NuStar Energy FY24 Outlook: Net Income $220M-$260M, EBITDA $720M-$780M
Portfolio Pulse from Benzinga Newsdesk
NuStar Energy has provided a positive financial outlook for FY24, projecting a net income of $220M-$260M and EBITDA of $720M-$780M, even as it anticipates a merger with Sunoco LP to close in Q2 2024. The company also plans to self-fund its operational expenses, growth capital, and distributions, aiming for a year-end debt-to-EBITDA ratio below four times.
February 15, 2024 | 11:48 am
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POSITIVE IMPACT
NuStar Energy projects a strong financial performance for FY24 with net income between $220M-$260M and EBITDA of $720M-$780M, independent of its upcoming merger with Sunoco LP.
The positive financial outlook for FY24, including significant net income and EBITDA projections, indicates strong operational performance and financial health. This outlook, especially being independent of the anticipated merger with Sunoco LP, suggests confidence in NuStar's standalone capabilities and strategic planning. The commitment to self-funding and maintaining a healthy debt-to-EBITDA ratio further supports the expectation of a positive short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100