Earnings Call Summary | TIDEWATER MIDSTREAM & INFRASTR LTD(TWMIF.US) Q4 2023 Earnings Conference
Earnings Call Summary | TIDEWATER MIDSTREAM & INFRASTR LTD(TWMIF.US) Q4 2023 Earnings Conference
The following is a summary of the Tidewater Midstream and Infrastructure Ltd. (TWMIF) Q4 2023 Earnings Call Transcript:
以下是 Tidewater Midstream and Infrastructure Ltd. (TWMIF) 2023年第四季度業績電話會議記錄摘要：
Financial Performance:
財務業績：
Tidewater Midstream reported year-end consolidated results were impacted by lower gasoline and diesel sales volumes due to the turnaround during Q2, weaker commodity prices, and higher maintenance costs.
They took a non-cash impairment charge in Q4 while reevaluating the carrying values of their assets. Aim to reduce G&A expenditures and operation and maintenance program costs by $15 million to $20 million which will contribute to cash flow.
Reported consolidated adjusted FY '23 EBITDA of $162.9 million, decreased compared to last year's EBITDA of $249.8 million.
Faced a downturn in Q4 adjusted EBITDA, which was $21.4 million compared to $60.4 million in Q4 2022 due to lower demand for refined products influenced by unusually warm weather and other factors.
Used proceeds from the AltaGas transaction and new term loan facility to repay its $550 million credit facility and $53.3 million of working capital liabilities.
Tidewater Midstream公佈的年終合併業績受到第二季度轉機導致的汽油和柴油銷量下降、大宗商品價格疲軟以及維護成本上漲的影響。
他們在第四季度收取了非現金減值費用，同時重新評估了資產的賬面價值。目標是將併購支出以及運營和維護計劃成本減少1500萬至2000萬美元，這將增加現金流。
報告的23財年調整後合併息稅折舊攤銷前利潤爲1.629億美元，與去年的2.498億美元的息稅折舊攤銷前利潤相比有所下降。
由於受異常溫暖的天氣和其他因素影響，對成品油的需求減少，第四季度調整後的息稅折舊攤銷前利潤從2022年第四季度6,040萬美元降至2140萬美元。
使用AltaGas交易和新的定期貸款額度的收益來償還其5.5億美元的信貸額度和5,330萬美元的營運資本負債。
Business Progress:
業務進展：
After the sale of Pipestone and Dimsdale, now focusing on maximizing ROI and enhancing focus, urgency, and accountability across the organization.
Midstream operations are now focused within the Deep Basin presenting opportunities to consolidate volumes at core facilities and capitalize on increased producer activity.
Reports successful operation of HDRD Complex in Prince George at its design capacity, with expectations to operate at approximately 65% of design capacity during the first quarter of 2024.
Entered into agreement with BC government to provide front-end engineering and design work for a sustainable aviation fuel refinery and aims to have a bankable fee study completed in the first half of 2025.
Examining options for its convertible debentures due in the third quarter of 2023, suggesting an in-depth approach in evaluating its business.
在出售Pipestone和Dimsdale之後，現在專注於最大限度地提高投資回報率，增強整個組織的專注力、緊迫性和問責制。
現在，中游業務集中在深水盆地內，這爲整合核心設施的產量和利用生產商活動的增加提供了機會。
報告稱，位於喬治王子城的HDRD綜合大樓按其設計能力成功運營，預計在2024年第一季度將以約65％的設計容量運營。
與不列顛哥倫比亞省政府簽訂協議，爲可持續的航空燃料精煉廠提供前端工程和設計工作，並計劃在2025年上半年完成一項銀行可擔保的費用研究。
研究其將於2023年第三季度到期的可轉換債券的期權，提出評估其業務的深入方法。
More details: TIDEWATER MIDSTREAM & INFRASTR LTD IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
提示：欲了解更多詳情，請訪問投資者關係網站。本文僅供投資者參考，不構成任何投資建議。
譯文內容由第三人軟體翻譯。