This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Regency Energy Partners Reports Increases In Fourth-Quarter And Full-Year 2012 Adjusted EBITDA

Stocks in this article: ETERGP

Regency Energy Partners LP ( NYSE: RGP), (“Regency” or the “Partnership”), announced today its financial results for the fourth-quarter and full-year ended December 31, 2012.

For full-year 2012, adjusted EBITDA increased by 14 percent to $480 million compared to $422 million in 2011. For fourth-quarter 2012, adjusted EBITDA increased to $116 million compared to $115 million for fourth-quarter 2011. These increases in adjusted EBITDA were primarily due to volume growth in the gathering and processing segment, partially offset by higher operations and maintenance expenses. The full-year increase was also partly due to a full-year contribution from the Lone Star Joint Venture in 2012, compared to a partial-year contribution in 2011.

For the year-ended December 31, 2012, Regency generated $310 million in cash available for distribution, compared to $285 million for full-year 2011, primarily due to the same items set forth above. For fourth-quarter 2012, Regency generated $68 million in cash available for distribution, compared to $82 million in the fourth-quarter of 2011. This decrease was primarily due to lower proceeds from asset sales in the fourth-quarter of 2012 compared to the prior period.

Net income decreased to $48 million for the full-year ended December 31, 2012, from $74 million for the full-year ended December 31, 2011. These decreases were primarily due to non-cash valuation adjustments recorded in each respective period. For fourth-quarter 2012, Regency reported a net loss of $9 million compared to a net income of $14 million for fourth-quarter 2011.

“In 2012, robust drilling activity in south and west Texas and in north Louisiana contributed to a 20 percent increase in gathering and processing volumes, and we also saw an upswing in revenue generating horsepower in our contract compression business,” said Mike Bradley, president and chief executive officer of Regency. “In addition, we continued construction on major organic growth projects in several of our liquids-rich operating regions.”

1 of 10

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,828.24 +0.49 0.00%
S&P 500 2,067.56 -5.27 -0.25%
NASDAQ 4,791.63 +4.3130 0.09%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs