Vanguard Natural Resources Inc. (fka VNRRQ)

[RyGuy]

Technically I didn’t miss it. There is a column in the chart for E/P multiple. VNRR did not have earnings reported that is clearly visible.

However Earnings are not always as they seem. Most of VNRR’s losses on the balance sheet are due to non cash impacting impairment charges, or write downs on the balance sheet. Usually depreciation and amortization expenses.

A non-cash charge, as well as other types of write downs, will result in lower reported earnings, even though it technically did not impact the physical revenues of the business.

Sometimes non cash impairment is used as a tool to keep a business in negative earnings to eliminate corporate tax burdens. Doesn’t technically mean the company was not making money.

Another metric to review in comparison could be Revenue per share, gross profit, and EBITDA. Suddenly VNRR doesn’t look so bad. Continued debt reduction should continue to help improve the EBITDA numbers too.

VNRR
Revenue (ttm) 477.24M
Revenue Per Share (ttm) 23.75
Quarterly Revenue Growth (yoy) 15.50%
Gross Profit (ttm) 250.66M
EBITDA 92.06M

AMPY
Revenue (ttm) 340.14M
Revenue Per Share (ttm) 13.63
Quarterly Revenue Growth (yoy) -13.50%
Gross Profit (ttm) 202.51M
EBITDA 150.87M

PVAC
Revenue (ttm) 420.39M
Revenue Per Share (ttm) 27.92
Quarterly Revenue Growth (yoy) 130.90%
Gross Profit (ttm) 362.96M
EBITDA 378.53M