USD Partners LP (USDP) Reports Q1 Revenues Miss

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Go back to USD Partners LP (USDP) Reports Q1 Revenues Miss

USD Partners LP Announces First Quarter 2020 Results

May 6, 2020 4:34 PM EDT

HOUSTON--(BUSINESS WIRE)-- USD Partners LP (NYSE: USDP) (the Partnership) announced today its operating and financial results for the three months ended March 31, 2020. Financial highlights with respect to the first quarter of 2020 include the following:

Generated Net Cash Provided by Operating Activities of $11.7 million, Adjusted EBITDA(1) of $12.3 million and Distributable Cash Flow(1) of $9.9 million Reduced quarterly cash distribution to $0.111 per unit ($0.444 per unit on an annualized basis), representing a 70% decrease from the prior quarters distribution, in order to strengthen the financial position of the Partnership and... More