Strong operating performance highlighted by 2.5% growth in customers and continued growth of Adjusted EBITDA

Q2 2017 Highlights

  • Achieved net customer growth of 25,000 customers in the second quarter, representing 2.5% quarter-over-quarter growth, with total customers reaching 1,028,000
  • Adjusted EBITDA and Distributable Cash were $14.1 million and $11.4 million respectively, resulting in a payout ratio of 58.7% for the last twelve months
  • Announced a 2% distribution increase during the quarter reflecting the confidence that both Management and the Board have in the long-term outlook for the Company
  • Announced the acquisition of U.S. Gas & Electric, a leading U.S. energy retailer with natural gas and/or electricity customers in 11 States and D.C.

“Our second quarter was highlighted by the announcement of the acquisition of USG&E, as it represents a highly accretive transaction and a significant milestone for Crius Energy. The acquisition materially enhances the financial profile of the Trust as the pro-forma business serves nearly 1.4 million customers and is expected to generate more than $1 billion of revenue and $100 million of Adjusted EBITDA annually. We expect our positive trajectory to continue backed by our award winning family of brands and multi-channel marketing platform, which has been further enhanced by the acquisition of USG&E."

Michael Fallquist,
CEO of Crius Energy Trust