ENP Newswire -
Release date- 07052014 -
Adjusted EBITDA increased by 13% to
Capital expenditures were
Dividends declared in the first quarter of 2014 were
'This record quarter for the Company provides a tremendous start to the year for our financial and operating performance,' said
Management's Discussion and Analysis and Financial Statements
The Management's Discussion and Analysis and Condensed Consolidated Financial Statements provide a detailed explanation of Gibson's operating results for the three months ended
2014 First Quarter Results Conference Call
A conference call to discuss Gibson's first quarter results will be held at
416-340-2217 or 866-696-5910
Participant Pass Code: 8111827
Shortly after the call, an audio archive will be posted on the Investors/News section at www.gibsons.com. The call will also be recorded and available for playback 60 minutes after the meeting end time, until
905-694-9451 or 800-408-3053
Participant Pass Code: 5148008
Gibson is a large, independent midstream energy company in
The Company transports energy products by using its network of terminals, pipelines, storage tanks and trucks located throughout western
Certain statements contained in this news release constitute forward-looking information and statements (collectively, 'forward-looking statements') including, but not limited to, statements concerning the Company's future payment of dividends and the amount thereof and management's expectation with respect to the Company's business and financial prospects and opportunities. These statements relate to future events or the Company's future performance.
All statements other than statements of historical fact are forward-looking statements. The use of any of the words 'anticipate', 'plan', 'contemplate', 'continue', 'estimate', 'expect', 'intend', 'propose', 'might', 'may', 'will', 'shall', 'project', 'should', 'could', 'would', 'believe', 'predict', 'forecast', 'pursue', 'potential' and 'capable' and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements.
No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. In addition, this news release may contain forward-looking statements and forward-looking information attributed to third party industry sources.
The Company does not undertake any obligations to publicly update or revise any forward looking statements except as required by securities law. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties including, but not limited to, the risks and uncertainties described in 'Forward-Looking Statements' and 'Risk Factors' included in the Company's Annual Information Form dated
This news release refers to certain financial measures that are not determined in accordance with International Financial Reporting Standards ('IFRS'). Adjusted EBITDA and Pro Forma Adjusted EBITDA are not measures recognized under IFRS and do not have standardized meanings prescribed by IFRS. Management considers these to be important supplemental measures of the Company's performance and believes these measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in its industries with similar capital structures.
Distributable cash flow is used to assess the level of cash flow generated from ongoing operations and to evaluate the adequacy of internally generated cash flow to fund dividends. Investors are encouraged to evaluate each adjustment and the reasons the Company considers it appropriate for supplemental analysis. Investors are cautioned, however, that these measures should not be construed as an alternative to net income determined in accordance with IFRS as an indication of the Company's performance.
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