USD Partners LP (USDP)
USD Partners LP specializes in acquiring, developing, and operating vital midstream infrastructure assets and comprehensive logistics solutions. The partnership's services support the movement of crude oil, biofuels, and other energy-related products across both the United States and Canada. Its operations are divided into two main divisions: Terminalling Services and Fleet Services. The Terminalling Services segment manages a portfolio of key facilities: The Hardisty terminal serves as a crucial origination point, loading various types of Canadian crude oil onto railcars for transport to end markets. In Stroud, Oklahoma, the Stroud terminal acts as a destination hub, enabling the seamless transfer of crude oil from rail to pipelines. The Casper terminal in Wyoming offers comprehensive services for crude oil, including storage, blending, and railcar loading. The West Colton Terminal is a high-capacity destination facility capable of handling unit trains, where roughly 13,000 barrels per day of ethanol and renewable diesel are transloaded from incoming rail shipments to trucks for local distribution. The Fleet Services segment focuses on supplying leased railcars and providing related support services for the transportation of liquid hydrocarbons. As of December 31, 2021, this segment maintained a fleet of 200 railcars. USD Partners GP LLC functions as the general partner for the company. Founded in 2014, the partnership is headquartered in Houston, Texas.
Sector: Railroad Switching & Terminal Establishments
Industry: Railroads
USD Partners LP
OTC:USDPIndustrials · Railroads
Mkt Cap-
Float32.61M
O/S33.77M
Inst Own-
SI0.1%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$35.83M
Net Income-$52.34M
Total Assets$52M
Free Cash Flow$1.98M
Debt & Equity
Debt 518%
Total Debt$181.99M
Total Equity-$146.85M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in USDP's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$52M
Liabilities$198.85M
Accounts Receivable$1.63M
Accounts Payable$5.08M
Inventory$0
PP&E (Net)$0
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Revenue | $35.83M | $62.86M | $111.66M | $122.1M | $120.04M | $113.66M | $119.23M | $111.34M | $111.13M | $81.76M | $36.1M | $26.3M | $24.88M |
| YoY Growth | -43.0% | -43.7% | -8.6% | 1.7% | 5.6% | -4.7% | 7.1% | 0.2% | 35.9% | 126.5% | 37.2% | 5.7% | - |
| Cost of Revenue | $24.91M | $39.16M | $73.94M | $80.09M | $75.86M | $74.18M | $71.36M | $65.14M | $63.06M | $44.87M | $24.64M | $20.37M | $18.5M |
| Gross Profit | $10.92M | $23.69M | $37.71M | $42M | $44.18M | $39.48M | $47.87M | $46.19M | $48.07M | $36.9M | $11.46M | $5.93M | $6.37M |
| Gross Margin | 30.5% | 37.7% | 33.8% | 34.4% | 36.8% | 34.7% | 40.2% | 41.5% | 43.3% | 45.1% | 31.7% | 22.5% | 25.6% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $14.53M | $19.63M | $25.79M | $17.2M | $18.26M | $18.84M | $18.42M | $15.08M | $15.43M | $14.44M | $10.81M | $4.46M | $3.24M |
