Company Quick10K Filing
Southcross Energy Partners
10-Q 2019-06-30 Filed 2019-08-23
10-Q 2019-03-31 Filed 2019-05-15
10-K 2018-12-31 Filed 2019-04-01
10-Q 2018-09-30 Filed 2018-11-14
10-Q 2018-06-30 Filed 2018-08-14
10-Q 2018-03-31 Filed 2018-05-10
10-K 2017-12-31 Filed 2018-03-01
10-Q 2017-09-30 Filed 2017-11-13
10-Q 2017-06-30 Filed 2017-08-09
10-Q 2017-03-31 Filed 2017-05-09
10-K 2016-12-31 Filed 2017-03-09
10-Q 2016-09-30 Filed 2016-11-09
10-Q 2016-06-30 Filed 2016-08-05
10-Q 2016-03-31 Filed 2016-05-10
10-K 2015-12-31 Filed 2016-04-14
10-Q 2015-09-30 Filed 2015-11-06
10-Q 2015-06-30 Filed 2015-08-07
10-Q 2015-03-31 Filed 2015-05-08
10-K 2014-12-31 Filed 2015-03-06
10-Q 2014-09-30 Filed 2014-11-07
10-Q 2014-06-30 Filed 2014-08-06
10-Q 2014-03-31 Filed 2014-05-07
10-K 2013-12-31 Filed 2014-03-05
10-Q 2013-09-30 Filed 2013-11-13
10-Q 2013-06-30 Filed 2013-08-07
10-Q 2013-03-31 Filed 2013-05-08
10-K 2012-12-31 Filed 2013-04-15
10-Q 2012-09-30 Filed 2012-12-14
8-K 2019-09-20 Other Events
8-K 2019-09-17 Enter Agreement, Exhibits
8-K 2019-08-30 Enter Agreement, Exhibits
8-K 2019-08-19 Officers, Exhibits
8-K 2019-03-31 Enter Agreement, Off-BS Arrangement, Regulation FD, Exhibits
8-K 2019-03-18 Officers, Exhibits
8-K 2019-02-28 Regulation FD, Exhibits
8-K 2019-02-01 Officers, Exhibits
8-K 2018-12-20 Officers, Regulation FD, Exhibits
8-K 2018-12-19 Officers
8-K 2018-11-14 Earnings, Exhibits
8-K 2018-09-18 Enter Agreement, Officers, Exhibits
8-K 2018-09-12 Officers, Exhibits
8-K 2018-08-31 Regulation FD, Exhibits
8-K 2018-08-20 Leave Agreement, Officers, Exhibits
8-K 2018-08-14 Earnings, Exhibits
8-K 2018-08-02 Officers
8-K 2018-07-30 Leave Agreement, Regulation FD, Exhibits
8-K 2018-06-01 Enter Agreement, Other Events, Exhibits
8-K 2018-05-10 Earnings, Exhibits
8-K 2018-03-27 Shareholder Vote, Other Events, Exhibits
8-K 2018-03-05 Officers, Other Events
8-K 2018-03-01 Earnings, Other Events, Exhibits
8-K 2018-02-05 Regulation FD, Other Events, Exhibits
8-K 2018-02-01 Regulation FD, Other Events, Exhibits
8-K 2018-01-22 Enter Agreement, Off-BS Arrangement, Exhibits

Southcross Energy Partners Financials

SXE Metrics, Comps, Filings

Quarterly | Annual

Business

The following discussion of our business provides information regarding our principal gathering, transportation, processing, NGL fractionation and other assets. For a discussion of our results of operations, please read Part II, Item 7 of this report.

Southcross Energy Partners, L.P. (the "Partnership," "Southcross," "we," "our" or "us") is a Delaware limited partnership formed in April 2012. We are a master limited partnership, headquartered in Dallas, Texas, that provides natural gas gathering, processing, treating, compression and transportation services and access to NGL fractionation and transportation services. We also source, purchase, transport and sell natural gas and NGLs. Our assets are located in South Texas, Mississippi and Alabama and include two gas processing plants, one fractionation facility, one treating facility and gathering and transportation pipelines.

