Arc Logistics Partners LP (ARCX) has reported an 122.79 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $4.46 million in the quarter, compared with $2 million for the same period last year.
Revenue during the quarter grew 10.75 percent to $26.67 million from $24.08 million in the previous year period. Total expenses were 76.18 percent of quarterly revenues, down from 85.90 percent for the same period last year. This has led to an improvement of 972 basis points in operating margin to 23.82 percent.
Operating income for the quarter was $6.35 million, compared with $3.40 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $14.87 million compared with $12.80 million in the prior year period. At the same time, adjusted EBITDA margin improved 262 basis points in the quarter to 55.74 percent from 53.13 percent in the last year period.
Operating cash flow improves significantly
Arc Logistics Partners LP has generated cash of $43.30 million from operating activities during the nine month period, up 51.24 percent or $14.67 million, when compared with the last year period.
The company has spent $28.90 million cash to meet investing activities during the nine month period as against cash outgo of $267.13 million in the last year period.
The company has spent $15.88 million cash to carry out financing activities during the nine month period as against cash inflow of $244.58 million in the last year period.
Cash and cash equivalents stood at $4.39 million as on Sep. 30, 2016, down 65.36 percent or $8.29 million from $12.69 million on Sep. 30, 2015.
Working capital increases
Arc Logistics Partners LP has recorded an increase in the working capital over the last year. It stood at $3.06 million as at Sep. 30, 2016, up 5.85 percent or $0.17 million from $2.89 million on Sep. 30, 2015. Current ratio was at 1.24 as on Sep. 30, 2016, up from 1.14 on Sep. 30, 2015.
Days sales outstanding went down to 30 days for the quarter compared with 32 days for the same period last year.
Debt moves up
Arc Logistics Partners LP has witnessed an increase in total debt over the last one year. It stood at $246 million as on Sep. 30, 2016, up 10.28 percent or $22.94 million from $223.06 million on Sep. 30, 2015. Arc Logistics Partners has witnessed an increase in long-term debt over the last one year. It stood at $246 million as on Sep. 30, 2016, up 10.28 percent or $22.94 million from $223.06 million on Sep. 30, 2015. Total debt was 37.76 percent of total assets as on Sep. 30, 2016, compared with 34.08 percent on Sep. 30, 2015. Interest coverage ratio improved to 2.56 for the quarter from 1.57 for the same period last year.
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