Investorideas.com

 

Join our smart investors - Get the best stock directories in  blockchain, cannabis, crypto, AI, IoT, cleantech. Daily podcasts in cannabis and crpto. Just $99  a year

Q1/18 Revenue Beat for Solar Power Firm, Continuing Growth Expected

Source: Streetwise Reports

 

May 24, 2018 (Investorideas.com Newswire) Pardeep Sangha, an analyst with Haywood Securities, reviewed this energy solutions company's first quarter financial results.


In a May 16, 2018 research note, Analyst Pardeep Sangha with Haywood Securities indicated that UGE International Ltd. (UGE:TSX.V; UGEIF:OTC) posted "strong results for Q1/18 with revenue beating our estimate and adjusted EBITDA in line with our expectations."

Q1/18 revenue was $6.1 million ($6.1M) an increase of 10% year over year and 46% quarter over quarter. It exceeded Haywood's estimate of $5.6M. Reported adjusted EBITDA was a loss of $0.1M, equal to Haywood's forecast and better than Q1/17's result of $0.2M. Gross margins in the quarter were 17.9%. "Growth was driven by strong performance in the U.S. and Philippines," Sangha explained.

As of March 31, 2018, UGE had $1.5M in cash and $7.4M in debt. Quarter-end net debt of $5.8M was $1M more than at year-end 2017.

In the near term, Q2/18 "should be a solid quarter," Sangha noted, supported by the Peterborough contract, a $41.2M project backlog and new jobs. Longer term, he projected revenue growth of 31% in 2018 and 36% in 2019.

Sangha concluded that UGE "is experiencing very strong growth and plans to report positive adjusted EBITDA for full-year 2018." Haywood, which expects the same, maintained its Buy recommendation and CA$0.80 per share target price on the company, whose stock is currently trading at around CA$0.37 per share.

Disclosure:

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with UGE International. Please click here for more information.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of UGE International, a company mentioned in this article.

Disclosures from Haywood Securities, UGE International Ltd., Research Report, May 16, 2018

Haywood Securities, or certain of its affiliated companies, may from time to time receive a portion of commissions or other fees derived from the trading or financings conducted by other affiliated companies in the covered security. Haywood analysts are salaried employees who may receive a performance bonus that may be derived, in part, from corporate finance income.

Haywood Securities, Inc., and Haywood Securities (USA) Inc. do have officers in common however, none of those common officers affect or control the ratings given a specific issuer or which issuer will be the subject of Research coverage. In addition, the firm does maintain and enforce written policies and procedures reasonably designed to prevent influence on the activities of affiliated analysts.

Analyst Certification: I, Pardeep S. Sangha, hereby certify that the views expressed in this report (which includes the rating assigned to the issuer’s shares as well as the analytical substance and tone of the report) accurately reflect my/our personal views about the subject securities and the issuer. No part of my/our compensation was, is, or will be directly or indirectly related to the specific recommendations.

Important Disclosures

Of the companies included in the report the following Important Disclosures apply: Haywood Securities Inc. or one of its subsidiaries has managed or co-managed or participated as selling group in a public offering of securities for UGE International Ltd (UGE-T) in the last 12 months.

Other material conflict of interest of the research analyst of which the research analyst or Haywood Securities Inc. knows or has reason to know at the time of publication or at the time of public appearance: n/a


RenewableEnergyStocks.com: investing ideas in renewable energy stocks

Like Renewable Energy Stocks? View our Renewable Energy Stocks Directory

Get News Alerts on Renewable Energy Stocks



More Info:

Investorideas.com Newswire

This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders


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: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire https://www.investorideas.com/News-Upload/

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: https://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.

Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp