Southcross Energy Partners, L.P. Reports First Quarter Results
SOUTHCROSS ENERGY (SXE)
Last southcross energy earnings: 5/10 06:05 am
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US:NYSE Investor Relations:
investors.southcrossenergy.com
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Source: GlobeNewswire
DALLAS, Texas, May 10, 2018 (GLOBE NEWSWIRE) -- Southcross Energy Partners, L.P. (NYSE:SXE) (“Southcross” or the “Partnership”) today announced first quarter financial and operating results. Southcross’ net loss was $16.8 million for the quarter ended March 31, 2018, compared to $15.4 million for the same period in the prior year and $17.3 million for the quarter ended December 31, 2017. Adjusted EBITDA (as defined below) was $15.1 million for the quarter ended March 31, 2018, compared to $18.0 million for the same period in the prior year and $17.3 million for the quarter ended December 31, 2017. Adjusted EBITDA for the first quarter was lower than the prior quarter primarily due to lower processed gas volumes resulting from lower volumes delivered by producers. This was partially offset by lower operating and general and administrative expenses. Processed gas volumes during the quarter averaged 234 MMcf/d, a decrease of 9% compared to 256 MMcf/d for the same period in the prior
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