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Stock Market & Financial Investment News

News Breaks
December 13, 2012
07:06 EDTSXESouthcross Energy Partners reports Q3 EPS ($10.09), consensus 21c
EPS may not be comparable to consensus. Reports Q3 revenue $118.15M, consensus $181.19M. Says processed natural gas volumes averaged 166,140 million BTU per day during Q3, NGL production grew due to greater volumes of liquids-rich gas from Eagle Ford shale customers and averaged 8,337 barrels per day during Q3.
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December 8, 2014
14:02 EDTSXESouthcross Energy Partners repeats Q4 adjusted EBITDA view $20M- $24M
Southcross Energy Partners expects near term de-leveraging and is targeting 3.0x-4.0x leverage ratio and 1.1x-1.2x distribution coverage with "prudent use of equity" to fund growth. Southcross expects to achieve at least 1.0x coverage of common units in 1Q15 and expects to grow distributions in 2015. The company says its gross operating margin is becoming increasingly fixed fee oriented and it anticipates the ability to grow adjusted EBITDA without significant growth capital. Southcross sees its commodity sensitive margins to decline as a portion of gross operating margin, noting that its recently acquired and new contracts are largely fixed fee margins. Guidance and comments from investor day slides disclosed in a regulatory filing.
07:02 EDTSXESouthcross Energy Partners names John Bonn as president and CEO
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