---
schema_version: "secwatch.filing_event.v1"
accession: "0001610682-23-000027"
form_type: "8-K"
ticker: "USDP"
cik: "0001610682"
company_name: "USD Partners LP"
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T01:06:22.395452+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# USDP Q1 net income $2M, DCF negative; distribution suspended, Casper terminal sold for $33M

## Summary
- Net income of $2.0M, down from $7.5M YoY; Adjusted EBITDA $3.3M (down 67%); DCF negative ($1.6M).
- Closed sale of Casper Terminal for $33M cash on March 31, 2023; used $19.1M to repay credit facility.
- Board suspended quarterly distribution to preserve liquidity; exploring strategic alternatives.
- Senior secured credit facility matures Nov 2, 2023; had $195.9M outstanding as of April 30, 2023.
- Revenue decline driven by reduced Hardisty Terminal contracted capacity and Stroud contract expiration.

## SEC filing metadata
- accession: 0001610682-23-000027
- form_type: 8-K
- ticker: USDP
- cik: 0001610682
- company_name: USD Partners LP
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1610682/000161068223000027/0001610682-23-000027-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1610682/000161068223000027/usdp-20230503.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001610682-23-000027
- JSON: https://secwatch.observer/filing/0001610682-23-000027.json
- Plain text: https://secwatch.observer/filing/0001610682-23-000027.txt

## Key facts
- Earnings Releases
  USD Partners LP reported financial results for three months ended March 31, 2023.
  - Period: three months ended March 31, 2023
  - Result: reported results
  source text: On May 3, 2023, USD Partners LP (the “Partnership”) issued a press release announcing its operating and financial results for the three months ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1610682/000161068223000027/0001610682-23-000027-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.