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Atlantica Yield adjusted EBITDA climbs in Q1'18

Atlantica Yield PLC on May 14 reported first-quarter 2018 total further adjusted EBITDA, including unconsolidated affiliates, of $179.8 million, up from $165.1 million in the prior-year period.

The S&P Capital IQ consensus EBITDA estimate for Atlantica Yield in the first quarter was $167.6 million.

The company reported revenue of $225.3 million for the first quarter of 2018, up from $198.1 million in the first quarter of 2017. Cash available for distribution was $43.0 million for the first quarter of 2018, compared with $60.9 million in the prior-year quarter, according to a news release.

As of March 31, net project debt amounted to $4.93 billion and net corporate debt was $505.9 million, resulting in a net-corporate-debt-to-CAFD-pre-corporate-debt service ratio of 2.3x.

Atlantica Yield also announced its board of directors approved a dividend of 32 cents per share on May 11, a 28% increase over the same quarter in 2017.