3Q16 earnings announced by Dominion Midstream Partners
Published by Anna Nicklin,
Assistant Editor
World Pipelines,
Dominion Midstream Partners, LP has reported unaudited net income of US$24.3 million that is attributable to the partnership. This is equivalent to 30 cents per common limited partner unit for the three months ending on 30 September 2016.
On 21 October, the company’s board of directors declared a quarterly distribution of US$0.2475 per unit, payable on 15 November to unitholders of record at the close of business 4 November.
Earnings before interest, income taxes, depreciation and amortisation (adjusted EBITDA) was US$27.9 million. Moreover, distributable cash flow was US$24.1 million for 3Q16.
Dominion Midstream uses adjusted EBITDA and distributable cash flow as its primary performance measurements of its earnings and results for public communications with analysts and investors. The company also uses adjusted EBITDA and distributable cash flow internally for budgeting, reporting to the board of directors and other purposes.
Dominion’s management personnel believe adjusted EBITDA and distributable cash flow provide a more meaningful representation of the company's financial performance and liquidity.
Read the article online at: https://www.worldpipelines.com/business-news/01112016/3q16-earnings-announced-by-dominion-midstream-partners/
You might also like
World Pipelines Podcast: Supporting young pipeliners
In this episode, Elizabeth Corner speaks to Josiah SooTot, Chair at Young Pipeliners International (YPI) and Pipeline Integrity Engineer at ExxonMobil, about what Young Pipeliners International does for young professionals in the pipeline industry.
Maximising productivity with maxi rig maintenance
Kelly Beller, Vermeer Corporation, USA, makes the case that operators can boost horizontal directional drilling productivity by paying attention to maxi rig parts.