| Other | $0 | $0 | $90K | $31K | $0 | $0 | -$16K | $0 | $10K | $0 | $0 | -$39K | $0 |
| Total Operating Expenses | $14.53M | $19.63M | $25.79M | $17.2M | $18.26M | $18.84M | $18.42M | $15.08M | $15.43M | $14.44M | $10.81M | $4.46M | $3.24M |
| Operating Income (EBIT) | -$3.61M | $4.06M | $12.02M | $24.8M | $26.83M | $20.63M | $29.45M | $31.11M | $32.64M | $22.45M | $647K | $1.47M | $3.13M |
| Operating Margin | -10.1% | 6.5% | 10.8% | 20.3% | 22.3% | 18.2% | 24.7% | 27.9% | 29.4% | 27.5% | 1.8% | 5.6% | 12.6% |
| Interest Expense | $34.78M | $22.13M | $10.67M | $6.99M | $8.93M | $12.01M | $11.36M | $9.93M | $0 | $0 | $0 | $1.82M | $0 |
| Interest Income | $0 | $0 | $0 | $0 | $10.08M | $0 | $0 | $0 | $9.85M | $4.43M | $4.83M | $0 | $2.05M |
| Other Income (Expense) | -$48.53M | $14.77M | -$308K | -$2.12M | -$12.19M | -$13.46M | -$10.99M | -$10.08M | -$9.23M | $994K | -$8.14M | -$3.28M | -$2.05M |
| Income Before Tax (EBT) | -$52.14M | $18.83M | -$59.99M | $22.16M | -$19.86M | $7.18M | $18.46M | $21.02M | $23.41M | $23.45M | -$7.49M | -$1.81M | $1.08M |
| Income Tax Expense | $203K | $1.06M | $1.29M | -$700K | -$41K | $662K | -$2.67M | -$1.19M | -$759K | $5.75M | $186K | $30K | $26K |
| Net Income | -$52.34M | $17.77M | -$61.29M | $22.83M | -$19.81M | $6.52M | $21.13M | $22.21M | $24.17M | $17.69M | -$7.68M | -$4.63M | $460.58M |
| Net Income Margin | -146.1% | 28.3% | -54.9% | 18.7% | -16.5% | 5.7% | 17.7% | 19.9% | 21.8% | 21.6% | -21.3% | -17.6% | 1851.6% |
| Supplementary Data | |||||||||||||
| EPS | -1.55 | 0.53 | -1.92 | 0.77 | -0.74 | 0.25 | 0.81 | 0.84 | 1.07 | 0.78 | -0.37 | -0.22 | 21.83 |
| Diluted EPS | -1.55 | 0.53 | -1.84 | 0.77 | -0.74 | 0.25 | 0.81 | 0.84 | 1.07 | 0.78 | -0.37 | -0.22 | 21.83 |
| Weighted Average OS | 33.77M | 33.72M | 31.92M | 27.18M | 26.80M | 26.46M | 26.06M | 24.49M | 22.70M | 21.62M | 20.90M | 20.68M | 20.68M |
| EBITDA | -$14.95M | $47.17M | -$29.68M | $52.69M | $12.49M | $38.78M | $50.92M | $51.46M | $52.84M | $33.93M | -$36K | $1.93M | $3.62M |
| EBITDA Margin | -41.7% | 75.0% | -26.6% | 43.2% | 10.4% | 34.1% | 42.7% | 46.2% | 47.6% | 41.5% | -0.1% | 7.3% | 14.6% |
Balance Sheet
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Assets | |||||||||||||
| Current Assets | |||||||||||||
| Cash and Cash Equivalents | $8.23M | $10.42M | $2.53M | $3.75M | $3.04M | $3.08M | $6.44M | $7.87M | $11.71M | $10.5M | $40.25M | $6.15M | $4.47M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $8.23M | $10.42M | $2.53M | $3.75M | $3.04M | $3.08M | $6.44M | $7.87M | $11.71M | $10.5M | $40.25M | $6.15M | $4.47M |
| Accounts Receivable | $1.63M | $1.57M | $2.58M | $8.81M | $6.51M | $7.09M | $5.76M | $4.58M | $4.54M | $6.22M | $6.83M | $1.99M | $1.02M |
| Inventory | $0 | $1.56M | $0 | $3.03M | $0 | $0 | $8.06M | $14.87M | $15.76M | $14.83M | $0 | $2.96M | $1.72M |
| Other Current Assets | $39.99M | $16.57M | $5M | $129K | $9.75M | $8.9M | $6.66M | $6.04M | $8M | $8.55M | $12.61M | $32.05M | $11.99M |
