Energy Products Inc

KBRA Assigns an A+ Rating to the State of Louisiana Economic Damages Revenue Bonds [LA 1/LA 415 Connector Project]; Affirms Rating for Parity Debt; Outlook is Stable

Retrieved on:

Wednesday, November 22, 2023

Professional Services, Finance, KBRA, Reliance, Outlook, BP, Escrow, Innovation Act, Energy Products Inc, Bank, Security (finance), Bond, Damages

KBRA assigns a long-term rating of A+ to the State of Louisiana Economic Damages Revenue Bonds [LA 1/LA 415 Connector Project] (TIFIA), with a final maturity of September 1, 2033, and at the same time affirms the long-term rating of A+ for parity debt.

Key Points:

KBRA assigns a long-term rating of A+ to the State of Louisiana Economic Damages Revenue Bonds [LA 1/LA 415 Connector Project] (TIFIA), with a final maturity of September 1, 2033, and at the same time affirms the long-term rating of A+ for parity debt.
The long-term rating reflects the business and financial risk profile of BP p.l.c.
(“BP”, the “Company”), and the payment of Deepwater Horizon Economic Damages proceeds (“Damages”) by BP Exploration & Production Inc. (“BPXP”).
Such Damages secure debt service on the State of Louisiana (“the State”) Deepwater Horizon Economic Damages Revenue Bonds and TIFIA Loans (the “Bonds”; TIFIA is the “Transportation Infrastructure Finance and Innovation Act of 1998”).

NOV Announces Retirements and Appointments of Officers and Consolidation of Operational Segment Structure

Retrieved on:

Thursday, October 26, 2023

Oil, Gas, Energy, Environment, Other Energy, Sustainability, NYSE, IA Financial Group, Energy Products Inc, NOV, Grant Prideco, Intervention, Norris Production Solutions, Energy supply, Retirement, Completion, Renewable energy

Clay Williams, Chairman, President, and CEO stated, “I would like to thank both Isaac and Kirk for their many contributions to NOV throughout the years.

Key Points:

Clay Williams, Chairman, President, and CEO stated, “I would like to thank both Isaac and Kirk for their many contributions to NOV throughout the years.
The consolidation and reorientation of NOV’s operational structure is designed to make the business more efficient while capitalizing on the new technologies the Company is bringing to the marketplace.
The Energy Equipment segment will consist of NOV’s longer-cycle capital equipment businesses, including Rig Technologies, Intervention and Stimulation Equipment, and other project-based businesses.
The reorganization and the appointments of Mr. Rovig and Mr. Livingston will be effective January 1, 2024.

Ultralife Corporation Reports Third Quarter Results

Retrieved on:

Thursday, October 26, 2023

Manna, Energy Products Inc, System, EBITDA, Growth, Fruit, United States Department of the Army, EPS, Absorption, GAAP, Radio, Acquisition, Ultralife Corporation, Tax, Video game, Bookkeeping

NEWARK, N.Y., Oct. 26, 2023 (GLOBE NEWSWIRE) -- Ultralife Corporation (NASDAQ: ULBI) reported operating results for the third quarter ended September 30, 2023 with the following highlights:

Key Points:

NEWARK, N.Y., Oct. 26, 2023 (GLOBE NEWSWIRE) -- Ultralife Corporation (NASDAQ: ULBI) reported operating results for the third quarter ended September 30, 2023 with the following highlights:
“Driven by continuing strong demand from our government/defense and medical customers, sales grew 19% for both the 2023 third quarter and the first nine months to $39.5 million and $114.1 million, respectively, over the prior year periods.
On the strength of higher sales, gross margin improvement and disciplined spending, operating profit of $2.1 million far exceeded the operating loss of $0.6 million from the year-earlier quarter.
Operating expenses were $7.6 million, compared to $7.3 million for the 2022 third quarter.
See the “Non-GAAP Financial Measures” section of this release for a reconciliation of adjusted EPS to EPS and adjusted EBITDA to net income attributable to Ultralife Corporation.

