USDP Q2: Net income $3.8M, DCF $10.2M; closed Hardisty South acquisition; distribution held at $0.1235/unit

USD Partners LP

Closed Hardisty South acquisition for $75M cash + 5.75M common units; eliminated IDRs and economic GP interest.
Net income $3.8M; Adjusted EBITDA $11.6M, DCF $10.2M; Adjusted EBITDA and DCF down 29% YoY.
Quarterly distribution $0.1235/unit ($0.494/yr) unchanged; payable Aug 12 to record Aug 3.
~26% of Hardisty capacity and Stroud contracts expired end-June; management expects renewals in H2 2022.
Liquidity: $4.3M cash, $43M undrawn on $275M credit facility; new $175M SOFR interest rate swap at 2.686%.

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