Impact: Below "Street" estimates, but we think the worst may be behind Gibson. On August 2, 2016, Gibsons released its first quarter financial results with adjusted EBITDA of $44 mm, slightly below our estimate of $46 mm and below consensus of $53 mm. The decline in earnings is primarily due to lower product revenue as a result of prolonged lower commodity prices and production outages limiting Gibsons' customer's activity. Gibsons also reinforced its growth Capital spending guidance of $225
02 Aug 2016
REPORTS 2Q16 RESULTS; ADJ. EBITDA $44 MM (FCC $46/CONSENSUS $53 MM)
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REPORTS 2Q16 RESULTS; ADJ. EBITDA $44 MM (FCC $46/CONSENSUS $53 MM)
Gibson Energy Inc. (GEI:TSE) | 0 0 1.5% | Mkt Cap: 2,392m
- Published:
02 Aug 2016 -
Author:
Steven I. Paget -
Pages:
4
Impact: Below "Street" estimates, but we think the worst may be behind Gibson. On August 2, 2016, Gibsons released its first quarter financial results with adjusted EBITDA of $44 mm, slightly below our estimate of $46 mm and below consensus of $53 mm. The decline in earnings is primarily due to lower product revenue as a result of prolonged lower commodity prices and production outages limiting Gibsons' customer's activity. Gibsons also reinforced its growth Capital spending guidance of $225