Ultralife Corporation Reports Second Quarter Results

Retrieved on:

Thursday, July 27, 2023

NEWARK, N.Y., July 27, 2023 (GLOBE NEWSWIRE) -- Ultralife Corporation (NASDAQ: ULBI) reported operating results for the second quarter ended June 30, 2023 with the following highlights:

Key Points:

NEWARK, N.Y., July 27, 2023 (GLOBE NEWSWIRE) -- Ultralife Corporation (NASDAQ: ULBI) reported operating results for the second quarter ended June 30, 2023 with the following highlights:
Backlog increase to $110.9 million, the highest level in the Company’s history
“Driven by surging demand from our government/defense and medical customers, we delivered a 33% year-over-year sales increase to $42.7 million for the second quarter.
Operating expenses were $6.9 million, the same as that reported for the 2022 second quarter.
Adjusted EPS was $0.29 on a diluted basis for the second quarter of 2023, compared to $0.03 for the 2022 period.
See the “Non-GAAP Financial Measures” section of this release for a reconciliation of adjusted EPS to EPS and adjusted EBITDA to net income attributable to Ultralife Corporation.

Western Forest Products Inc. Announces Temporary Production Curtailments in British Columbia

Retrieved on:

Monday, June 12, 2023

TSX, Energy Products Inc, Lumber

VANCOUVER, British Columbia, June 12, 2023 (GLOBE NEWSWIRE) -- Western Forest Products Inc. (TSX: WEF) (“Western” or the “Company”) today announced plans to temporarily reduce its lumber production over the next month by approximately 19 million board feet due to weak market conditions.

Key Points:

VANCOUVER, British Columbia, June 12, 2023 (GLOBE NEWSWIRE) -- Western Forest Products Inc. (TSX: WEF) (“Western” or the “Company”) today announced plans to temporarily reduce its lumber production over the next month by approximately 19 million board feet due to weak market conditions.
The temporary reduction in lumber production will be spread across certain sawmills in the Company’s British Columbia manufacturing platform through the remainder of June and into early July.
Lumber production at impacted sites is expected to resume in mid-July depending on market conditions and available log supply.
The Company will continue to evaluate market conditions on an ongoing basis with a view to maintain a balance between production and demand.

Western Forest Products Inc. Confirms Record Date of Second Quarter 2023 Dividend

Retrieved on:

Wednesday, May 3, 2023

TSX, Energy Products Inc, Clothing, Holding company

VANCOUVER, British Columbia, May 03, 2023 (GLOBE NEWSWIRE) -- Western Forest Products Inc. (TSX: WEF) (“Western” or the “Company”) is pleased to confirm that a quarterly dividend of $0.0125 per share will be paid with respect to the Company’s second fiscal quarter of 2023 to shareholders of record as at the close of business on Friday, May 26, 2023 and payable on Friday, June 16, 2023.

Key Points:

VANCOUVER, British Columbia, May 03, 2023 (GLOBE NEWSWIRE) -- Western Forest Products Inc. (TSX: WEF) (“Western” or the “Company”) is pleased to confirm that a quarterly dividend of $0.0125 per share will be paid with respect to the Company’s second fiscal quarter of 2023 to shareholders of record as at the close of business on Friday, May 26, 2023 and payable on Friday, June 16, 2023.
The dividend will return a portion of the Company’s cash to shareholders, after taking into consideration the Company’s liquidity and ongoing capital needs.
The Board of Directors will review the amount of the dividend on a quarterly basis.
This dividend qualifies as an “eligible dividend” for Canadian income tax purposes.

Ultralife Corporation Reports First Quarter Results

Retrieved on:

Thursday, April 27, 2023

Manna, Insurance, Ultralife Corporation, EBITDA, Acquisition, Investment, System, Energy Products Inc, Erongo Battery Energy Storage System, Risk management, Arms industry, Bookkeeping

NEWARK, N.Y., April 27, 2023 (GLOBE NEWSWIRE) -- Ultralife Corporation (NASDAQ: ULBI) reported breakeven operating income and adjusted EBITDA of $1.2 million on revenue of $31.9 million for the first quarter ended March 31, 2023.

Key Points:

NEWARK, N.Y., April 27, 2023 (GLOBE NEWSWIRE) -- Ultralife Corporation (NASDAQ: ULBI) reported breakeven operating income and adjusted EBITDA of $1.2 million on revenue of $31.9 million for the first quarter ended March 31, 2023.
The operating results for the first quarter of 2023 were negatively impacted by the cybersecurity attack announced by the Company on March 2, 2023.
The Company’s deductible for its cyber-insurance policy of $0.1 million is included in our first quarter results.
See the “Non-GAAP Financial Measures” section of this release for a reconciliation of adjusted EBITDA to net income attributable to Ultralife Corporation.

