secwatch.observer — SEC 8-K summary
======================================

Issuer:     USD Partners LP (USDP)
CIK:        0001610682
Form:       8-K
Filed at:   2022-08-03T23:59:59+00:00
Accession:  0001610682-22-000035
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1610682/000161068222000035/0001610682-22-000035-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1610682/000161068222000035/usdp-20220803.htm
  HTML page:      https://secwatch.observer/filing/0001610682-22-000035

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer