to a multiyear charter with Royal Dutch. The company has completed the public offering of 8.2% Series B cumulative redeemable perpetual fixed-to-floating-rate preference units.

Stock performance

GasLog Partners stock has fallen 4.0% since the beginning of the year. It has underperformed the S&P 500 Index, which has returned -0.12% since the beginning of the year. The following are the YTD (year-to-date) returns of other LNG (UNG) carrier companies as of April 23:

  • Golar LNG Partners (GMLP) fell 14.3%.
  • Teekay LNG Partners (TGP) fell 7.4%.
  • Hoegh LNG Partners (HMLP) fell 4.0%.
  • GasLog (GLOG) fell 22.2%.
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Comparison with MLPs

GasLog Partners is an MLP. It has outperformed the Alerian MLP Index (AMZ), which has a YTD return of -4.8%. GasLog Partners also has a higher dividend yield of 8.8% than AMZ, which has a dividend yield of 8.3%.

Series overview

GasLog Partners is generally first among its peers to release quarterly results. With GasLog Partners’ 1Q18 results around the corner, we’ll look at what analysts expect from the company’s revenue and EBITDA for 1Q18 and fiscal 2018. We’ll also look at recent changes in analysts’ recommendations and target price.

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