Calfrac reported bank defined EBITDAS of $22.9 mm in 4Q15, which is positive for the Company’s TTM EBITDAS calculations and covenants moving forward. This compared favourably to our forecast of $10 mm. The Company’s Board of Directors elected to suspend the quarterly dividend, which will help preserve cash through what is expected to be a challenging 2016e. We expect the Company will need to execute its equity cure provision in 4Q16e to remain in compliance with its covenants. Our 2016e EBITDAS ....
25 Feb 2016
Reports 4Q15 Results
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Reports 4Q15 Results
Calfrac Well Services Ltd. (CFW:TSE) | 0 0 1.1% | Mkt Cap: 964.6m
- Published:
25 Feb 2016 -
Author:
Ian B. Gillies -
Pages:
6
Calfrac reported bank defined EBITDAS of $22.9 mm in 4Q15, which is positive for the Company’s TTM EBITDAS calculations and covenants moving forward. This compared favourably to our forecast of $10 mm. The Company’s Board of Directors elected to suspend the quarterly dividend, which will help preserve cash through what is expected to be a challenging 2016e. We expect the Company will need to execute its equity cure provision in 4Q16e to remain in compliance with its covenants. Our 2016e EBITDAS ....