CorEnergy Announces Second Quarter 2018 Results
KANSAS CITY, MO - August 1, 2018 - CorEnergy Infrastructure Trust, Inc. (“CorEnergy” or the “Company”) today announced financial results for the second quarter, ended June 30, 2018.
Second Quarter Performance Summary
Second quarter financial highlights are as follows:
For the Three Months Ended
June 30, 2018
Per Share
Net Income (Attributable to Common Stockholders)1



NAREIT Funds from Operations (NAREIT FFO)1



Funds From Operations (FFO)1



Adjusted Funds From Operations (AFFO)1



Dividends Declared to Common Stockholders

1 Management uses AFFO as a measure of long-term sustainable operational performance. NAREIT FFO, FFO, and AFFO are non-GAAP measures. Reconciliations of NAREIT FFO, FFO and AFFO, as presented, to Net Income Attributable to CorEnergy Stockholders are included at the end of this press release. See Note 1 for additional information.
Recent Developments
Maintained dividend: Declared common stock dividend of $0.75 per share for the second quarter 2018, in line with the previous eleven quarterly dividends
Pinedale LGS participating rents: Continued receipt of participating rents on the Pinedale LGS
Grand Isle Gathering System: Tenant, Energy XXI Gulf Coast, announced acquisition by Cox Oil
MoGas Pipeline: Filed its FERC rate case on May 31, 2018
Repurchase Program: The Board of Directors authorized the repurchase of up to $10 million of preferred stock over a period of 12 months, effective August 6, 2018. Any such repurchase will be subject to the covenants under our Credit Facility.
"The CorEnergy team was focused on portfolio management activities during the second quarter. We filed a general rate case with the FERC for our MoGas Pipeline and engaged in the evaluation of prospects for the Grand Isle Gathering System," said CorEnergy President and CEO Dave Schulte. "Success of our stewardship is exhibited in the $1.1 million of participating rents CorEnergy

The following information was filed by Corenergy Infrastructure Trust, Inc. (CORR) on Wednesday, August 1, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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