American Midstream Partners (AMID) Reports Q3 Loss of $0.48

American Midstream Partners (NYSE: AMID) reported Q3 EPS of ($0.48), versus ($0.58) reported last year. Revenue for the quarter came in at $54.83 million, versus $69.7 million reported last year.

Third quarter highlights:

• Generated Adjusted EBITDA1 of $15.8 million and $45.9 million for the three and nine months ended September 30, 2015, respectively, an increase of approximately 75 percent over prior-year periods;
• Continued to execute on long-term growth strategy with the acquisition of a minority interest in Delta House from an affiliate of ArcLight Capital Partners, partially funded with net proceeds from a public offering of 7.5 million common units;
• De-leveraged the balance sheet and improved financial flexibility, including a 50 percent increase in borrowing capacity under the revolving credit facility to $750 million; and
• Maintained distribution per unit of $0.4725 for the third quarter.

For earnings history and earnings-related data on American Midstream Partners (AMID) click here.

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