Energy Transfer Equity, L.P (ETE) has reported 25.80 percent fall in profit for the quarter ended Dec. 31, 2016. The company has earned $233 million, or $0.21 a share in the quarter, compared with $314 million, or $0.30 a share for the same period last year. Revenue during the quarter grew 13.29 percent to $10,803 million from $9,536 million in the previous year period. Gross margin for the quarter expanded 31 basis points over the previous year period to 21.02 percent. Operating margin for the quarter stood at negative 6.72 percent as compared to a positive 2.47 percent for the previous year period.
Operating loss for the quarter was $726 million, compared with an operating income of $236 million in the previous year period.
Working capital turns negative
Working capital of Energy Transfer Equity, L.P has turned negative to $292 million on Dec. 31, 2016 from positive $500 million on Dec. 31, 2015. Current ratio was at 0.96 as on Dec. 31, 2016, down from 1.10 on Dec. 31, 2015.
Debt moves up
Energy Transfer Equity, L.P has witnessed an increase in total debt over the last one year. It stood at $42,858 million as on Dec. 31, 2016, up 16.34 percent or $6,021 million from $36,837 million on Dec. 31, 2015. Total debt was 54.24 percent of total assets as on Dec. 31, 2016, compared with 51.75 percent on Dec. 31, 2015. Debt to equity ratio was at 1.90 as on Dec. 31, 2016, up from 1.50 as on Dec. 31, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
