TransMontaigne Partners L.P. (NYSE:TLP) has announced fourth quarter and full year 2017 financial and operating results, the company said.
Revenue for the fourth quarter of 2017 totaled USD 47.6 million, an increase of USD 5.1 million, or approximately 12%, compared to the USD 42.5 million reported for the fourth quarter of 2016. Consolidated EBITDA totaled USD 27.0 million for the fourth quarter of 2017, representing an increase of USD 1.5 million, or approximately 5.9%, compared to the USD 25.5 million reported for the fourth quarter of 2016.
The improvement compared to the prior year was primarily attributed to our Collins Phase I terminal expansion coming fully on-line in 2017.
An overview of our financial performance for the year ended December 31, 2017 compared to the year ended December 31, 2016, includes:
Operating income for the year ended December 31, 2017 was approximately USD 60.2 million compared to USD 52.7 million for the year ended December 31, 2016. Changes in the primary components of operating income are as follows:
Revenue increased approximately USD 18.4 million to USD 183.3 million due to increases in revenue at the Gulf Coast and Southeast terminals of approximately USD 6.2 million and USD 17.1 million, respectively, partially offset by decreases in revenue at the Midwest, Brownsville and River terminals of approximately USD 0.2 million, USD 4.8 million and USD 1.6 million, respectively. The December 15, 2017 acquisition of the West Coast terminals added approximately USD 1.7 million to revenue.
TransMontaigne Partners L.P. is a terminaling and transportation company based in Denver, Colorado with operations in the United States along the Gulf Coast, in the Midwest, in Houston and Brownsville, Texas, along the Mississippi and Ohio Rivers, in the Southeast and on the West Coast.