Blueknight Announces Third Quarter 2019 Results

TULSA, Okla.--(BUSINESS WIRE)--Blueknight Energy Partners, L.P. (“BKEP” or the “Partnership”) (Nasdaq: BKEP) (Nasdaq: BKEPP) today announced its financial results for the three and nine months ended September 30, 2019. Net income was $7.0 million for the third quarter of 2019, as compared to net income of $2.4 million for the same period in 2018. Adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”) was $18.0 million for the three months ended September 30, 2019, as compared to $14.5 million for the same period in 2018. The 192% and 24% year-over-year increase in net income and Adjusted EBITDA, respectively, was primarily due to a strong performance across all operations and reduced costs.