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Inergy, L.P. Message Board

  • peristentone peristentone Mar 12, 2012 4:55 PM Flag

    Deterioration of Free Cash Flow

    Looking at NRGY's cash flow, and comparing it against peers like Suburban Propane, what stands out is that NRGY has massive capex budgets and no free cash flow. What is all of that capex going towards?

    If this company wants to be honest with itself, it shouldn't be paying any distribution at all. If they want to invest in growth assets, they should get those done and generating cash flow and start showing free cash flow again before they restart a distribution.