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Last $1.40 USD
Change Today -0.01 / -0.71%
Volume 78.0K
ULTR On Other Exchanges
Symbol
Exchange
Berlin
As of 4:30 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

ultrapetrol (bahamas) ltd (ULTR) Key Developments

Ultrapetrol (Bahamas) Ltd. Provides Earnings Guidance for the Fourth Quarter and Full Year of 2014; Provides Update on Recent Developments in its Offshore Supply Business

Ultrapetrol (Bahamas) Ltd. provided earnings guidance for the fourth quarter and full year of 2014. For the year, the company expects to report an adjusted EBITDA in the range of $57.0 million to $59.0 million. The company's fourth quarter results were adversely affected by developments in December 2014 related to lower than forecasted North Sea spot rates, extensive off-hire resulting from a now-resolved mechanical issue with one of the container feeder vessels in the Ocean segment, and increased costs related to the company's initiative to improve the reliability of its fleet of pushboats in the River Business. The company provided an update on recent developments in its Offshore Supply Business. The company announced that it had renewed a contract with Petrobras, which expired in March 2015, to employ the UP Turquoise for an additional four years at $30,050 per day, consistent with its previous contract. Additionally, the company confirmed that the UP Opal has commenced its employment on a four-year contract with Petrobras at a rate of $31,000, and the UP Coral is expected to commence a six-year contract with Petrobras in mid-2015 as an ROV Support Vessel ("RSV") earning $87,000 per day, which includes remuneration to a joint venture partner.

Ultrapetrol (Bahamas) Ltd. Announces Changes to the Board

Ultrapetrol (Bahamas) Ltd. announced that following the anticipated transition period, Felipe Men ndez and Ricardo Men ndez have resigned from the Company's Board, effective December 19, 2014. Ultrapetrol's Board is now comprised of five directors.

Ultrapetrol (Bahamas) Ltd., Annual General Meeting, Dec 10, 2014

Ultrapetrol (Bahamas) Ltd., Annual General Meeting, Dec 10, 2014., at 10:00 US Eastern Standard Time. Location: Ocean Centre, Montagu Foreshore. Agenda: To announce the results of the examination of proxies; declare a quorum present and proceed to business; to receive and approve the audited financial statements and the report of the Auditors thereon; to elect directors for the ensuing year; to consider and approve a standard resolution, ratifying and confirming all acts, transactions and proceedings of the Directors, Officers and Employees of the company and indemnifying the Directors, Officers and Employees against all claims, actions and proceedings that may be brought against them as a result of any act performed or omitted by any of them, acting in their respective capacities as Directors, Officers and Employees of the company; and to transact such other business as may properly come before the meeting and any adjournment thereof.

Ultrapetrol (Bahamas) Limited Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Fourth Quarter 2014

Ultrapetrol (Bahamas) Limited reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, net loss was $14.59 million compared to net income of $9.51 million a year ago. Total revenues were $99.36 million, compared to $112.59 million a year ago. Operating loss was $3.14 million compared to operating income of $14.03 million a year ago. Loss before income taxes was $14.54 million compared to Income before income taxes of $9.51 million a year ago. Adjusted consolidated EBITDA was $13.73 million, compared to $30.21 million a year ago. Adjusted net loss was $9.48 million compared to adjusted net income of $8.38 million a year ago. Adjusted LPS was $0.07 compared to Adjusted EPS of $0.06 a year ago. For the nine months, net loss was $16.58 million compared to net income of $14.63 million a year ago. Total revenues were $285.08 million, compared to $312.26 million a year ago. Operating income was $11.90 million compared to operating income of $33.23 million a year ago. Loss before income taxes was $11.42 million compared to Income before income taxes of $19.72 million a year ago. Net cash provided by operating activities was $27.14 million, compared to $19.06 million a year ago. Purchase of vessels and equipment was $46.54 million, compared to $24.13 million a year ago. Adjusted consolidated EBITDA was $58.72 million, compared to $82.10 million a year ago. Adjusted net loss was $11.11 million compared to adjusted net income of $20.62 million a year ago. Adjusted LPS was $0.08 compared to Adjusted EPS of $0.15 a year ago. The company expects EBITDA to be in the range of $66 million to $74 million, which will be driven by a combination of available spot rates in the North Sea and a transportation volume in the river, considering the seasonality of the fourth quarter 2014.

Ultrapetrol (Bahamas) Ltd., Q3 2014 Earnings Call, Nov 13, 2014

Ultrapetrol (Bahamas) Ltd., Q3 2014 Earnings Call, Nov 13, 2014

 

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