trending Market Intelligence /marketintelligence/en/news-insights/trending/XyKBhF7HcTkY_yMhu-GfOQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Crius Energy Q4, FY'18 adjusted EBITDA, revenues improve YOY

Essential Energy Insights - June 11, 2020

Webinar Replay

Deep Dive on Oil & Gas for Financial Institutions

Essential Energy Insights - May 28, 2020

Essential Energy Insights - May 14, 2020

Crius Energy Q4, FY'18 adjusted EBITDA, revenues improve YOY

Toronto-headquartered energy retailer Crius Energy Trust on March 14 reported fourth-quarter 2018 adjusted EBITDA of $19.1 million, compared with $18.0 million in the comparable quarter of 2017.

Distributable cash came in at $10.0 million, a decline from $13.0 million in the year-ago quarter. Revenues for the quarter totaled $284.8 million, rising from $248.5 million in the fourth quarter of 2017.

The company, which is in middle of being acquired by Irving, Texas-headquarterd Vistra Energy Corp., reported fourth-quarter of $1.7 million, a drop from $36.0 million in the corresponding quarter of 2017.

Vistra on Feb. 20 announced it had upped its purchase price for the energy retailer to $378 million, amending an earlier agreement to purchase the company for $328 million, after the target received what Morgan described as an "unexpected and hostile" unsolicited third-party bid.

For the full year of 2018, Crius Energy posted adjusted EBITDA of $70.2 million, an improvement from $64.7 million in the previous year.

Distributable cash was $21.9 million, representing a payout ratio of 167.9% in 2018, which is elevated over recent levels due to the impacts of negative contribution from the solar business and certain nonrecurring costs. Normalizing for those impacts, the distributable cash and payout ratio for the year were $40.4 million and 90.8%, respectively.

Revenues grew to $1.24 billion from $875.9 million in the full year of 2017. Net income for the year came in at $19.0 million, compared with $20.1 million in 2017.

"In 2018, Crius executed on a 'return to core' strategy focused on the deregulated energy business," said Michael Fallquist, CEO of Crius Energy. "It was a year of strategic shifts and resetting of our focus, and after achieving our cost reduction targets during the year, and substantially exiting the solar business, we are excited to enter 2019 with a simplified, streamlined organization."

Crius Energy is a competitive residential and commercial electricity and natural gas provider with more than 1 million residential customer equivalents in 19 states and Washington, D.C.