CEO J. Mike Stice of Access Midstream Partners LP (ACMP) is giving investors a line of sight directionally on how the company is expecting to perform by keeping up with three years of EBITDA, growth capital and maintenance capital guidance, and he is anticipating growth in numerous areas.
“In 2013, we guided to our EBITDA — our earnings before income tax, depreciation and amortization — that we’d make $800 million to $850 million, and as I mentioned earlier, we closed the year at $858 million. For 2014, we’ve guided to $1 billion to $1.1 billion, showing the growth that is anticipated. For 2015, we’ve guided to $1.2 billion to $1.3 billion,” Stice said.
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Additionally, Stice is giving investors guidance on Access Midstream Partners’ growth and maintenance capital, which for 2013 ended in line with expectations.
“Our projected growth capital in 2013 was $1.6 billion to $1.7 billion, and more around the $1.6 billion number is where we ended up. In 2014, we guided to $1.0 billion to $1.1 billion in growth capital, and we guided to $800 million to $900 million in growth capital in 2015,” Stice said.
“We had a maintenance capital in 2013 of $110 million, which was spot on. We expect 2014 to be $110 million, and 2015 to be $110 million as well,” Stice added.
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