USD Partners LP ( (USDP) ) has released its Q4 earnings. Here is a breakdown of the information USD Partners LP presented to its investors.
USD Partners LP is a fee-based master limited partnership specializing in midstream infrastructure and logistics solutions for crude oil and other energy-related products, primarily operating through take-or-pay contracts with high credit quality customers. The company recently released its annual earnings report for the period ending December 31, 2024, highlighting significant financial challenges and strategic shifts. Key financial metrics from the report indicate a substantial net loss of $52.3 million for 2024, a stark contrast to the previous year’s net income of $17.8 million. This downturn is attributed to decreased revenues, increased impairment charges, and rising interest expenses. Additionally, USD Partners LP has been delisted from the New York Stock Exchange due to falling below the required market capitalization threshold, and its common units are now trading on the OTC Pink Market. Looking ahead, the company faces significant uncertainty regarding its ability to continue as a going concern, with plans to sell its Hardisty Rail Terminal and potentially wind down operations.