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TransMontaigne Partners L.P.
TransMontaigne Partners Announces Third Quarter 2017 Results



November 13, 2017

Highllights

  • Net earnings for the third quarter of 2017 totaled $11.0 million, compared to $11.9 million in the prior year third quarter
  • Consolidated EBITDA for the third quarter of 2017 totaled $25.4 million, compared to $23.5 million in the prior year third quarter
  • Distributable cash flow for the third quarter of 2017 totaled $21.6 million, compared to $19.5 million in the prior year third quarter
  • Distribution coverage for the third quarter of 2017 was 1.39x; leverage as of September 30, 2017 was 2.82x
  • Increased the quarterly cash distribution for the eighth consecutive quarter; 7.9% increase over prior year quarterly distribution
  • Entered into agreement to acquire two terminal facilities with approximately 5.4 million barrels of combined storage capacity on the U.S. west coast for $275 million

TransMontaigne Partners L.P. (NYSE:TLP) (the Partnership, we, us, our) announced third quarter 2017 financial and operating results.

"Our business continued to perform extremely well during the third quarter of 2017, achieving another quarter of record revenue and attractive distribution coverage of approximately 1.4 times," said Fred Boutin, Chief Executive Officer of TransMontaigne Partners. "Our fully completed 2 million barrel Collins Phase I expansion project, along with the strength of our base business, supported an increase in our quarterly distribution of 1.5 cents for the third quarter, representing growth of 2.0% over the previous quarter and 7.9% over the third quarter of last year. We continue to execute well, which coupled with our conservative business model, provides a platform for growth over the long-term."

Click here to read the full press release.

For more information:

Organization:
TransMontaigne Partners L.P.
http://www.transmontaignepartners.com/


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