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Private company

USD Partners LP

American railroad switching and terminal establishments company2

In its 2023 annual report the company says: “We are a fee-based, growth-oriented master limited partnership formed in 2014 by US Development Group LLC, or USD, to acquire, develop and operate midstream infrastructure and complementary logistics solutions for crude oil, biofuels and other energy-related products. We also provide our customers with leased railcars and fleet services to facilitate the transportation of liquid hydrocarbons by rail. We generally do not take ownership of the products that we handle nor do we receive any payments from our customers based on the value of such products.”45 It is headquartered in Houston, United States.2

Last updated Oct 21, 2026.

Overview

  • IndustryRailroad Switching & Terminal Establishments2
  • HeadquartersHouston, United States2
  • Incorporated inDE3
  • Business address811 Main Street, Suite 2800, Houston, Tx 770023
  • Filer categoryAccelerated filer, Smaller reporting company3
  • Legal formLimited Partnership2
  • Kind of organizationLimited partnership2
  • LEI549300W8EFTTL1ACGP252
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O THE CORPORATION TRUST COMPANY, 19801 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 55330342

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2022

-53.5%Operating margin6
-54.9%Net margin6
-45.4%Revenue growth, 20226
$36.8MFree cash flow6

Where the money goes

Where each dollar of revenue went, fiscal 2022

  • Selling, general and admin23¢$25.8M
  • Other costs66¢$73.9M
  • Interest10¢$10.7M
  • Income tax1¢$1.3M

Out of $111.7M in revenue.6 The company lost money this year.

Where each dollar of operating cash went, fiscal 2022

  • Capital spending1¢$468.0K
  • Kept or used elsewhere99¢$36.8M

Out of $37.2M of cash from operations.6

Financial statements

Revenue789106$111.7M in 2022−1% since 2016
0$100.0M$200.0M$300.0M2016: $113.2M$113.2M20162017: $108.8M$108.8M2017−4%2018: $119.2M$119.2M2018+10%2019: $113.7M$113.7M2019−5%2020: $170.1M$170.1M2020+50%2021: $204.5M$204.5M2021+20%2022: $111.7M$111.7M2022−45%
Operating income789106-$59.7M in 2022
-$75.0M-$50.0M-$25.0M0$25.0M$50.0M2016: $34.5M$34.5M20162017: $29.5M$29.5M2017−14%2018: $29.4M$29.4M2018−0%2019: $20.6M$20.6M2019−30%2020: -$5.6M-$5.6M20202021: $25.9M$25.9M20212022: -$59.7M-$59.7M2022
Net income789106-$61.3M in 2022
-$75.0M-$50.0M-$25.0M0$25.0M$50.0M2016: $25.6M$25.6M20162017: $21.3M$21.3M2017−17%2018: $21.1M$21.1M2018−1%2019: $6.5M$6.5M2019−69%2020: -$19.3M-$19.3M20202021: $22.8M$22.8M20212022: -$61.3M-$61.3M2022
Fiscal year2016201720182019202020212022
Revenue$113.2M7$108.8M8$119.2M9$113.7M10$170.1M6$204.5M6$111.7M6
Selling, general and admin$9.7M7$9.2M8$10.8M8$18.8M10$48.4M6$70.7M6$25.8M6
Operating expenses$178.6M6$171.3M6
Operating income$34.5M7$29.5M8$29.4M9$20.6M10-$5.6M6$25.9M6-$59.7M6
Interest$9.8M7$9.9M8$11.4M9$12.0M10$10.1M6$7.0M6$10.7M6
Income before tax$23.8M6-$60.0M6
Income tax-$247.0K7-$1.9M8-$2.7M9$662.0K10$337.0K6$933.0K6$1.3M6
Net income$25.6M7$21.3M8$21.1M9$6.5M10-$19.3M6$22.8M6-$61.3M6

Compare USD Partners LP with another company

Corporate structure

USD Partners LP is part of a group headed by US DEVELOPMENT GROUP, LLC. 7 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0). Each entity in the chart links to its source.

What it owns

What USD Partners LP reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Construction in progress$423.0K6 Dec 31, 2022$861.0K6 Dec 31, 2021−50.9%
Property and equipment, before depreciation$153.8M6 Dec 31, 2022$217.9M6 Dec 31, 2021−29.4%
Accumulated depreciation$47.4M6 Dec 31, 2022$61.0M6 Dec 31, 2021−22.3%
Property and equipment, net$106.9M6 Dec 31, 2022$157.9M6 Dec 31, 2021−32.3%
Operating-lease assets (leased space)$1.5M6 Dec 31, 2022$5.7M6 Dec 31, 2021−73.3%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$2.5M6 Dec 31, 2022$5.5M6 Dec 31, 2021−54.3%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$06 Dec 31, 2022$06 Dec 31, 2021
Intangible assets, net (excluding goodwill)$3.5M6 Dec 31, 2022$48.9M6 Dec 31, 2021−92.8%
Finite-lived intangibles, gross$3.8M6 Dec 31, 2022$126.1M6 Dec 31, 2021−97.0%
Accumulated amortization$306.0K6 Dec 31, 2022$77.2M6 Dec 31, 2021−99.6%

Inventory

ItemLatestA year beforeChange
Inventory, total$06 Dec 31, 2022$3.0M6 Dec 31, 2021−100.0%

Leadership

Who has led USD Partners LP, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (15)

Subsidiaries and ownership

Parent company (GLEIF)

Ultimate parent

Subsidiaries (GLEIF)

Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record.

