This Day On The Street
Continue to site
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

Crosstex Energy Reports Fourth-Quarter And Full-Year 2012 Results

The Crosstex Energy companies, Crosstex Energy, L.P. (NASDAQ: XTEX) (the Partnership) and Crosstex Energy, Inc. (NASDAQ: XTXI) (the Corporation) today reported results for the fourth-quarter and full-year 2012.

Fourth-Quarter 2012 – Crosstex Energy, L.P. Financial Results

The Partnership realized adjusted EBITDA of $51.7 million and distributable cash flow of $26.7 million for the fourth quarter of 2012, compared with adjusted EBITDA of $54.6 million and distributable cash flow of $31.7 million for the fourth quarter of 2011. Adjusted EBITDA and distributable cash flow are non-GAAP financial measures and are explained in greater detail under “Non-GAAP Financial Information.” There is a reconciliation of these non-GAAP measures to net loss in the tables at the end of this news release.

The Partnership posted a net loss of $24.5 million for the fourth quarter of 2012 compared with a net loss of $1.4 million for the fourth quarter of 2011. The increase in the net loss for the fourth quarter of 2012 was primarily the result of increased depreciation and amortization expense.

“We successfully executed our business plan in 2012. We accomplished our three primary objectives by achieving solid financial performance, enhancing scale and diversification with the acquisition of the Ohio River Valley assets, beginning construction of the Cajun Sibon I project, announcing the Cajun Sibon II project and exiting 2012 with strong year-over-year increases in our distribution and dividend rates,” said Barry E. Davis, Crosstex President and Chief Executive Officer. “We have evolved into an integrated midstream energy solutions provider with $1 billion of major projects underway that will continue to increase our fee-based business and diversify our business across the natural gas, natural gas liquids and crude oil sectors. Looking ahead, I’m confident we have the right platform, the right opportunities and the right people to deliver growth and create value for our investors and customers.”

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.19 0.00%
FB $118.06 0.00%
GOOG $695.70 0.00%
TSLA $222.56 0.00%
YHOO $36.00 0.00%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs