just energy group inc (JE) Snapshot

Just Energy Group Inc. announced June dividend of CAD 0.07 per common share payable on June 30, 2013 to shareholders of record at the close of business on June 17, 2013.

Just Energy Group Inc. reported earnings results for the fourth quarter and full year ended March 31, 2013. For the quarter, the company reported sales of $877.5 million compared to $794.0 million for the same period last year. Adjusted EBITDA from continuing operations was $87.5 million compared to $107.1 million for the same period last year. Profit from continuing operations was $203.4 million compared to loss from continuing operations of $75.6 million for the same period last year. Net income in the fourth quarter was $1.44 per share, up from a loss of $0.55 per share a year ago. Base EBITDA from continuing operations was $69.6 million against $74.7 million a year ago. This was primarily a result of lower gross margin from energy marketing due to lower cash receipts from weather option derivatives and lower gross margin per commercial customer. Base funds from continuing operations were $47.3 million against $54.6 million a year ago. For the full year, the company reported sales of $2,882.0 million compared to $2,654.8 million for the same period last year. Adjusted EBITDA from continuing operations was $248.3 million compared to $267.7 million for the same period last year. Profit from continuing operations was $601.7 million compared to loss from continuing operations of $128.5 million for the same period last year. Earnings per Share on continuing operations (basic) of $4.30 increased from a loss of $0.93 last year. Base EBITDA from continuing operations was $163.1 million against $193.3 million a year ago. Base funds from continuing operations were $96.9 million against $160.7 million a year ago. The company provided earnings guidance for the fiscal 2014. For the fiscal year 2014, the company estimates base EBITDA of $220 million. Because fiscal 2013 EBITDA was depressed by a number of factors noted earlier, this would result in 34% base EBITDA growth on a year over year basis. Building in interest costs and expected taxes, this would leave the company with a payout ratio on funds from operations of under 100% on its current $0.84 per share dividend for fiscal 2014. In fiscal 2014, the effectively all of the ten new utility territories entered in fiscal 2013 will reach sufficient size where they will move from cash flow negative to significantly cash flow positive.

Just Energy Group Inc. announced that they will report fiscal year 2013 results at 5:00 PM, Eastern Standard Time on May 16, 2013