secwatch.observer — SEC 8-K summary
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Issuer:     USD Partners LP (USDP)
CIK:        0001610682
Form:       8-K
Filed at:   2022-11-01T23:59:59+00:00
Accession:  0001610682-22-000046
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1610682/000161068222000046/0001610682-22-000046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1610682/000161068222000046/usdp-20221101.htm
  HTML page:      https://secwatch.observer/filing/0001610682-22-000046

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