| Total Current Assets | $51.97M | $30.11M | $13.29M | $26.84M | $21.25M | $20.99M | $20.97M | $27.6M | $34.56M | $35.46M | $63.94M | $41.18M | $19.05M |
| Long-Term Assets | |||||||||||||
| Property, Plant & Equipment Net | $0 | $57.13M | $108.4M | $138.76M | $149.47M | $159.54M | $145.31M | $146.57M | $125.7M | $133.01M | $84.06M | $61.36M | $7.88M |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $33.59M | $33.59M | $33.59M | $33.59M | $33.97M | $0 | $0 | $0 |
| Intangible Assets | $0 | $49K | $3.53M | $48.89M | $61.49M | $74.1M | $86.7M | $99.31M | $111.92M | $124.58M | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $2M | -$40K | -$458K | -$360K | -$614K | -$823K | -$749K | $0 | $0 | $0 |
| Deferred Tax Assets | $33K | $0 | $0 | -$2M | $40K | $458K | $360K | $614K | $823K | $749K | $0 | $0 | $0 |
| Other Long-Term Assets | $0 | $1.17M | $1.56M | $7.11M | $5.33M | $1.35M | $726K | $319K | $192K | $1.38M | $5.66M | $4.73M | $32M |
| Total Long-Term Assets | $33K | $58.34M | $113.48M | $194.75M | $216.29M | $268.58M | $266.33M | $279.79M | $271.4M | $292.94M | $89.72M | $66.09M | $39.88M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $52M | $88.46M | $126.78M | $221.59M | $237.55M | $289.57M | $287.3M | $307.39M | $305.97M | $328.4M | $153.65M | $107.27M | $58.93M |
| Liabilities | |||||||||||||
| Current Liabilities | |||||||||||||
| Accounts Payable | $5.08M | $2.33M | $4.54M | $21.84M | $2.25M | $3.55M | $3.92M | $2.91M | $2.44M | $4.32M | $4.37M | $7.07M | $718K |
| Short-Term Debt | $181.99M | $167.19M | $214.79M | $4.25M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $50.99M | $266K |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $2.18M | $3.69M | $6.89M | $6.78M | $7.59M | $4.81M | $27.13M | $31.22M | $27.64M | $20.8M | $1.56M | $1.65M |
| Other Current Liabilities | $11.75M | $6.01M | $7.21M | $9.08M | $9.51M | $7.8M | $2.8M | $2.34M | $3.51M | $2.91M | $877K | $9.49M | $11.96M |
| Total Current Liabilities | $198.82M | $177.71M | $230.94M | $27.96M | $18.54M | $18.94M | $11.53M | $32.38M | $37.17M | $34.88M | $26.04M | $69.12M | $14.59M |
| Long-Term Liabilities | |||||||||||||
| Long-Term Debt | $0 | $0 | $0 | $167.37M | $195.48M | $217.65M | $205.58M | $200.63M | $220.89M | $239.44M | $78.46M | $30M | $30M |
| Long-Term Unearned Revenue | $0 | $0 | $3.94M | $0 | $0 | $0 | $0 | $0 | $264K | $3.56M | $5.59M | $5.55M | $957K |
| Long-Term Deferred Tax Liabilities | $33K | $0 | $25K | $0 | $40K | $458K | $360K | $614K | $823K | $749K | -$83.29M | $30M | $30M |
| Other Long-Term Liabilities | $0 | $3.38M | $7.56M | $9.59M | $12.87M | $4.54M | $356K | $1.09M | $0 | $0 | $2.9M | $0 | $0 |
| Total Long-Term Liabilities | $33K | $3.38M | $8.24M | $174.55M | $212.74M | $229.57M | $206.3M | $201.72M | $221.98M | $243.76M | $86.94M | $35.55M | $30.96M |
