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Global Partners LP Message Board

  • jillbowels jillbowels Dec 28, 2010 5:09 PM Flag

    Earnings down the line

    I`m back in with a small position.Left for greener pastures...now I`m back. Just noticed on E-Trade, they Have GLP earnings as follows... 2010 -$1.67, 2011 $2.15 ,2012 $3.13,and 2014 $1.61. Anybody know why earnings would tumble in 2014?

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    • rarely are those numbers accurate....and remember MLPs earnings make 0 sense to look at since they distribute their cash, you need to look at DCF (distri cash flow or even ebitda)

    • Not sure why anyone would care about earnings for MLPs as opposed to DCF and distribution levels. For what it's worth, this is Wells Fargo's estimates on DCF and distribution:

      DCF/unit: 2010 $2.89 ; 2011 $2.72; 2012 $2.81
      Distrib: 2010 $1.97; 2011 $2.10; 2012 $2.23

      Wells has this rated as a market perform although they think there are plenty of opportunities for accretive (to distribution) acquisitions and organic growth. In Wells MLP report, they gave an example of a $100mm acquisition (funded 50/50 debt equity) adding $0.19 to the distribution.

 
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