Monday, April 29, 2013

Monday's Earnings Reports.....Atlas Pipeline Partners [APL] and Ensco [ESV]

Atlas Pipeline Partners (NYSE: APL) today reported adjusted earnings before interest, income taxes, depreciation and amortization ("Adjusted EBITDA"), of $67.7 million for the first quarter of 2013, driven primarily by a continued increase in volumes across the Partnership's gathering and processing systems. Processed natural gas volumes averaged 1,033 million cubic feet per day ("MMCFD"), a 63% increase over the first quarter of 2012.

Distributable Cash Flow was $43.5 million for the first quarter of 2013, or $0.67 per average common limited partner unit, compared to $35.2 million for the prior year's first quarter. The Partnership recognized a net loss of $27.5 million for the first quarter of 2013, which included a $26.6 million loss on the early retirement of the Partnership's 8.75% Senior Notes due 2018, compared with net income of $6.5 million for the prior year first quarter.

Adjusted EBITDA and Distributable Cash Flow are non-GAAP financial measures, which are reconciled to their most directly comparable GAAP measures in the tables included at the end of this news release. The Partnership believes these measures provide a more accurate comparison of the operating results for the periods presented......Read the entire Atlas Pipeline Partners earnings report.

Ensco plc (NYSE: ESV) reported diluted earnings per share from continuing operations of $1.36 in first quarter 2013, compared to $1.20 per share in first quarter 2012. Discontinued operations primarily related to rigs and other assets no longer on the Company’s balance sheet resulted in a loss of $0.05 per share a year ago. Diluted earnings per share increased 18% year to year to $1.36 from $1.15 in first quarter 2012.

Earnings increased $52 million to $317 million and operating income grew 17% to $402 million on record revenues of $1.150 billion in first quarter 2013. These increases were driven by a $28,000 increase in the average day rate and a 6% increase in floater rig days as new rigs were added to the active fleet......Read the entire Ensco earnings report.

Make sure to catch all of Doc Severson's video series and download the PDF's while the links still work....

"The NEW Roadmap to Consistent Monthly Income"

Download the "NEW" Iron Condor Trading Strategy

Ever wonder why 70% of mutual fund managers can't beat the S&P?

No comments:

ShareThis