RE:Well I'm all in now. Superior Plus Corp. (SPB-T) lost 4.5 per cent after reported net earnings of $74.6-million or 43 cents per share in the fourth quarter, compared to a net loss of $48.3-million or 28 cents in the prior-year quarter “primarily due to the unrealized loss on derivative financial instruments in the fourth quarter of 2018 compared to a gain in 2019,” the company stated.
Revenue was $821-million down from $889.2-million in the year-ago period. Analysts were expecting revenue of $853.8-million and earnings of 40 cents per share.
Industrial Alliance Securities analyst Elias Foscolos said: “SPB announced its Q4/19 results which were above expectations. SPB’s $524.5-million in 2019 Adj. EBITDA is on the top end of its guidance range. The beat was derived from above-average unit margins in both Canada and the US. In conjunction with the results, SPB unveiled its 2020 guidance range of $475-515-million. The year-over-year decrease and tempered expectations are mainly a result of less-than-optimistic expectations of wholesale propane market fundamentals.”