Energy Stock News: Enterprise Group (TSX: $E.TO) Announces Results for the Fourth Quarter of 2017
St. Albert, AB - February 7, 2018 (Investorideas.com Newswire) Enterprise Group, Inc. ("Enterprise," or "the Company") (TSX:E), a consolidator of services to the energy sector focused primarily on construction services and specialized equipment rental, today released its Q4 2017 and FY2017 results. (Table below).
Key investment metrics evidencing ongoing growth:
- Q4 2017 revenue $10.7m versus Q4 2016 at $8.3m
- EBITDA Q4 2017 $2.56m versus Q4 2016 $1.87m
- Net Income Q4 2017 $1.1m versus Q4 2016 loss ($9.9m)
- EPS Q4 2017 $0.02 versus Q4 2016 loss ($0.18)
(1) The Company's annual yearend audit is currently under way however it has not yet been completed. The financial figures presented in this release are reported in Canadian dollars, have been prepared in accordance with International Financial Reporting Standards and are subject to audit verification and adjustments. The Company expects to release its audited consolidated yearend financial statements and MD&A no later than March 29, 2018.
"While the business landscape has, and continues to improve, we are maintaining our posture of rationalizing costs and enhancing efficiencies," stated Desmond O'Kell, Senior Vice President. "With a positive Q4 2017 EPS over the same period in 2016 and showing significant increases in revenues and EBITDA for the same period, we look forward to a very active and profitable 2018."
Throughout 2017, Enterprise has experienced a meaningful increase in activity from its existing customers coupled with a substantial surge in new customers, which has resulted in increased market share for its four business units. Management's efforts to streamline and maximize efficiencies have translated into improved margins, positive cash-flow quarter after quarter and a strong return to profitability.
In the second half of 2017 the Company returned to profitability. Q3 and Q4 2017 delivered EPS of $0.01 and $0.02 respectively, while prior to this period the Company maintained positive cashflow through the challenging downturn that began 2014-2015.
Previously released: On January 8th, 2018, Enterprise announced that it had secured a one-year rental equipment supply and services agreement valued at C$9.1 million with one of Canada's largest energy producers focused on growing its strong portfolio of diverse resource plays.
For questions or additional information, please contact:
Leonard Jaroszuk, President & CEO, or
Desmond O'Kell, Senior Vice-President
Forward Looking Information
Certain statements contained in this news release constitute forward-looking information. These statements relate to future events or the Company's future performance. The use of any of the words "could", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The Company's Annual Information Form and other documents filed with securities regulatory authorities (accessible through the SEDAR website www.sedar.com) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference. The Company disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.
The Company uses International Financial Reporting Standards ("IFRS"). EBITDA/EBITDAS is not a measure that has any standardized meaning prescribed by IFRS and is therefore referred to as a non-IFRS measure. This news release contains references to EBITDA/EBITDAS. This non-IFRS measure used by the Company may not be comparable to a similar measure used by other companies. Management believes that in addition to net income, EBITDA/EBITDAS is a useful supplemental measure as it provides an indication of the results generated by the Company's principal business activities prior to consideration of how those activities are financed or how the results are taxed. EBITDA/EBITDAS is calculated as net income excluding depreciation, amortization, interest, taxes and stock based compensation.
Enterprise Group, Inc. (TSX: E)
is a featured company on Investorideas.com
Visit Profile page: http://www.investorideas.com/CO/TSXE/Get News Alerts on Enterprise Group, Inc.
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/News/Clientspecifics.asp Disclosure: Enterprise is a paid PR news and social media client effective January 12018 for three months -five thousand per month
Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country