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Landmark Infrastructure Partners LP Reports Fourth Quarter and Full Year 2017 Results
Fourth Quarter Highlights
Fourth Quarter and Full Year 2017 Results
For the full year ended December 31, 2017, the Partnership reported rental revenue of $52.6 million, net income of $19.3 million, and net income attributable to common unitholders of $0.53 per diluted unit. The Partnership reported EBITDA of $48.1 million, Adjusted EBITDA of $51.7 million, and distributable cash flow of $28.8 million in the full year period ended December 31, 2017.
“In 2017, we delivered another year of strong operating results as our core ground lease assets produced stable and consistent returns and the Partnership continued to grow its asset base through accretive acquisitions. In 2018, we expect to layer in more meaningful growth from our new development initiatives, while our core ground lease assets continue to deliver the stable and predictable cash flows that we have been accustomed to,” said
On December 21, 2017, the Board of Directors of the Partnership’s general partner declared a quarterly cash distribution of
Capital and Liquidity
At-The-Market (“ATM”) Equity Programs
Conference Call Information
A webcast replay will be available approximately two hours after the completion of the conference call through
Non-GAAP Financial Measures
EBITDA, Adjusted EBITDA and distributable cash flow are non-GAAP supplemental financial measures that management and external users of our financial statements, such as industry analysts, investors, lenders and rating agencies, may use to assess:
We believe that the presentation of EBITDA, Adjusted EBITDA and distributable cash flow provides information useful to investors in assessing our financial condition and results of operations. The GAAP measures most directly comparable to EBITDA, Adjusted EBITDA and distributable cash flow are net income (loss) and net cash provided by operating activities. EBITDA, Adjusted EBITDA and distributable cash flow should not be considered as an alternative to GAAP net income (loss), net cash provided by operating activities or any other measure of financial performance or liquidity presented in accordance with GAAP. Each of EBITDA, Adjusted EBITDA and distributable cash flow has important limitations as analytical tools because they exclude some, but not all, items that affect net income (loss) and net cash provided by operating activities, and these measures may vary from those of other companies. You should not consider EBITDA, Adjusted EBITDA and distributable cash flow in isolation or as a substitute for analysis of our results as reported under GAAP. As a result, because EBITDA, Adjusted EBITDA and distributable cash flow may be defined differently by other companies in our industry, EBITDA, Adjusted EBITDA and distributable cash flow as presented below may not be comparable to similarly titled measures of other companies, thereby diminishing their utility. For a reconciliation of EBITDA, Adjusted EBITDA and distributable cash flow to the most comparable financial measures calculated and presented in accordance with GAAP, please see the “Reconciliation of EBITDA, Adjusted EBITDA and Distributable Cash Flow” table below.
Source: Landmark Infrastructure Partners LP