Webcast

Third Quarter 2020 Earnings Conference Call
Thursday, November 05, 2020
5:00 PM ET

Financial Highlights

Financial Highlights
2020 FQ3 YTD
9/30/2020
2019 FY
12/31/2019
2018 FY
12/31/2018
2017 FY
12/31/2017
2016 FY
12/31/2016
Balance Sheet ($000)
Cash and Cash Equivalents 83,284 33,123 46,733 39,560 61,520
Current Assets 212,114 209,432 271,048 352,462 131,462
Net PP&E 107,609 123,479 64,939 60,337 55,368
Total Intangible Assets 271,871 315,827 351,488 348,650 283,902
Total Assets 599,378 656,200 690,409 766,139 517,921
Short-term and Current Long-term Debt 10,563 12,056 3,000 3,000 3,750
Current Liabilities 51,274 65,987 54,034 64,847 34,560
Non-current Long-term Debt 243,473 254,411 240,541 292,489 286,697
Total Liabilities 341,838 368,028 357,677 417,864 334,465
Equity Attributable to Parent Company 257,540 288,172 332,732 348,275 183,456
Total Equity 257,540 288,172 332,732 348,275 183,456
Total Capitalization, at Book Value 511,576 554,639 576,273 643,764 473,903
Income Statement ($000)
Operating Revenue, Net 172,343 273,575 297,815 536,034 258,514
Cost of Revenue 94,599 156,169 170,338 164,621 122,975
Reported Net Operating Income (22,416) (1,653) 33,577 277,861 48,856
Recurring EBIT 12,543 18,492 31,430 277,639 48,856
Recurring EBITDA 24,862 35,140 47,703 294,050 64,198
Net Income before Taxes (27,433) (11,554) 20,038 258,310 33,526
Net Income before Extra (24,238) (19,712) 12,161 175,698 20,405
Net Income (24,238) (19,712) 12,161 175,698 20,405
Net Income Attributable to Parent (24,238) (19,712) 12,161 175,698 20,405
Cash Flow Statement Highlights ($000)
Cash Flow from Operating Activities 25,717 31,539 33,796 301,520 57,296
Cash Flow from Investing Activities 35,670 14,364 (159,546) (76,405) (9,553)
Cash Flow from Financing Activities (11,218) (59,440) (88,628) (24,795) (34,147)
Recurring Levered Free Cash Flow 5,390 (5,792) 12,813 267,654 39,859
Balance Sheet Ratios (%)
Debt/ Book Capitalization 49.66 48.04 42.26 45.90 61.29
Total Debt/ Total Equity(x) 0.99 0.92 0.73 0.85 1.58
Total Equity/ Total Assets 42.97 43.92 48.19 45.46 35.42
Debt plus Rdm Pfd/ Equity(x) 0.99 0.92 0.73 0.85 1.58
Long-term Debt/ Book Capital 47.59 45.87 41.74 45.43 60.50
Debt & Redeemable Preferred/ Book Capital 49.66 48.04 42.26 45.90 61.29
Net Debt and Preferred/ Recurring EBITDA(x) 6.02 6.71 4.24 0.82 4.12
Income and Cash Flow Statement Ratios (%)
Operating Revenue Growth (14.99) (8.14) (44.44) 107.35 1.72
Recurring EBITDA Growth (6.94) (26.34) (83.78) NM (9.88)
Recurring Levered FCF Growth NM NM (95.21) 571.50 (10.51)
Profitability Ratios (%)
ROAA (5.28) (2.84) 1.64 27.37 3.89
ROAE (12.57) (6.45) 3.60 66.09 11.79
ROACE (12.57) (6.45) 3.60 66.09 11.79
Return on Invested Capital 1.80 2.65 4.50 49.53 10.01
Recurring EBITDA Margin 14.43 12.84 16.02 54.86 24.83
Recurring Levered FCF Margin 3.13 (2.12) 4.30 49.93 15.42
Recurring Levered Free Cash Flow/ Recurring EBITDA 21.68 NM 26.86 91.02 62.09
Liquidity Ratios (x)
Recurring EBITDA/ Interest Expense plus Pfd 3.73 2.57 3.03 17.60 4.15
Recurring Unlevered FCF/ Interest Expense 1.73 0.51 1.74 16.82 3.53
Cash Interest Coverage 4.85 3.30 3.15 19.05 4.70
Per Share Information ($)
Common Shares Outstanding(actual) 84,185,728 84,355,040 87,490,873 90,349,667 90,166,598
Avg Diluted Shares(actual) 84,208,924 85,107,301 90,328,583 91,891,957 91,303,056
Basic Book Value per Share 3.06 3.42 3.80 3.85 2.03
Basic EPS before Extra (0.29) (0.23) 0.14 1.95 0.23
Basic EPS after Extra (0.29) (0.23) 0.14 1.95 0.23
Diluted EPS before Extra (0.29) (0.23) 0.13 1.91 0.22
Diluted EPS after Extraordinary (0.29) (0.23) 0.13 1.91 0.22
Recurring Levered FCF per Share 0.06 (0.07) 0.14 2.91 0.43
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