Southcross Holdings LP, a Delaware limited partnership ("Holdings") indirectly owns 100% of Southcross Energy Partners GP, LLC, a Delaware limited liability company, our general partner ("General Partner") (and therefore controls us), all of our subordinated and Class B convertible units (the "Class B Convertible Units") and currently owns 54.4% of our common units. Our General Partner owns an approximate 2.0% interest in us and all of our incentive distribution rights. EIG Global Energy Partners, LLC ("EIG") and Tailwater Capital LLC ("Tailwater") (collectively, the "Sponsors") each indirectly own approximately one-third of Holdings, and a group of Holdings' former term loan lenders own the remaining one-third of Holdings.


Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Equity

Income Statement ($BB Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($BB Quarterly)

Ops, Inv, Fin

Comps ($MM TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Andeavor Logistics (ANDX) 46% 5.6 6% 10,550 6,016 2,496 1,139 658 949 5,275
CNX Midstream Partners (CNXM) 0% 2.6 11% 1,181 743 224 0 126 148 392
Western Gas Equity Partners (WGP) 55% 6.8 4% 12,178 8,843 2,023 1,120 518 1,118 7,613
DCP Midstream (DCP) 15% 11.7 1% 14,034 7,219 8,303 1,228 114 494 5,799
Southcross Energy Partners (SXE) 7% -15.7 -18% 632 1 275 18 -114 -37 578
NuStar Energy (NS) 0% 89.6 -3% 6,136 3,789 1,746 0 -182 37 3,272
Noble Midstream Partners (NBLX) 57% 3.0 9% 2,623 1,083 612 350 239 312 934
Summit Midstream Partners (SMLP) 60% 10.4 -0% 2,901 1,827 465 280 -4 134 1,388
MPLX (MPLX) 0% 6.6 5% 41,281 22,421 7,270 0 2,125 2,884 19,149
Antero Midstream Partners (AM) 0% 3.7 10% 3,546 1,855 1,029 0 337 445 1,632
USA Compression Partners (USAC) 33% 6.2 1% 3,751 2,040 692 230 28 296 1,843
Blueknight Energy Partners (BKEP) 0% -51.5 -12% 314 332 403 0 -37 -5 256
Altus Midstream (ALTM) 40% 12.2 -0% 2,662 428 120 49 -8 21 250
Delek Logistics Partners (DKL) 19% -0.0 12% 768 910 605 115 95 150 -6
Plains All American Pipeline (PAA) 10% 2.2 11% 28,377 15,266 33,300 3,296 2,989 3,823 8,505
Enlink Midstream Partners (ENLK) 13% 13.0 -1% 9,417 6,956 883 -116 348 4,512
Shell Midstream Partners (SHLX) 0% 4.6 27% 2,019 2,776 519 0 550 550 2,525
American Midstream Partners (AMID) 13% 2.9 -0% 1,716 1,278 773 97 -7 157 451
Buckeye Partners (BPL) 31% 3.9 9% 8,510 4,420 3,707 1,151 768 966 3,749
Energy Transfer (ET) 27% 5.9 4% 91,856 70,938 40,493 10,886 3,549 7,853 46,639

Balance Sheet ($MM)2012-12-312013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-30
Cash72213411220821113542141715531312285
Accounts Receivable514249525866646971554544402930375233353034302823543940
Inventory
PP&E5515705996296446896949481,0251,0491,1691,2141,2211,2351,2481,2509711,2031,2121,2249151,2331,2371,237427430388
Assets6196266406466527027521,2051,2241,2021,3231,3291,3191,3131,2331,1971,1861,1461,1461,1141,1041,0861,0671,059610587632
Accounts Payable8855
Long-Term Debt191246236258267171227458476510561578625625570561560548547532527530529529526527662
Liabilities2923113013213372533195766046066576826986936176136225966115976056036026056146181
Stockholders' Equity326314294285275408386629620596667646621620615584564551535517500483465454-4-32-103
Income Statement ($MM)2012-12-312013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-30
Revenue205216173146147132951001232511412812266104787911085
Cost of Revenue8467
Gross Profit284818
R&D
SG&A665568155897688785775561612
Tax000-0000-000-0-0000000-000
Net Income-4-6-6-41-1-0-25-2-11-15-10-16-16-7-33-39-15-16-19-17-17-18-15-28-71
Cash Flow ($MM)2012-12-312013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-30
Cash Operating-214131410-227320-17471101115-141-8-40
Cash Investing-52-20-17-8-50-45-108-37-25-52-32-19-1013-5-7-53-2-5-3-4-2-2
Cash Financing481812-2374210110205929-68-7-12-2-152-13-0123