- Holly Energy Partners (NYSE:HEP -1.1%) reports Q2 revenue of $118.8M (+8.8% Y/Y) primarily attributable to acquisition of the remaining interest in SLC and Frontier pipelines, which led to an increase in overall pipeline volumes of 24%
- EBITDA margin increased marginally 18bps to 68.9%.
- Distributable cash flow was $65.2M, +7% Y/Y.
- George Damiris, CEO of HEP said “Looking forward, we expect the continued strength in crude gathering, combined with contractual tariff escalators effective in the third quarter, will drive a strong rebound in earnings growth and our distribution coverage ratio, which we expect to be greater than 1.0x for the second half of the year.”
- Previously: Holly Energy misses by $0.02, misses on revenue (Aug. 1)