USD Partners LP (USDP) Q4 2019 Earnings Call Transcript

USD Partners LP (USDP) Q4 2019 Earnings Call Transcript

I will now turn the call over to Jennifer Waller, Associate Director of Financial Reporting and Investor Relations.. With me today are Dan Borgen, our Chief Executive Officer; Adam Altsuler, our Chief Financial Officer; Brad Sanders, our Chief Commercial Officer; and Josh Ruple, our Chief Operating Officer as well as several other members of our senior management team.. Today's call will include discussion of non-GAAP financial measures.. We are currently in discussions with existing and new customers to secure additional long-term take-or-pay agreements to support future expansions of capacity at the DRU, and extending the Partnership's cash flows.. Yesterday afternoon we issued our fourth quarter and full year 2019 results, which included the details of our operating and financial results for the quarter.. For the fourth quarter, we reported net income of $2.1 million, net cash provided by operating activities of $4.3 million, adjusted EBITDA of $12.8 million and distributable cash flow of $9.5 million.. , the Partnership experienced higher revenue during the quarter associated with contracted throughput that exceeded the Partnership's existing capacity at its Hardisty terminal.. Lower revenue at the Partnership's Casper terminal resulting from the conclusion of customer agreements in December 2018 and August 2019 partially offset