Savanna reported a strong 3Q15 with reported revenue in line with our forecast, but EBITDAS of $24 mm beat our estimate of $20 mm. In addition, the Company announced additional asset sales which will help de-lever the balance sheet. Our 2015e EBITDAS has been increased to $100 mm (prior: $92 mm) and 2016e has been increased to $85 mm (prior: $82 mm) to reflect ongoing benefits from cost control initiatives.
04 Nov 2015
Savanna Energy Services Corp. (SVY) Reports Stronger-Than-Expected 3Q15, Additional Asset Sales
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Savanna Energy Services Corp. (SVY) Reports Stronger-Than-Expected 3Q15, Additional Asset Sales
Savanna reported a strong 3Q15 with reported revenue in line with our forecast, but EBITDAS of $24 mm beat our estimate of $20 mm. In addition, the Company announced additional asset sales which will help de-lever the balance sheet. Our 2015e EBITDAS has been increased to $100 mm (prior: $92 mm) and 2016e has been increased to $85 mm (prior: $82 mm) to reflect ongoing benefits from cost control initiatives.