Gibson’s stock fell 10% on May 4, 2016 after 1Q16 estimates came in below consensus. The Company expects to save $35 mm/y from new cost savings initiatives, including a new management structure that cuts the number of its divisions from six to four. In 2016, Gibson will add 1.1 million barrels of storage at Hardisty and 300,000 barrels of storage and a rail loading facility at Edmonton. It will add another 1.8 million barrels of storage in 2017. Gibson expects to expand its presence in the U.S. ....
05 May 2016
Reports 1Q16 Results; EBITDA $74 mm (FCC $98 mm/Consensus $85 mm)
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Reports 1Q16 Results; EBITDA $74 mm (FCC $98 mm/Consensus $85 mm)
Gibson Energy Inc. (GEI:TSE) | 0 0 1.5% | Mkt Cap: 2,392m
- Published:
05 May 2016 -
Author:
Steven I. Paget -
Pages:
6
Gibson’s stock fell 10% on May 4, 2016 after 1Q16 estimates came in below consensus. The Company expects to save $35 mm/y from new cost savings initiatives, including a new management structure that cuts the number of its divisions from six to four. In 2016, Gibson will add 1.1 million barrels of storage at Hardisty and 300,000 barrels of storage and a rail loading facility at Edmonton. It will add another 1.8 million barrels of storage in 2017. Gibson expects to expand its presence in the U.S. ....