El Paso Pipeline Partners, L.P. (EPB), a provider of natural gas pipeline systems and storage facilities, Thursday announced its financial and operational outlook for fiscal 2010. Houston, Texas-based El Paso Pipeline now expects net income attributable to the company in the range of $230 million to $240 million for the coming fiscal year.
On average, 12 analysts polled by Thomson Reuters expect the company to report earnings of $1.59 per share on revenues of $553.14 million for the fiscal 2010. Analysts estimates typically exclude special items.
Net income is expected in the range of $300 million to $310 million, including net income attributable to non-controlling interests in the range of $65 million to $70 million.
Adjusted EBITDA is anticipated to range from $385 million to $395 million for the fiscal 2010. Expected distributable cash flow for the fiscal year ranges from $240 million to $250 million. The company also expects total capital expenditures in the range of $210 million to $240 million, including $175 million to $200 million of expansion capital. Maintenance capital is expected to be $35 million to $40 million.
Remaining construction backlog of expansion projects of the company is expected to be delivered on time and budget.
El Paso Pipeline also stressed its interest in delivering growth both through organic projects and though acquisitions. Jim Yardley, president and chief executive officer said, "Since the partnership's initial public offering in 2007 we have placed in-service seven organic growth projects and completed nearly $1 billion in acquisitions. In turn, we have delivered consistent growth in quarterly distributions for our unitholders. The committed backlog of organic projects and our confidence in making future successful acquisitions provide a solid platform for continued growth."
El Paso Pipeline Partners' parent company El Paso Corp. (EP), a natural gas transmission services provider, also announced its fiscal 2010 guidance today. El Paso said that it currently expects adjusted net income attributable to common stockholders in the range of $0.6 billion to $0.7 billion or $0.75 to $0.95 per share. Analysts expect the company to report earnings of $0.88 per share for the coming fiscal year.
EPB is currently trading at $24.24, up 0.19 or 0.79%, on the NYSE. EP is trading at $9.20, down 0.19 or 2.03%, on a volume of 2.93 million shares on the NYSE.
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