Ultralife Corporation Reports Fourth Quarter Results

Retrieved on:

Thursday, March 2, 2023

Manna, EBITDA, EPS, Ultralife Corporation, System, Energy Products Inc, Growth, Acquisition, Excell, Erongo Battery Energy Storage System, Ultralife (album), Video game, Bookkeeping

NEWARK, N.Y., March 02, 2023 (GLOBE NEWSWIRE) -- Ultralife Corporation (NASDAQ: ULBI) reported operating profit of $0.2 million and adjusted EBITDA of $2.0 million on revenue of $36.1 million for the fourth quarter ended December 31, 2022.

Key Points:

NEWARK, N.Y., March 02, 2023 (GLOBE NEWSWIRE) -- Ultralife Corporation (NASDAQ: ULBI) reported operating profit of $0.2 million and adjusted EBITDA of $2.0 million on revenue of $36.1 million for the fourth quarter ended December 31, 2022.
For the fourth quarter of 2021, the Company reported an operating loss of $1.2 million and adjusted EBITDA of ($0.1) million on revenue of $23.8 million.
“For the fourth quarter, we delivered a 220-basis point improvement in gross margin over the third quarter primarily due to price realization.
See the “Non-GAAP Financial Measures” section of this release for a reconciliation of adjusted EBITDA to net income attributable to Ultralife Corporation.

Working Group to Explore Solutions for Western’s Alberni-Pacific Division

Retrieved on:

Thursday, January 26, 2023

Huu-ay-aht First Nations, The Beck Group, United Steelworkers, TSX, Energy Products Inc, C.H. Beck, APD

VANCOUVER, British Columbia, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Western Forest Products Inc. (TSX:WEF) (“Western” or the “Company”) today announced that the Company will not restart its Alberni-Pacific Division (APD) facility in its current configuration and has established a multi-party working group to explore potential viable industrial manufacturing solutions for the facility.

Key Points:

VANCOUVER, British Columbia, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Western Forest Products Inc. (TSX:WEF) (“Western” or the “Company”) today announced that the Company will not restart its Alberni-Pacific Division (APD) facility in its current configuration and has established a multi-party working group to explore potential viable industrial manufacturing solutions for the facility.
In 2022, Western, Tsawak-qin Forestry Limited Partnership and Huu-ay-aht First Nations commissioned the Beck Group to look at long-term economically viable primary manufacturing options for APD.
Over the next 90 days, the working group, which includes representatives from Western, the United Steelworkers union, Indigenous partners and contractually-aligned business, will explore potential viable industrial manufacturing solutions for the site.
“We are committed to exploring options with partners to advance potential solutions for the APD facility and appreciate the support of the working group members who have stepped up and joined us in this important work.”

Sitetracker's New Quickstart Implementation Helps Residential Solar Companies Speed-up Net-Zero Future

Retrieved on:

Tuesday, January 10, 2023

EV, Solar energy, QuickStart, Energy Products Inc, Maintenance, Intelligence, Renewable energy

MONTCLAIR, N.J., Jan. 10, 2023 /PRNewswire/ -- Sitetracker, the leading deployment operations management software for critical infrastructure providers, today announced its Quickstart implementation for residential solar companies.

Key Points:

MONTCLAIR, N.J., Jan. 10, 2023 /PRNewswire/ -- Sitetracker, the leading deployment operations management software for critical infrastructure providers, today announced its Quickstart implementation for residential solar companies.
Now, with Sitetracker's residential solar Quickstart, these companies can implement the software quickly and easily so they can realize benefits including:
Reduced project turnaround time through streamlined site discovery, deployment, and ongoing maintenance.
"The new Residential Solar Quickstart gets them up and running quickly, so they can deploy solar at the speed and scale that today's rapidly growing market requires."
Sitetracker's Quickstart solutions for residential solar, EV charging , and Sitetracker Telecom help accelerate the deployment of critical infrastructure for these industries.