earnings
confidence high
sentiment neutral
materiality 0.60
USD Partners LP Q3 net income $3.8M; Adjusted EBITDA $12.3M; distribution raised 2.2%
USD Partners LP
- Net income $3.8M; Adjusted EBITDA $12.3M; Distributable Cash Flow $10.7M.
- Net cash from operations $11.0M, down 34% YoY; revenue fell due to Stroud terminal volume reduction.
- Credit facility amended: maturity extended to Nov 2023, commitments reduced to $275M; $92M available liquidity.
- Quarterly distribution increased to $0.1185/unit ($0.474 annualized), payable Nov 12 to holders of record Nov 3.
- DRU and Port Arthur Terminal in start-up; throughput consistent with contractual obligations.