TMPG2

Contact:

    

Frederick W. Boutin, CEO

 

 

 

Gregory J. Pound, COO

 

 

 

Robert T. Fuller, CFO

 

 

 

303-626-8200

 

 

TransMontaigne Partners L.P. Announces Financial Results

For The Three Months And The Year Ended December 31, 2015

And The Filing Of Its Annual Report On Form 10-K

 

March 10, 2016

Immediate Release

 

Denver, ColoradoTransMontaigne Partners L.P. (NYSE:TLP) today announced its financial results for the three months and the year ended December 31, 2015.

Financial Results

An overview of the financial performance for the year ended December 31, 2015 compared to the year ended December 31, 2014, includes:

·

Distributable cash flow for the year ended December 31,  2015 was $70.7 million compared to $65.7 million for the year ended December 31, 2014. 

o

The distribution declared per limited partner unit was $2.665 per unit for the year ended December 31, 2015 compared to $2.655 per unit for the year ended December 31, 2014.

o

We paid aggregate distributions of $50.7 million for the year ended December 31, 2015, resulting in an annual distribution coverage ratio of 1.39x.

·

Consolidated EBITDA for the year ended December 31,  2015 was $89.6 million compared to $74.8 million for the year ended December 31, 2014.

·

Operating income for the year ended December 31, 2015 was $49.9 million compared to $38.9 million for the year ended December 31, 2014, principally due to the following:

o

Revenue was $152.5 million compared to $150.1 million due to increases in revenue at the Brownsville and River terminals of approximately $4.3 million and $0.9 million, respectively, offset by decreases in revenue at the Gulf Coast, Midwest and Southeast terminals of approximately $1.5 million, $0.4 million and $0.8 million, respectively.

o

Direct operating costs and expenses were $64.0 million compared to $66.2 million due to decreases in direct operating costs and expenses at the Gulf Coast, Midwest, Brownsville and River terminals of approximately $0.3 million, $0.1 million, $2.1 million and $0.9 million, respectively, offset by an increase in direct operating costs and expenses at the Southeast terminals of approximately $1.2 million. 

o

An increase in depreciation and amortization expenses of approximately $1.1 million.

o

An increase in earnings from investments in unconsolidated affiliates of $7.5 million, which was primarily attributable to the BOSTCO terminal being fully operational throughout 2015.

·

Annual net earnings for the year ended December 31, 2015 were $41.7 million compared to $32.5 million for the year ended December 31, 2014, principally due to the changes in annual operating income discussed above, offset by an increase in interest expense of approximately $1.9 million.

1670 Broadway ●  Suite 3100 ●  Denver, CO 80202 ●  303-626-8200 (phone) 303-626-8228 (fax)

Mailing Address:  ●  P. O. Box 5660 Denver, CO 80217-5660

www.transmontaignepartners.com

 

1


The following information was filed by Transmontaigne Partners L.P. (TLP) on Thursday, March 10, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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