Blueknight Announces Second Quarter 2022 Results

Highlights

TULSA, Okla., Aug. 03, 2022 (GLOBE NEWSWIRE) -- Blueknight Energy Partners, L.P. (“Blueknight” or the “Partnership”) (Nasdaq: BKEP and BKEPP) today reported its financial results for the second quarter ended June 30, 2022. Income from continuing operations was $6.3 million in the second quarter of 2022, compared to $7.1 million for the same period in 2021. The year-over-year decrease was primarily due to non-recurring legal and professional fees related to the proposed merger with Ergon, Inc. (“Ergon”) and higher depreciation and amortization expense. Adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”) from continuing operations was $12.1 million in the second quarter of 2022 and in-line with the same period in 2021.