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JP Energy Partners Sees Slim Loss of $2.7MM in 1Q
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JP Energy Partners LP announced first quarter 2016 financial and operating results.
JP Energy reported Adjusted EBITDA of $14.2 million for the first quarter of 2016, compared to $15.2 million for the first quarter of 2015, and reported a loss from continuing operations of $2.7 million for the first quarter of 2016, compared to income from continuing operations of $1.1 million for the first quarter of 2015. Adjusted EBITDA for the first quarter of 2016 included $1.5 million of corporate overhead support from our general partner. Distributable Cash Flow was $12.4 million for the first quarter of 2016, resulting in a distribution coverage ratio for the quarter of approximately 1.0x.
J. Patrick Barley, Chairman, President and Chief Executive Officer of JP Energy, said: "Our first quarter…
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