RE:RE:RE:IQ EarningsI just would like to lay it out in an easier format to see. Below is the estimate based on last years results and a further comment on the revenue the dividend cut adds.
Both the companies together last year in Canadian dollars brought in 230 million in Q1 last year. Which would be around .85 cent per share.
On top of that the dividend cut saved them 337 million per year or 85 million per quarter.
This is where is gets interesting because how much of that 85 million gets added to the earnings per share this quarter? You have to subtract whatever they lossed in net earnings from asset sales.
I would bet my life that they didn't lose 85 million a quarter in net earnings from their asset sales. So how much of that dividend savings goes toward EPS is the question?
To put that in perspective the total 85 million dividend savings would contribute an extra .315 cents per share to last years total of .85 cents per share. That would put EPS at 1.16 for the quarter. So how much of that .315 was lost to asset sales is the research that needs to be done. It's not very hard research as ALA breaks down earnings into Power, Utilities and Gas every quarter. I just haven't done that particular work on it yet.
Let's say they lost half of that .315 to asset sales. They would still have an EPS on this Q over 1.00 per share.
I hope I could articulate that in a way people can understand.
Keep in mind this factors in Zero growth as a buffer.
Risk factors are Temporary one time fees for assets held for sale. Warmer weather than last year in Maryland area.