Columbia Pipeline Group: 4Q15 reports

Columbia Pipeline Group, Inc. (CPG) reported adjusted EBITDA (non-GAAP) for the 12 months ended 31 December, 2015 of US$685.5 million, compared with US$601.0 million in 2014. Distributable cash flow (non-GAAP) for the year was US$401.3 million.

CPG reported net operating earnings from continuing operations - controlling interest (non-GAAP) of US$282.9 million for the 12 months of 2015, compared with US$268.3 million for 2014.

On a GAAP basis, CPG reported income from continuing operations - controlling interest for the 12 months of 2015 of US$267.6 million, compared with US$268.7 million for 2014.

CPG reported net operating earnings from continuing operations - controlling interest (non-GAAP) of US$72.2 million for the three months ending on 31 December, 2015, compared with US$62.6 million for the prior year period.

On a GAAP basis, CPG reported income from continuing operations - controlling interest for the three months ending on 31 December, 2015 of US$63.4 million, compared with US$62.6 million for the prior year period.

"Last year was clearly an historic one for CPG: we completed a seamless separation from NiSource, secured the largest project in our company's history and continued our focus on the flawless execution of our deep inventory of expansion and modernization projects. This is an exciting and, truly transformational, time for CPG," said CPG Chairman and Chief Executive Officer Robert C. Skaggs, Jr.

Edited from various sources by Elizabeth Corner

Sources: PR Newswire, Market Realist

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