BlueKnight Energy Partners (BKEP) Tops Q1 EPS by 13c
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Blueknight Announces First Quarter 2020 Results
May 6, 2020 4:15 PM EDTHighlights
Net income of $0.0 million, operating income of $2.8 million and Adjusted EBITDA of $15.0 million; results impacted by $5.1 million non-cash impairment primarily due to lower crude oil prices Asphalt terminalling off to a strong start with throughput volumes 17% higher versus prior year Crude oil terminalling benefiting from a deep contango market and current third-party contracted storage reaching its highest level since 2017 at 5.8 million barrels No federal government loan program support required to manage market uncertainty Distributable cash flow up 23% year-over-year and 2020 guidance on track with first quarter distribution coverage of... More