Seapeak LLC
For the period ended Sep 30, 2025. Filed Nov 13, 2025.
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What a company based outside the US has published at home or sent to its shareholders. It is how many foreign companies share results and news between annual reports.
Sep 30, 2025 · Filed Nov 13, 2025
SEAL-PA$25.20+0.1%Stored close · as of Nov 6, 2026
Contents
Unaudited Consolidated Statements of (Loss) Income for the three and nine months ended September 30, 2025 and 2024
ITEM 1 – FINANCIAL STATEMENTS
UNAUDITED CONSOLIDATED STATEMENTS OF (LOSS) INCOME
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| $ | $ | $ | $ | |
| Voyage revenues (notes 6 and 10a) | 159,475 | 176,333 | 478,543 | 530,952 |
| Voyage expenses | (3,194) | (2,842) | (10,262) | (8,329) |
| Vessel operating expenses | (54,860) | (57,618) | (164,859) | (170,612) |
| Time-charter hire expenses | — | (2,108) | — | (6,409) |
| Depreciation and amortization | (33,612) | (35,378) | (101,539) | (105,581) |
| General and administrative expenses | (13,549) | (7,007) | (27,953) | (22,459) |
| (Write-down) and gain on sales of vessels (note 14) | (61,792) | 3,368 | (61,792) | 4,339 |
| Restructuring charges (note 16) | (1,460) | — | (20,724) | — |
| (Loss) income from vessel operations | (8,992) | 74,748 | 91,414 | 221,901 |
| Equity income (notes 3b, 7 and 10a) | 8,907 | 31,362 | 64,562 | 95,864 |
| Interest expense | (41,353) | (44,620) | (126,125) | (133,824) |
| Interest income (note 7) | 3,059 | 3,724 | 9,311 | 10,590 |
| Realized and unrealized (loss) gain on non-designated derivative instruments (note 11) | (1,261) | (28,065) | (26,476) | 3,465 |
| Foreign currency exchange loss (notes 8 and 11) | (924) | (4,789) | (3,737) | (3,485) |
| Other (expense) income (notes 3b and 5) | (7,480) | 5,599 | (21,469) | (3,943) |
| Net (loss) income before income tax recovery (expense) | (48,044) | 37,959 | (12,520) | 190,568 |
| Income tax recovery (expense) (note 9) | 981 | (681) | (696) | (2) |
| Net (loss) income | (47,063) | 37,278 | (13,216) | 190,566 |
| Non-controlling interest in net (loss) income | (17,666) | 2,494 | (16,526) | 4,880 |
| Preferred unitholders' interest in net (loss) income | 6,279 | 6,425 | 18,837 | 19,275 |
| Common unitholder's interest in net (loss) income | (35,676) | 28,359 | (15,527) | 166,411 |
Related party transactions (note 10)
Subsequent events (note 17)
UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| $ | $ | $ | $ | |
| Net (loss) income | (47,063) | 37,278 | (13,216) | 190,566 |
| Other comprehensive loss: | ||||
| Other comprehensive loss before reclassifications | ||||
| Unrealized gain (loss) on qualifying cash flow hedging instruments, net of tax | 385 | (14,620) | (8,014) | 3,214 |
| Amounts reclassified from accumulated other comprehensive income, net of tax | ||||
| To equity income: | ||||
| Realized gain on qualifying cash flow hedging instruments | (2,887) | (4,233) | (8,734) | (12,921) |
| To interest expense: | ||||
| Realized loss on qualifying cash flow hedging instruments (note 11) | 143 | 175 | 482 | 557 |
| Other comprehensive loss | (2,359) | (18,678) | (16,266) | (9,150) |
| Comprehensive (loss) income | (49,422) | 18,600 | (29,482) | 181,416 |
| Non-controlling interest in comprehensive (loss) income | (17,623) | 2,546 | (16,382) | 5,047 |
| Preferred unitholders' interest in comprehensive (loss) income | 6,279 | 6,425 | 18,837 | 19,275 |
| Common unitholder's interest in comprehensive (loss) income | (38,078) | 9,629 | (31,937) | 157,094 |
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