USD Partners LP Q3 net loss $69.4M on impairment; DCF down 11%, distribution unchanged

USD Partners LP

Net loss of $69.4M driven by non-cash impairment of intangible/long-lived assets at Casper terminal.
Adjusted EBITDA of $12.3M; Distributable Cash Flow of $9.6M, down 11% YoY.
Revenue declined due to expiration of contracts at Hardisty (26% capacity) and Stroud terminals in June 2022.
Declared quarterly distribution of $0.1235/unit (annualized $0.494), unchanged from prior quarter.
Credit facility expires Nov 2023; post-quarter settled interest rate swap for $9M, entered new 5-year SOFR swap at 3.956%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

USD Partners LP reported financial results for the three and nine months ended September 30, 2022.

Period: the three and nine months ended September 30, 2022
Result: reported results

Exact text from the filing

On November 1, 2022, USD Partners LP (the “Partnership”) issued a press release announcing its operating and financial results for the three and nine months ended September 30, 2022.

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Source: SEC EDGAR

accession 0001610682-22-000046

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