Sanchez Midstream Partners Reports Third-Quarter 2019 Financial Results
Evolve Transition Infrastructure LP Common Units representing Class B Limited Liability Company Interests (SNMP)
NASDAQ:AMEX Investor Relations:
phx.corporate-ir.net/mobile.view?c=205244
Company Research
Source: GlobeNewswire
HOUSTON, Nov. 12, 2019 (GLOBE NEWSWIRE) -- Sanchez Midstream Partners LP (NYSE American: SNMP) (“SNMP” or the “Partnership”) today reported third-quarter 2019 results. Highlights from the report include: Third-quarter 2019 net loss of $6.8 million, compared to net income of $3.9 million for second-quarter 2019 and net income of $0.4 million for third-quarter 2018;Third-quarter 2019 Adjusted EBITDA (a non-GAAP financial measure) of $17.4 million, compared to Adjusted EBITDA of $17.5 million for second-quarter 2019 and $18.4 million for third-quarter 2018; andThe Partnership has reduced debt by $28 million (15.2 percent) since Sept. 30, 2018. FINANCIAL RESULTSThe Partnership’s third-quarter 2019 revenues totaled $20.9 million, of which $15.9 million came from the midstream activities of Western Catarina Midstream and the Seco Pipeline. The balance of the Partnership’s third-quarter 2019 revenues came from production activities ($4.1 million, which includes a gain on hedge settlement
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