# KNOP earnings call intelligence

LOPJLB CallCard / temporal rollup · freemium · [stock page](https://www.lopjlb.com/stock/KNOP) · [Earnings tab](https://www.lopjlb.com/stock/KNOP?tab=earnings)

Updated: 2026-09-04T05:22:06

Quarters analyzed: 8

## Cross-quarter narrative

Across 8 calls for KNOP, management tone moved from +0.60 (2024 Q2) to +0.00 (2026 Q1). Latest guidance stance: vague. Latest desk line: n/a

## Latest CallCard · Q1

**Guidance:** vague

**Tone:** mgmt 0 · Q&A pressure 0 · divergence 0

## Quarter one-liners

- **2026 Q1:** —
- **2025 Q4:** KNOP Q4 2025: strong utilization, $929M backlog, tightening shuttle tanker markets; sponsor buyout talks ended; capital allocation under review amid debt refinancings and drop-down potential.
- **2025 Q3:** KNOP reported strong Q3 results with near‑full utilization, robust refinancing, a completed buyback, new charter for Fortaleza Knutsen and an unsolicited sponsor offer under review, but no new guidance was given.
- **2025 Q2:** KNOP Q2 2025: strong utilization, $895M backlog, acquired Daqing Knutsen via drop-down, refinanced Tove Knutsen, initiated $10M buyback, fleet growth and rejuvenation focus.
- **2025 Q1:** KNOT Offshore posted strong Q1 2025 results with 99.5% utilization, solid liquidity and a positive outlook, while highlighting ongoing drop‑down opportunities, refinancing work and rolling interest‑rate hedges.
- **2024 Q4:** KNOP posted Q4 2024 revenue of $91.3M, 98.3% utilization, strong liquidity and a $870M fixed contract backlog, while highlighting new charter swaps and a focus on filling charter coverage gaps.
- **2024 Q3:** KNOT Offshore posted $76.3M revenue, $17.2M operating income and a net loss, while highlighting strong liquidity, ongoing charter wins and a positive market outlook despite higher OpEx and pending insurance recovery.
- **2024 Q2:** KNOP Q2 2024 call highlighted a positive outlook, fleet swap, new contracts in Brazil, modest operating results and ongoing financing and utilization focus.

## Theme arcs

- **Management tone** (deteriorating): Δ mgmt=-0.60

## Fear persistence

- **financing** [resolved]: 2024 Q2
- **asset utilization** [resolved]: 2024 Q2
- **geographic demand** [resolved]: 2024 Q2
- **cost inflation** [resolved]: 2024 Q2
- **contract pricing** [resolved]: 2024 Q2
- **interest rate risk** [resolved]: 2024 Q2
- **debt maturity** [resolved]: 2024 Q2
- **liquidity** [resolved]: 2024 Q2
- **insurance recovery uncertainty** [resolved]: 2024 Q3
- **debt maturity concentration** [resolved]: 2024 Q3

## Guidance path

2024 Q2:maintained → 2024 Q3:maintained → 2024 Q4:maintained → 2025 Q1:maintained → 2025 Q2:vague → 2025 Q3:vague → 2025 Q4:vague → 2026 Q1:vague

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Research context only. Not personalized investment advice.

API: `GET /bff/api/bigfive/earnings-intel/KNOP`