NEW YORK, September 10, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on American Midstream Partners, LP (NYSE: AMID). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=AMID    

Highlights from our AMID Report include:

• Impressive Gross Margin Expansion - On August 10, 2015, American Midstream Partners, LP (Partnership) announced results for the second quarter and the half year ended June 30, 2015. Non-GAAP gross margin increased $10.1 million, or 45.5% to $32.3 million in Q2 2015, as against $22.2 million recorded in the corresponding period a year ago. For H1 2015, gross margin stood at $66.1 million compared to $45.2 million in the same period previous year, reflecting a growth of 46.2% or $20.9 million. American Midstream said that the increase in gross margin was mainly on account of higher gross margin in the Partnership's Gathering and Processing segment from the 2014 Costar Midstream and Lavaca system acquisitions.

• Exceptional Growth in EBITDA - The Partnership witnessed significant growth in adjusted EBITDA by 113.2% to $14.5 million in Q2 2015, compared to $6.8 million in Q2 2014, driven primarily by the above-mentioned acquisitions. However, lower margin contribution from the Partnership's legacy assets partially offset the growth. For the six month period, adjusted EBITDA grew by 73.0% to $30.1 million from $17.4 million in H1 2014. Additionally, non-GAAP distributable cash flow (DCF) for Q2 2015 and H1 2015 stood at $9.6 million and $21.3 million, respectively, representing distribution coverage ratios of 0.79 and 0.87, respectively.

• Bottom-line Review - The Partnership's net loss for Q2 2015 stood at $2.1 million, as against a net loss of $1.7 million in Q2 2014. For H1 2015, the Partnership saw a net loss of $1.2 million compared to a net loss of $1.3 million for the same period a year ago. The Partnership said that the losses for the quarter and half year were mainly due to non-cash losses from the disposal of a non-strategic asset.

• 2015 Guidance - For 2015, the Partnership expects the adjusted EBITDA to be in $75 million to $80 million range while DCF is expected to be in $55 million to $60 million range. In addition, growth capital expenditures are expected to range from $115 million to $125 million.

To find out how this influences our rating on American Midstream Partners, LP, read the full report in its entirety here: http://www.aciassociation.com/?c=AMID

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