Brief: Step Energy Services Reports Qtrly Loss Per Share Of $0.89

STEP Energy Services

06/03/2019 11:43

March 6 (Reuters) - Step Energy Services Ltd  STEP.TO :
    * . REPORTS FOURTH QUARTER AND YEAR END 2018 RESULTS,
PROVIDES AN
UPDATE TO ITS AMENDED CREDIT FACILITIES, AND ANNOUNCES
APPOINTMENT OF NEW INDEPENDENT DIRECTOR
    * QTRLY LOSS PER SHARE $0.89
    * GENERATED FOURTH QUARTER CONSOLIDATED REVENUE OF $169.0
MILLION
VERSUS $154.3 MILLION
    * EXTREME COMMODITY PRICE VOLATILITY AT THE END OF 2018 HAS
CREATED A CAUTIOUS OUTLOOK FOR INDUSTRY CAPITAL SPENDING IN 2019
    * STEP ENERGY SERVICES - IN KEEPING WITH MANAGEMENT'S
CONSERVATIVE
OUTLOOK FOR 2019, STEP'S BOARD OF DIRECTORS HAS APPROVED A 2019
CAPITAL PROGRAM OF $48 MILLION
    * FOR 2019 TOTAL 2019 CAPITAL SPEND IS PROJECTED TO BE $60
MILLION, SHOULD COMPANY ELECT TO SPEND 2018 CARRY FORWARD
CAPITAL
    * Q4 REVENUE VIEW C$196.1 MILLION -- REFINITIV IBES DATA
    * SAYS IMMEDIATE APPOINTMENT OF EVELYN ANGELLE AS AN
INDEPENDENT
DIRECTOR OF COMPANY AND A MEMBER OF STEP'S AUDIT COMMITTEE

Source text for Eikon:  ID:nGNX3J2c0F 
Further company coverage:  STEP.TO 

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