Financials

Second quarter highlighted by strong performance from the deregulated energy business with $22.2 million in normalized Adjusted EBITDA

Q2 2018 Highlights

  • Deregulated energy business delivers $22.2 million in normalized Adjusted EBITDA, representing 57% growth over the second quarter of 2017
  • Significant progress on the strategic initiatives to improve profitability through cost reduction, high-margin customer growth and portfolio optimization
  • Achieved $20 million in annual run-rate cost savings to date

"Management is pleased with the performance of the deregulated energy business, posting $22.2 million in normalized Adjusted EBITDA for the second quarter, representing 57% growth over the second quarter of 2017. During the quarter, we made significant progress on our strategic decision to focus on our deregulated energy business and divest our solar business. We are determined to significantly improve profitability in our business through cost reduction, high-margin customer growth and portfolio optimization. We took immediate steps this quarter to reduce costs and have already achieved $20 million in annual run-rate cost savings which, when combined with eliminating the losses from solar, will deliver approximately $30 million of improved profitability over the next 12 months."

Michael Fallquist,
CEO of Crius Energy Trust