Revenue was $38.7 million, compared to $38.4 million due to increases in revenue at the Midwest, Brownsville and Southeast terminals of approximately $0.5 million, $1.8 million and $0.3 million, respectively, offset by decreases in revenue at the Gulf Coast and River terminals of approximately $1.2 million and $1.1 million, respectively.

Quarterly net earnings was $8.2 million, compared to $11.7 million and net earnings per limited partner unit – basic was $0.47 per unit compared to $0.71 per unit due principally to the changes in quarterly operating income discussed above.

“Operating income, net earnings and distributable cash flow were all in-line with our expectations for the quarter,” said Fred Boutin, chief financial officer of TransMontaigne’s general partner.

“Our distribution cushion was 11% even after the $1.3 million that was distributed in connection with the 1,667,500 units issued subsequent to the end of the quarter and raising the quarterly distribution from 64 cents to 65 cents per unit,” he added.

Direct operating costs and expenses were $17.3 million compared to $16.2 million due to increases in direct operating costs and expenses at the Midwest and Brownsville terminals of approximately $0.4 million and $1.5 million, respectively, offset by decreases in direct operating costs and expenses at the Gulf Coast, River and Southeast terminals of approximately $0.4 million, $0.2 million and $0.2 million, respectively.

TransMontaigne Partners L.P. is a terminaling and transportation company based in Denver, Colorado with operations primarily in the United States along the Gulf Coast, in the Midwest, in Houston and Brownsville, Texas, along the Mississippi and Ohio Rivers, and in the Southeast.

It provides integrated terminaling, storage, transportation and related services for customers engaged in the distribution and marketing of light refined petroleum products, heavy refined petroleum products, crude oil, chemicals, fertilizers and other liquid products.

Light refined products include gasolines, diesel fuels, heating oil and jet fuels; heavy refined products include residual fuel oils and asphalt.

TransMontaigne does not purchase or market products that its handles or transports.

———————————————-

Access operational and manager-level conrtact details of TransMontaigne’s storage facilities:

Rogers – Arkansas, Vernon – Missouri , Fort Lauderdale, Port Ave. – Tampa, Eisenhower – Fort Lauderdale, Dock St. – Tampa, Cape Carnival, Jacksonville, Miami Beach, Clubbs – Pensacola, Barrancas – Pensacola