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Linn Energy, LLC Message Board

  • rlp2451 rlp2451 Oct 10, 2013 10:22 AM Flag

    Here's What "Backwards Looking" Does to Linn's DCF Coverage According to New Requirments From the SEC

    While all the Linn bulls will say "bull$$$$" to this, here's what Linn's actual DCF coverage was for 2012 vs. what they actually reported, due to double counting for acquisitions:

    1Q 2012 Reported: 1.12x
    1Q 2012 Actual:0.84x

    2Q2012R: .96
    2Q2012A: .92

    3Q2012R: 1.40
    3Q2012A: 1.14

    4Q2012R: 1.04
    4Q2012A: 1.05

    2012R: 1.12
    2012A: .99

    According to Wells Fargo anyway. They did not post any target prices.

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    • jesus go getta job or somethin. we don't need a wannabe
      third tier news reporter

    • I'm afraid that kind of exercise is a waste of time. Sure, EBITDA would have changed, but LINE has made it clear it no longer would have made the same adjustments. In the amended S-4, page 237, which I'm sure everyone has committed to memory by now, they alter the adjustments to come down to exactly the same DCF numbers they presented in the Q2 earnings release. If LINE was to restate all these prior periods, logically DCF would have been the same, they just would have added or altered some of the "descretionary" adjustment lines.

    • Poor rlp'd if there was 'double counting' it would be a material breach of fiduciary responsibility. Clearly you are up to the old old games again.

      Markets are forward risk adjusted future cash flow discounting machines. So you are posting the irrelevant., As a deluded determinist is compelled to do by bio-chemical nature.

      Again, oil prices are above the put strike, ngl pricing has strengthen 15% to 20%, Sooner or later line pressure problems will be resolved and we are looking at Hogshooter OK and Hogshooter TX. Plus the nice acquisition needs to be added to free cash flow.

      The SEC finishes up after all this time and perhaps a pleasant surprise in the 3rd quarter. Been a very long time sense management got a tail wind on anything.

      History is not valuation whether it is factual or the delusions you spew. Not a matter of opinion.

    • here is what I don't understand about your thinking rip Line buys 2 prop for 4 bil and one prop for 500 mil this is all in the last yr they bought long livred prop and they know they can expand the life of these properties You make an argument that they paid out 40 mil or so in the last yr In the context of spending almost 5 bil for properties you are trying to make a case for 40 mil IMO you are being penny wise dollar foolish

 
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