Brief: CSI Compressco Sees Q1 2020 Revenue $95 mln To $97 mln

CSI Compressco LP

13/04/2020 23:04

April 13 (Reuters) - CSI Compressco LP  CCLP.O :
    * SEES Q1 2020 REVENUE $95 MILLION TO $97 MILLION
    * WITHDRAWING ITS PREVIOUSLY ISSUED FINANCIAL GUIDANCE FOR
FULL
YEAR 2020
    * PROJECTING Q1 NET LOSS BEFORE INCOME TAX PROVISION OF
BETWEEN
$7.5 MILLION AND $8.0 MILLION
    * PARTNERSHIP HAS INITIATED STAFF REDUCTIONS, WAGE AND
SALARY
REDUCTIONS,
    * Q1 REVENUE PROJECTED TO BE BETWEEN $95 MILLION AND $97
MILLION
    * CSI COMPRESSCO - PROJECTED 2020 CAPITAL EXPENDITURES BEING
REDUCED BETWEEN 54% AND 63% TO $28 MILLION TO $35 MILLION
    * PARTNERSHIP'S FABRICATION OPERATIONS IN MIDLAND, TEXAS
WILL BE
SHUT DOWN
    * SALARY REDUCTIONS OF BETWEEN 5% AND 20% FOR EMPLOYEES AND
EXECUTIVES

Source text for Eikon:  ID:nPn1LGXqfa 
Further company coverage:  CCLP.O 

 ((Reuters.Briefs@thomsonreuters.com;))