TransMontaigne Partners Q2 results

TransMontaigne Partners Q2 results

TransMontaigne Partners L.P. has released details of its second quarter 2017 financial and operating results.

The company earnt $14.5m in Q2 of this year compared to $10.3m in the prior year’s second quarter. The second quarter 2017 consolidated EBITDA sits at $28.8m compared to $23.1m in the prior year second quarter.

Chief Executive Officer of TransMontaigne Partners, Fred Boutin said: “Our business continued to perform extremely well during the second quarter of 2017: achieving another quarter of record revenue, EBITDA and distributable cash flow; and, distribution coverage of more than 1.62 times. During the second quarter we placed into service the final 800,000 barrels of new tank capacity at our 2,000,000 barrel Collins Phase I expansion project. This project, along with the strength of our base business, supported an increase in our distribution of 1.5 cents for the second quarter. Our distribution of 74 cents for the second quarter represented growth of 2.1% over the previous quarter and 7.2% over the second quarter of last year.”

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10th Aug 2017