Did any one listen to the CC? I will listen to it later in the evening...any tidbits on increasing the distributions? Just curious now that ETP has turned negative or just the market conditions dragging it down.
Per the Motley Fool article: " For the quarter, gross margin was 8.3%, 2,030 basis points worse than the prior-year quarter. Operating margin was 4.2%, 1,440 basis points worse than the prior-year quarter. Net margin was 2.8%, 860 basis points worse than the prior-year quarter."
If true, that's about about the worst margin performance I've ever seen. I'd sure like to hear the reasons why.
It seems the market is less then impressed with the report. Revenue and earning are up but, no increase in distribution. Assets have increased but debt load has increased even more.
Worst of all management was asked if they planned to keep all the Sunoco retail gas stations. Management indicated they would retain these and implied they could not sell them for enough to get value. To me this is not good news. These gas stations are a UBTI problem.
Still holding but not impressed and still worried the payout could be cut.
Not bad news but not great either.