Media General (MEG) Misses Q1 EPS by 3c
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Media General, Inc. Announces First Quarter 2015 Results
May 7, 2015 7:30 AM EDTRICHMOND, Va.--(BUSINESS WIRE)-- Media General, Inc. (Media General or the Company; NYSE: MEG), one of the nations largest connected-screen media companies, today reported results for the first quarter that ended March 31, 2015.
Commenting on the Companys results, President and Chief Executive Officer Vincent L. Sadusky, said: We launched the new year as a newly merged company delivering record first quarter results. On a comparable basis to the prior year, despite the absence of political and Olympic advertising, net revenues increased 3% to $297 million and Adjusted EBITDA grew by 7% to $72 million. We continue to... More
Strong first quarter 2015 operating performance and low cost structure enable MEG to navigate through a low and volatile oil price environment
May 7, 2015 5:00 AM EDTCALGARY, ALBERTA -- (Marketwired) -- 05/07/15 -- MEG Energy Corp. (TSX: MEG) today reported first quarter 2015 operational and financial results. Highlights include:
-- Record quarterly production of 82,398 barrels per day (bpd), an increase of 41% over first quarter 2014 production volumes, driven by the Christina Lake Phase 2B project and continuing implementation of MEG's RISER initiative; -- Net operating costs of $10.49 per barrel, 23% lower than first quarter 2014 costs and 13% below full-year 2014 costs of $12.06 per barrel; -- Cash flow used in operations of $0.13 per share, resulting from the low commodity price environment in the quarter, as well... More