Vanguard Natural Resources (VNR) Tops Q4 EPS Views

Vanguard Natural Resources (NASDAQ: VNR) reported Q4 EPS of $0.49, $0.34 better than the analyst estimate of $0.15.

Mr. Scott W. Smith, President and CEO, commented, “2015 was a challenging yet exciting year for the Company. We negotiated and closed two impactful mergers, the results of which include a 30% increase in our production, additional hedges on oil, natural gas and natural gas liquids and a quality group of employees that will allow us to successfully manage our expanded asset base and position us for future growth. Notwithstanding these positive events, the challenges we face as a result of the continued collapse in commodity prices necessitate we take further actions to strengthen our balance sheet by retaining our cash flow. Our recently completed debt exchange, the decision to monetize our SCOOP/STACK assets in Oklahoma, the significant reduction in our 2016 capital budget, the cash flow to be generated from our commodity price hedges, and the suspension of distributions on both the common and preferred units will allow us to make meaningful progress in reducing our debt in 2016. We believe these proactive steps are prudent in this environment and will ultimately create long-term value for all of our stakeholders.”

For earnings history and earnings-related data on Vanguard Natural Resources (VNR) click here.

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