This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

TransMontaigne Partners' CEO Discusses Q2 2012 Results - Earnings Call Transcript

TransMontaigne Partners L.P. (TLP)

Q2 2012 Earnings Call

August 7, 2012 11:00 AM ET

Executives



Fred Boutin – EVP and CFO

Greg Pound – President and COO

Analysts



Stephen Patti (ph) – Investor

Matt Neblack (ph)

Eric Nich (ph) – Barclays

Presentation

Good day ladies and gentlemen and welcome to your TransMontaigne Partners earnings call. At this time all participants will be in a listen only mode but later we will conduct a question-and-answer-session which instructions will be given at that time.

(Operator Instructions)

And now I would like to introduce your host for today, Fred Boutin.

Fred Boutin

Good morning everyone. Chuck Dunlap is unavailable for today’s call. Greg Pound, our Chief Operating Officer is joining me on today’s call. And we’ll start with a review of the results of our operations for the quarter ended June 30th and Greg and I will field any questions you may have.

This quarter’s distributable cash flow was $16.5 million compared to $11 million for the year ago quarter. While at the same time, this quarter’s operating income was $12.5 million compared to $17.7 million for the year ago quarter. You might ask how our distributable cash flow could increase so much while our operating income was actually lower. The significant items impacting these comparisons include the following.

During Q2 of last year, operating income included the $9.6 million gain we realized upon the formation of the Frontera joint venture. While this gain was included in our operating income, it was not included in our computation of distributable cash flow. Second, we had revenue increases in our Gulf Coast, Midwest, River and Southeast terminals that were reduced by a small revenue decrease at our Brownsville terminal. Overall, our revenue increased from $36.8 million to $38.4 million. Approximately $800,000 of this increase is attributable to the new tanks at our Collins facility. While product gain income actually decreased by approximately $600,000.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,996.39 +283.73 1.60%
S&P 500 2,085.58 +24.56 1.19%
NASDAQ 4,942.9760 +51.7570 1.06%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs