Blueknight Announces Fourth Quarter and Full Year 2021 Results

Highlights

TULSA, Okla., March 08, 2022 (GLOBE NEWSWIRE) -- Blueknight Energy Partners, L.P. (“Blueknight” or the “Partnership”) (Nasdaq: BKEP and BKEPP) today reported its financial results for the fourth quarter and full year ended December 31, 2021. Income from continuing operations was $8.9 million in the fourth quarter of 2021, compared to $8.4 million for the same period in 2020. Adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”) from continuing operations was $13.9 million in the fourth quarter of 2021 compared to $13.6 million for the same period in 2020. 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.