Timeline

  1. Nov 24, 20238-K Entered a material agreement; Ended a material agreement; New debt or obligation29
  2. Nov 17, 20238-K Entered a material agreement; Regulation FD disclosure30
  3. Nov 16, 20238-K Listing notice or transfer; Other events31
  4. Nov 7, 20238-K Results of operations32
  5. Nov 2, 20238-K Entered a material agreement; Regulation FD disclosure33
  6. Oct 10, 20238-K Entered a material agreement; Regulation FD disclosure34
  7. Aug 8, 20238-K Results of operations35
  8. Jul 26, 20238-K Listing notice or transfer; Regulation FD disclosure36
  9. May 3, 20238-K Results of operations37
  10. Apr 4, 20238-K Completed an acquisition or sale; Regulation FD disclosure38
  11. Mar 23, 20238-K Entered a material agreement; Regulation FD disclosure39
  12. Mar 1, 20238-K Results of operations40
  13. May 19, 2017Parent Directly consolidated by USD GROUP LLC2
  14. Jun 5, 2014Founded USD Partners LP is founded2

Calendar

When it reported results

  1. Nov 7, 2023Reported quarterly or annual results32
  2. Aug 8, 2023Reported quarterly or annual results35
  3. May 3, 2023Reported quarterly or annual results37
  4. Mar 1, 2023Reported quarterly or annual results40
  5. Nov 1, 2022Reported quarterly or annual results41
  6. Aug 3, 2022Reported quarterly or annual results42
  7. May 4, 2022Reported quarterly or annual results43
  8. Mar 2, 2022Reported quarterly or annual results44

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

74 filings to the SEC since October 2021: 2 annual reports, 7 quarterly reports, 29 major events, 31 insider forms, 5 other. The latest 20:

  1. Mar 28, 2024144 EDGAR
  2. Feb 27, 20243 EDGAR
  3. Feb 27, 20243 EDGAR
  4. Feb 21, 20244 EDGAR
  5. Feb 21, 20244 EDGAR
  6. Feb 21, 20244 EDGAR
  7. Feb 21, 20244 EDGAR
  8. Feb 21, 20244 EDGAR
  9. Feb 21, 20244 EDGAR
  10. Feb 21, 20244 EDGAR
  11. Feb 21, 20244 EDGAR
  12. Jan 2, 20244 EDGAR
  13. Dec 28, 2023144 EDGAR
  14. Dec 11, 202315-12G EDGAR
  15. Dec 11, 2023S-8 POS EDGAR
  16. Dec 11, 2023S-8 POS EDGAR
  17. Nov 30, 20233 EDGAR
  18. Nov 24, 20238-K EDGAR
  19. Nov 17, 20238-K 8-K USDP CREDIT AGREEMENT WAIVER EXTENSION EDGAR
  20. Nov 16, 20238-K 8-K USDP 8-K EDGAR

The 74 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

2 open-market trades by officers, directors and large owners since October 2021: 0 buys and 2 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Feb 16, 2024SMITH G STACYDirectorSale13,136$0.22$2.9KForm 4
Dec 28, 2023Wood Jeffrey P.DirectorSale50,000$0.14$7.0KForm 4

From Forms 4 filed with the SEC.

SEC filer profile

How USD Partners LP is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARUSD Partners LP1
  • CIK0001610682
  • Filer statusAccelerated filer<br>smaller reporting company1
  • Incorporated inDelaware1
  • Fiscal year endsDecember 311
  • Industry code (SIC)4013 Railroad Switching & Terminal Establishments1
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
  • Business address811 Main Street, Suite 2800, Houston, TX 770021
  • Phone713-249-04261
  • Shares outstanding33,774,427 as of Nov 1, 202313
  • Public float$75.7M as of Jun 30, 20226
  • On EDGAR sinceJun 13, 20141
  • Filings445 in all: 4 (195), 8-K (111), 10-Q (28), 3 (23), SC 13G/A (19), 10-K (9), CORRESP (8), 4/A (7)1
    All 30 form types

    SC 13G (7), UPLOAD (6), CT ORDER (3), EFFECT (3), 144 (2), 424B5 (2), 8-K/A (2), DRS/A (2), S-1/A (2), S-3 (2), S-8 (2), S-8 POS (2), 15-12G (1), 25-NSE (1), 424B1 (1), 424B4 (1), 8-A12B (1), CERTNYS (1), DEF 14C (1), DRS (1), DRSLTR (1), S-1 (1)

  • Latest filingsAnnual report (10-K) Mar 2, 2023
    Quarterly report (10-Q) Nov 7, 2023
    Latest 8-K (8-K) Nov 24, 2023

Sources

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