2023-03-07 08:07:41 ET
- CorEnergy Infrastructure Trust press release ( NYSE: CORR ): Q4 Net loss of $553K
- Revenue of $36.3M (+1.4% Y/Y).
- Adjusted EBITDA (a non-GAAP financial measure) of $9.4 million.
- 2023 Outlook:
- Expected Adjusted EBITDA of $33-35 million inclusive of maintenance expense of $9 - $10 million, lower than 2022 due to expected reduced volumes and delays in tariff processes (see Note 2 for additional details);
- Increased capital expenditures over 2022, expected to be in the range of $10 - $11 million. These costs are not expected to be uniform throughout the year due to project timing.
- Expects the Company’s Class B Common Stock, inclusive of any A-2 and A-3 Units potentially exchangeable to Class B Common Stock, to mandatorily convert to Common Stock at a ratio of 0.68:1, as opposed to 1:1, during Q1 2024.
For further details see:
CorEnergy Infrastructure Trust reports Q4 results