BlueKnight Energy Partners (BKEP) Misses Q4 EPS by 4c, Revenues Miss

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Blueknight Provides 2020 Guidance and Fourth Quarter and Full Year 2019 Results

March 25, 2020 4:15 PM EDT

Highlights

Fourth quarter net income of $4.3 million, operating income of $7.9 million, and Adjusted EBITDA of $16.0 million; full year net income of $18.4 million, operating income of $34.2 million, and Adjusted EBITDA of $63.6 million

Exceeded 2019 financial targets with fourth quarter and full year distribution coverage of 1.36 times and 1.20 times, respectively, and leverage ratio of 4.05 times

Balance sheet strengthened through strong business performance, cost efficiencies and disciplined capital management to position Partnership to settle Ergon put for $12.2 million on January 3, 2020

Business and cash flow uniquely positioned and expected to be stable in 2020; guiding to Adjusted EBITDA in-line with 2019, distribution coverage of... More