Boston, MA 05\/13\/2014 (wallstreetpr) \u2013 \u00a0Pembina Pipeline Corp (NYSE:PBA)<\/b> intends to offer growth across the hydrocarbon value chain either through new facilities or expansion of pipelines. The Company showed the growth performance in its recent quarter of 2014.<\/p>\n
Higher volumes drive revenue and operating profit<\/b><\/p>\n
In the first quarter 2014, Pembina Pipeline Corp (NYSE:PBA)’s net revenue increased by 42% to $447 million (1Q2013: $315 million) due to strong performance across all businesses. During the quarter, Pembina\u2019s total volume increased to 1,654 mbpd with new facilities (Saturn I Facility) and expansion of Phase I Conventional and Nipisi pipelines. The Phase I Expansion increased the crude oil and condensate capacity by 40 mbpd and NGL capacity by 52 mbpd. Strong propane market in North America drove the Midstream business significantly.<\/p>\n
The significant increase in Pembina’s asset base improved the gross margin as well as operating margins. In 1Q2014, gross profit was up by 48% to $302 million (1Q2013: $204 million) and operating profit increased by 46% to $350 million (1Q2013: $240 million).<\/p>\n
The improved results in Pembina Pipeline Corp (NYSE:PBA)’s businesses and returns from new facility and expansions drove the Company\u2019s EBITDA to $316 million from $211 million same period last year. Consequently, it offset higher interest expenses and income tax and improved the earnings to $0.44 per share compared to $0.30 per share in 1Q2013.<\/p>\n
Strong balance sheet support cash generation<\/b><\/p>\n
Operating cash flow (adjusted) during the period was $264 million, up by 31% as a result of improved operating activities and decrease in working capital and improved raised the operating cash flow (adjusted) to $264 million. During the quarter, the Company spent $287 million to improve its growth infrastructures such as pipeline expansion and a new facility for volume growth.<\/p>\n
As of March 31, 2014, Pembina has net cash balance of $153 million and total borrowings of ~$2.2 billion to finance its operation in the near to medium term.<\/p>\n
Pembina Pipeline Corp (NYSE:PBA) is one of Canada\u2019s largest energy infrastructure providers and is well positioned with highly diversified integrated asset base to provide long-term growth opportunities.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 05\/13\/2014 (wallstreetpr) \u2013 \u00a0Pembina Pipeline Corp (NYSE:PBA) intends to offer growth across the hydrocarbon value chain either through new facilities or expansion of […]<\/p>\n","protected":false},"author":2,"featured_media":21874,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[5705,5704],"stock_ticker":[],"class_list":["post-22014","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-nysepba","tag-pembina-pipeline-corp-nysepba","entry"],"acf":[],"yoast_head":"\n