BlueKnight Energy Partners (BKEP) Reports Q1 EPS of $1.74
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Blueknight Announces First Quarter 2021 Results
May 4, 2021 4:30 PM EDTHighlights
Net income of $81.7 million, inclusive of a $75.1 million gain from the sales of the crude oil businesses First quarter operating income of $7.2 million, Adjusted EBITDA of $11.4 million and Distributable Cash Flow of $9.0 million from continuing operations, up 10%, 3%, and 11%, respectively, year-over-year Solid first quarter distribution coverage ratio of 1.59 times on common unit distributions and 1.13 times on all distributions Enhanced balance sheet flexibility and liquidity profile with leverage ratio of 2.12 times at quarter-end versus 4.27 times year-over-year Opportunistically repurchased $5.2 million in preferred units, reducing annual distributions by approximately $0.5... More