| Other Liabilities | $0 | $1 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $198.85M | $181.09M | $239.18M | $202.5M | $231.28M | $248.51M | $217.83M | $234.09M | $259.15M | $278.64M | $112.98M | $104.67M | $45.55M |
| Stockholders' Equity | |||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $0 | $0 | $0 | $16.36M | $3.83M | $38.42M | $69.2M | $82.88M | $47.86M | $49.68M | $38.2M | $4M | $13.39M |
| Retained Earnings | $0 | $0 | -$59.92M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $4M | $13.39M |
| Comprehensive Income & Other | -$6.86M | -$2.96M | -$4.14M | $703K | $547K | -$127K | -$3.01M | $1.64M | -$1.16M | -$138K | -$105K | -$1.4M | -$5K |
| Other Stockholders' Equity | -$146.85M | -$92.63M | -$52.49M | -$15.65M | -$3.28M | -$38.54M | -$72.21M | -$9.58M | -$1.05M | $82K | $2.47M | -$5.4M | -$13.4M |
| Total Equity | -$146.85M | -$92.63M | -$112.4M | $703K | $547K | -$127K | -$3.01M | $73.3M | $46.82M | $49.76M | $40.67M | $2.6M | $13.39M |
| Minority Interest | $0 | $0 | $0 | $5.68M | $1.89M | $2.77M | $3.27M | $180K | $111K | $220K | $12K | $0 | $0 |
| Total Liabilities and Equity | $52M | $88.46M | $126.78M | $203.21M | $231.83M | $248.38M | $214.82M | $307.39M | $305.97M | $328.4M | $153.65M | $107.27M | $58.93M |
| Supplementary Data | |||||||||||||
| Total Debt | $181.99M | $167.19M | $215.48M | $171.47M | $205.16M | $229.69M | $205.58M | $200.63M | $220.89M | $239.44M | $81.36M | $80.99M | $30.27M |
| Net Debt | $173.76M | $156.77M | $212.95M | $167.72M | $202.12M | $226.6M | $199.14M | $192.75M | $209.19M | $228.94M | $41.11M | $74.84M | $25.8M |
Cash Flow Statement
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Operating Activities | |||||||||||||
| Net Income | -$52.34M | $17.77M | -$61.29M | $21.46M | -$19.81M | $6.52M | $21.13M | $22.21M | $24.17M | $17.69M | -$7.68M | -$1.84M | $1.05M |
| Depreciation & Amortization | $2.4M | $6.2M | $19.64M | $23.17M | $22.48M | $20.66M | $21.1M | $22.13M | $23.09M | $6.11M | $2.63M | $502K | $490K |
| Deferred Income Tax | $0 | -$25K | $90K | -$316K | -$973K | $79K | -$3.97M | $983K | $46K | $814K | $232K | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $4.84M | $5.7M | $6.56M | $6.07M | $6.36M | $4.14M | $4.07M | $2.46M | $550K | $0 | $0 |
| Changes in Working Capital: | |||||||||||||
| Accounts Receivable | -$156K | $131K | $6.25M | -$2.11M | $645K | -$1.23M | $822K | $30K | $1.83M | -$702K | -$4M | -$1M | -$1.02M |
| Inventory | $0 | $0 | $0 | -$3.16M | -$3.7M | -$1.66M | -$7K | $4.4M | $30K | -$572K | -$4.51M | -$4.65M | -$2.5M |
| Accounts Payable | $2.81M | -$1.27M | -$4.36M | $6.71M | -$1.04M | -$604K | -$639K | $397K | -$1.92M | -$336K | -$2.37M | $6.59M | $1.89M |
| Other Working Capital | -$5.58M | -$2.04M | -$4.29M | $869K | $5.22M | $6.07M | -$196K | -$7.2M | -$1.65M | $10.96M | $11.01M | $8.22M | $668K |
| Total Working Capital Change | -$2.92M | -$3.17M | -$2.39M | $2.31M | $1.12M | $2.57M | -$20K | -$2.37M | -$1.71M | $9.35M | $124K | $9.16M | -$963K |
