Third quarter highlighted by strong performance from the deregulated energy business with $20.9 million in normalized Adjusted EBITDA

Q3 2018 Highlights

  • Deregulated energy business delivers $20.9 million in normalized Adjusted EBITDA, representing 6% growth over the third quarter of 2017
  • Significant progress on the strategic initiatives to improve profitability through cost reduction, high-margin customer growth and portfolio optimization
  • Achieved $22 million in annual run-rate cost savings through the end of the third quarter, and expect to exceed $25 million in cost savings by the end of 2018

"Our strategic shift to exit the solar business and redouble focus on the deregulated energy business is expected to result in a cumulative $35 million annual improvement to our Adjusted EBTIDA. We also expect our results in future quarters to benefit from the growth in our embedded margin, up over $20 million since the beginning of 2018, which reflects our view on the value of our customer portfolio. The strategic changes we've made, combined with the increased value of our customer portfolio, give me confidence that we have a solid foundation capable of producing more than $100 million of Adjusted EBITDA annually which supports the sustainability of our distribution."

Michael Fallquist,
CEO of Crius Energy Trust