TSX:AD.DB.A - Post by User
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retiredcfon Mar 23, 2024 12:50pm
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Another ViewRevenue was $41.9M vs $40.8M estimated. Earnngs per unit 86c vs 73c last year and well ahead of estimates. EBITDA of $61.3M beat estimates of $35.5M. Revenue fell 18% year over year. Gains were attributed to common equity exposure in its partners, which is an increasing part of its business. Payout ratio was 64%. It was a good quarter but overall management expressed disappointment that more capital was not deployed to new partners. But we do not see any issues here. We would be fine buying for higher-risk income accounts, and would expect more distribution increases (slowly) over the next few years. (5iResearch)