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Stock Market & Financial Investment News

News Breaks
August 6, 2014
07:06 EDTSXESouthcross Energy Partners reports Q2 EPS (34c), may not compare to consensus 3c
Reports Q2 revenue $195.1M, consensus $201.8M. Reports adjusted EBITDA $10.2M vs. $6.2M last year. Growth capital expenditures for the remainder of 2014 are expected to include costs to complete the Webb Pipeline and approximately $15 million of additional growth capital associated with recently added gas supply and gas sales contracts. Southcross expects that growth capital expenditures for the full year 2014 will be in the range of $100 million to $120 million. Consistent with its prior guidance forecast, Southcross continues to expect that its Adjusted EBITDA for the fourth quarter of 2014 will be in the range of $22 million to $28 million.
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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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