CorEnergy Infrastructure (CORR) Reports Q2 Loss of $0.40, provides outlook

CorEnergy Infrastructure (NYSE: CORR) reported Q2 EPS of ($0.40). Revenue for the quarter came in at $35.7 million.

2023 Outlook

CorEnergy revised its outlook for 2023, now calling for:

Adjusted EBITDA of $24.0 to $26.0 million, inclusive of maintenance expense of $9.0 to $10.0 million, reflecting reduced volumes and delays in tariff processes (see Note 2 for additional details);
Capital expenditures in the range of $11.5 to $12.5 million, incurred at periodic times throughout the year based on project timing.
An expectation that the Company’s Class B Common Stock will mandatorily convert to Common Stock at a ratio of 0.68:1, as opposed to 1:1, during Q1 2024.

For earnings history and earnings-related data on CorEnergy Infrastructure (CORR) click here.

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