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Superior Plus Corp T.SPB

Alternate Symbol(s):  SUUIF

Utilities Utilities - Regulated Gas
Superior Plus Corp. is a Canada-based distributor of propane, compressed natural gas, renewable energy and related products and services. Through its primary businesses, propane distribution and CNG, RNG and hydrogen distribution, it delivers clean burning fuels to residential, commercial, utility, agricultural and industrial customers. Its segments include U.S. Retail Propane Distribution (U.S. Propane), Canadian Retail Propane Distribution (Canadian Propane), North American Wholesale Propane Distribution (Wholesale Propane) and Certarus Ltd. (Certarus). The U.S. Propane segment distributes propane gas and liquid fuels primarily in the Eastern United States and California, as well as the Midwest to residential and commercial customers. The Canadian Propane segment distributes propane gas and liquid fuels across Canada to residential and commercial customers. The Wholesale Propane segment distributes propane gas and other natural gas liquids across Canada and the United States.


TSX:SPB - Post by User

Superior Plus Corp
Bullboard Posts
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(2)
•••
Post by LittleHedgeon Nov 14, 2019 7:43am
110 Views
Post# 30349267

TD - Action Buy list rating, highlights of report

TD - Action Buy list rating, highlights of report
Looks very good, think this one is a keeper.

Superior Plus reported Q3/19 Adjusted EBITDA of $48.2mm, 54% above our estimate of $31.3mm and above consensus of $35.3mm. Adjusted Operating Cash Flow (AOCF) per share in Q3/19 was $0.11, above our estimate of $0.02 (consensus: $0.05). Conference call: 10:30 a.m. ET (1-844-389-8661).

Impact: Positive

We reiterate our ACTION LIST BUY recommendation and $16.00 target price.
Superior Plus is a well-run company that has a strong market position, a relatively stable core propane business, a chemicals business with a favourable long-term outlook, potential for additional tuck-in acquisitions, an attractive and sustainable dividend, and a compelling valuation. Additionally, we see upside from the sale of the chemicals division.
November 14, 2019

Bullboard Posts
Dealroom for high-potential pre-IPO opportunities