BlueKnight Energy Partners (BKEP) Posts Q3 EPS of $0.13
BlueKnight Energy Partners (NASDAQ: BKEP) reported Q3 EPS of $0.13, $0.11 better than the analyst estimate of $0.02. Revenue for the quarter came in at $46.94 million versus the consensus estimate of $47.36 million.
Comments from BKEP CEO Mark Hurley:
"We were extremely pleased with our third quarter results. Operating margin, excluding depreciation and amortization increased 16% to $25.8 million for the three months ended September 30, 2016, as compared to $22.3 million for the same quarter in 2015. Adjusted EBITDA and distributable cash flow would have also reflected significant year over year increases if not for approximately $8.3 million of income associated with settlement of litigation that impacted comparable periods in 2015. The increase in operating margin was driven by our asphalt terminalling services segment, which recorded a 23% increase in operating margin due to the acquisition completed earlier in the year, contract escalations and stable customer throughputs. Our crude oil related segments performed in line with the prior year in spite of continuing difficulties in the crude oil production industry."
For earnings history and earnings-related data on BlueKnight Energy Partners (BKEP) click here.