USL experienced a dramatic financial deterioration with net income swinging from $374K profit to -$5.8M loss and revenue collapsing to negative $5.3M.
The magnitude of these financial reversals (-1642% net income decline, -1173% revenue decline) indicates severe operational stress in this oil futures fund. The shift from positive to negative operating cash flow alongside declining assets suggests fundamental challenges in the fund's ability to generate returns for investors during this period.
USL suffered catastrophic financial performance with net income plummeting from $374K to -$5.8M and revenue turning deeply negative at -$5.3M. Operating cash flow reversed from positive $3.6M to negative $3.2M, while total assets declined 26% to $36.8M, painting a picture of a fund under severe stress. These dramatic reversals across all key financial metrics signal fundamental operational difficulties that should alarm investors about the fund's near-term viability and management effectiveness.
Net income declined 1642.5% — review whether driven by operations, interest costs, or non-recurring items.
Revenue declined 1173.4% — significant demand weakness or market share loss warrants investigation.
Operating cash flow fell 189.4% — earnings quality concerns; investigate working capital changes and non-cash items.
Total assets contracted 25.8% — asset sales, write-downs, or balance sheet optimization underway.
Liabilities reduced 21.5% — deleveraging improves balance sheet strength and financial flexibility.
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