Sanchez Production Partners (SPP) Reports Q3 EPS of $1.21
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Sanchez Production Partners (NYSE: SPP) reported Q3 EPS of $1.21, versus $0.55 reported last year. Revenue for the quarter came in at $19.9 million, versus $25.63 million reported last year.
Adjusted EBITDA (a non-GAAP financial measure) for the third quarter 2016 was approximately $14.9 million, which compares to Adjusted EBITDA for the second quarter 2016 of approximately $14.6 million, representing a 1.5 percent increase quarter-on-quarter. The Partnership’s calculation of Adjusted EBITDA (a non-GAAP financial measure) is discussed in further detail below.
As of Sept. 30, 2016, the Partnership had $146.0 million in debt outstanding under its credit facility, which had a borrowing base of $198.7 million, and $0.6 million in cash and cash equivalents for total liquidity of $53.3 million. The reserve-based lending and midstream components of the Partnership’s borrowing base under the credit facility are scheduled for redetermination by the lenders during the fourth quarter 2016.
For earnings history and earnings-related data on Sanchez Production Partners (SPP) click here.
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