RE:Thoughts on the 1st Qtr -21 ... good , bad or indifferentAllow me to add a bit more color to the Petrogas acquisition and add further to some of the comments and analysis already provided . I do want to go back to the presentation that was provided by Randy on Dec10….pg30.
1)” Over the past three years (2017-2019), Petrogas’ average annual normalized EBITDA has been ~$186 million with the trailing twelve months normalized EBITDA at June 30, 2020 of ~$218 million.” .
How does one interpret this statement? This is what I think he was implying using some algebra to intrepret. Corrections are welcome.
| Year | EBITDA | | Percent increase |
| 2017 | 169 | | |
| 2018 | 185 | | 9.5% |
| 2019 | 203 | | 9.7% |
| | | | |
| ave | 185.7 | | |
| | | | |
| 2020 | 219.2 | | 8.0% |
| 2021 | 236.8 | | 8.0% |
Year 2017,18,19 average is 186M and 12 month trailing from June30 is 218M.
2)” AltaGas estimates the forward 2021 normalized EBITDA will be ~$185 million, plus upwards of $30 million in operational synergies.” Is this an understatement? Underestimate? Is there such a thing as being too conservative given that Randy already stated June30 2020 12 month trailing was 218M?
GLTA
RFguy