| Other Non-Cash Items | $54.84M | -$30.85M | $76.34M | -$5.19M | $36.44M | $2.55M | $527K | $629K | $3.4M | -$219K | $1.06M | $4.83M | $53.55M |
| Net Cash from Operating | $1.98M | -$10.07M | $37.24M | $47.13M | $45.81M | $38.44M | $45.13M | $47.73M | $53.08M | $36.2M | -$3.08M | $12.65M | $54.13M |
| Investing Activities | |||||||||||||
| Capital Expenditures | $0 | -$703K | -$468K | -$2.39M | -$484K | -$8.44M | -$8.82M | -$27.58M | -$474K | -$1.67M | -$33.74M | -$56.11M | -$773K |
| Acquisitions | $20.31M | $63.76M | -$75M | $0 | $0 | $0 | $0 | $0 | $0 | -$210.44M | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$1.17M | -$468K | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $211.61M | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $1.75M | $0 | $0 | $0 | $236K | $0 | $381K | -$211.61M | $29.47M | $10M | $436.76M |
| Net Cash from Investing | $20.31M | $63.06M | -$73.72M | -$2.39M | -$484K | -$8.44M | -$8.58M | -$27.58M | -$93K | -$213.28M | -$4.73M | -$46.11M | $435.99M |
| Financing Activities | |||||||||||||
| Debt Repaid | $23.72M | - | -$45.6M | $43.49M | $24.38M | -$11M | -$7M | $21.34M | $21.56M | -$172.51M | -$5.62M | - | $15.67M |
| Common Stock Issuance | $0 | $0 | $1.1M | $860K | $1.79M | $1.83M | $0 | $33.7M | $0 | $335K | $137.5M | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | -$1.1M | -$860K | -$1.79M | -$1.83M | -$1.35M | $0 | -$77K | $203M | $0 | $0 | $0 |
| Dividends Paid | $0 | -$2.15M | -$15.74M | -$13.31M | -$20.2M | -$41.56M | -$39.63M | -$35.08M | -$29.66M | -$24.03M | -$107.83M | -$7.55M | -$8.9M |
| Other Financing Activities | -$42K | -$46.24M | -$1.11M | $12.04M | -$1.79M | -$1.85M | -$4.26M | -$1.07M | -$77K | -$854K | $5.19M | -$8.5M | -$464.33M |
| Net Cash from Financing | -$23.76M | -$48.4M | $28.76M | -$44.76M | -$44.99M | -$32.41M | -$36.89M | -$23.79M | -$51.3M | $147.96M | $40.47M | $36.64M | -$488.63M |
| Forex Effect | -$725K | $47K | $784K | -$45K | -$28K | $705K | -$1.06M | -$186K | -$480K | -$627K | $1.44M | -$1.5M | -$5K |
| Net Change in Cash | -$2.19M | $4.64M | -$6.94M | -$71K | $310K | -$1.7M | -$1.41M | -$3.83M | $1.21M | -$29.75M | $34.1M | $1.68M | $1.48M |
| Supplementary Data | |||||||||||||
| Operating Cash Flow | $1.98M | -$10.07M | $37.24M | $47.13M | $45.81M | $38.44M | $45.13M | $47.73M | $53.08M | $36.2M | -$3.08M | $12.65M | $54.13M |
| Capital Expenditure | $0 | -$648K | -$468K | -$2.39M | -$484K | -$8.44M | -$8.82M | -$27.58M | -$474K | -$1.67M | -$33.74M | -$56.11M | -$773K |
| Free Cash Flow | $1.98M | -$10.72M | $36.77M | $44.74M | $45.33M | $30M | $36.31M | $20.14M | $52.6M | $34.53M | -$36.82M | -$43.46M | $53.36M |
| Cash at Beginning | $10.42M | $5.78M | $12.72M | $10.99M | $10.68M | $12.38M | $13.79M | $11.71M | $10.5M | $40.25M | $6.15M | $4.47M | $2.99M |
| Cash at End | $8.23M | $10.42M | $5.78M | $10.92M | $10.99M | $10.68M | $12.38M | $7.87M | $11.71M | $10.5M | $40.25M | $6.15M | $4.47M |