CSI Compressco LP (CCLP) Posts Q3 Revenue of $114M

CSI Compressco LP (NASDAQ: CCLP) reported Q3 revenue for the quarter came in at $114 million versus the consensus estimate of $119.69 million. Net loss was $3.6 million.

Distributable cash flow(1) improved 1% sequentially to $15.8 million while Adjusted EBITDA(1) increased 4% sequentially to $34.0 million as lower new equipment sales due to timing of shipments were more than offset by stronger compression services earnings.

2019 Guidance

Our full year 2019 guidance for revenue and Adjusted EBITDA remains unchanged at between $475 million and $490 million and between $125 million and $130 million, respectively. We now expect 2019 net loss to be between $19.5 million and $21.5 million, our average distribution coverage ratio for 2019 to be between 29X and 31X and 2019 distributable cash flow to be between $55 million and $59 million. Reconciliations of expected Adjusted EBITDA, distributable cash flow and distribution coverage ratio to the nearest GAAP financial measures are included on Schedule D.

For earnings history and earnings-related data on CSI Compressco LP (CCLP) click here.

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