Seapeak LLC
For the period ended Jun 30, 2025. Filed Aug 14, 2025.
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Jun 30, 2025 · Filed Aug 14, 2025
SEAL-PA$25.20+0.1%Stored close · as of Nov 6, 2026
Contents
Unaudited Consolidated Statements of Income for the three and six months ended June 30, 2025 and 2024
ITEM 1 – FINANCIAL STATEMENTS
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| $ | $ | $ | $ | |
| Voyage revenues (notes 6 and 10a) | 158,638 | 175,502 | 319,068 | 354,619 |
| Voyage expenses | (1,671) | (2,102) | (7,068) | (5,487) |
| Vessel operating expenses | (55,642) | (57,159) | (109,999) | (112,994) |
| Time-charter hire expenses | — | (2,128) | — | (4,301) |
| Depreciation and amortization | (34,406) | (35,210) | (67,927) | (70,203) |
| General and administrative expenses | (7,260) | (6,877) | (14,404) | (15,452) |
| Gain on sales of vessels (note 14a) | — | 267 | — | 971 |
| Restructuring charges (note 16) | (19,264) | — | (19,264) | — |
| Income from vessel operations | 40,395 | 72,293 | 100,406 | 147,153 |
| Equity income (notes 3b, 7 and 10a) | 37,981 | 34,564 | 55,655 | 64,502 |
| Interest expense | (42,326) | (45,516) | (84,772) | (89,204) |
| Interest income (note 7) | 3,082 | 3,542 | 6,252 | 6,866 |
| Realized and unrealized (loss) gain on non-designated derivative instruments (note 11) | (8,207) | 8,167 | (25,215) | 31,530 |
| Foreign currency exchange (loss) gain (notes 8 and 11) | (1,753) | 591 | (2,813) | 1,304 |
| Other expense (notes 3b and 5) | (1,228) | (2,715) | (13,989) | (9,542) |
| Net income before income tax (expense) recovery | 27,944 | 70,926 | 35,524 | 152,609 |
| Income tax (expense) recovery (note 9) | (2,040) | 497 | (1,677) | 679 |
| Net income | 25,904 | 71,423 | 33,847 | 153,288 |
| Non-controlling interest in net income | 2,382 | 2,507 | 1,140 | 2,386 |
| Preferred unitholders' interest in net income | 6,279 | 6,425 | 12,558 | 12,850 |
| Common unitholder's interest in net income | 17,243 | 62,491 | 20,149 | 138,052 |
Related party transactions (note 10)
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