Blueknight Announces First Quarter 2022 Results

Highlights

TULSA, Okla., May 04, 2022 (GLOBE NEWSWIRE) -- Blueknight Energy Partners, L.P. (“Blueknight” or the “Partnership”) (Nasdaq: BKEP and BKEPP) today reported its financial results for the first quarter ended March 31, 2022. Income from continuing operations was $6.6 million in the first quarter of 2022, compared to $6.1 million for the same period in 2021. Adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”) from continuing operations was $11.5 million in the first quarter of 2022 compared to $11.4 million for the same period in 2021. The year-over-year increase was due to higher asphalt terminalling services operating margin, excluding depreciation and amortization, and continued improvements in general and administrative expense after excluding non-recurring legal and professional fees.