OTCPK:CSUWF - Post by User
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retiredcfon Jan 31, 2017 8:26am
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Post# 25776416
RBC
RBCFrom today's Canadian Energy Infrastructure report. GLTA
Sector Perform ($21.00 One-Year Price Target)
Fourth-quarter earnings and ACFFO (tentative release date: March 7)
We expect Enercare’s Q4/16 EBITDA to increase to $72 million, up from $58 million in Q4/15, primarily due to the incremental contribution from Service Experts (acquisition closed in May 2016). We estimate Q4/16 ACFFO/share (diluted) to increase to $0.30 (from $0.22 in Q4/15) due to EBITDA growth as well as a higher maintenance capex spend in Q4/15, partially offset by the increased number of shares outstanding from the equity raise completed in Q2/16.
We expect investors to focus on the contribution from Service Experts, and any updates on the roll-out of rentals within the Service Experts business.
The FactSet mean EBITDA estimate for Q4/16 is $69 million (three estimates with a range of $67 million to $72 million).