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CorEnergy Announces Third Quarter 2018 Results
KANSAS CITY, MO - October 31, 2018 - CorEnergy Infrastructure Trust, Inc. ("CorEnergy" or the "Company") today announced financial results for the third quarter, ended September 30, 2018.
Third Quarter Performance Summary
Third quarter financial highlights are as follows:
 
For the Three Months Ended
 
September 30, 2018
 
 
 
Per Share
 
Total
 
Basic
 
Diluted
Net Income (Attributable to Common Stockholders)1
$
5,300,449

 
$
0.44

 
$
0.44

NAREIT Funds from Operations (NAREIT FFO)1
$
11,438,997

 
$
0.96

 
$
0.89

Funds From Operations (FFO)1
$
12,119,724

 
$
1.02

 
$
0.93

Adjusted Funds From Operations (AFFO)1
$
12,193,922

 
$
1.02

 
$
0.92

Dividends Declared to Common Stockholders
 
 
$
0.75

 
 
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 third quarter 2018, in line with the previous 12 quarterly dividends
Pinedale LGS: Continued to receive participating rents
Grand Isle Gathering System: Tenant, Energy XXI Gulf Coast, completed merger with Cox Oil
"The last several months have been a transitional time for CorEnergy," said President and CEO, Dave Schulte. "We have a new tenant, Cox Oil, at our largest asset, where the lease terms remain the same. We continue to make progress with our rate case at MoGas and are actively seeking and reviewing acquisition opportunities, while adhering to the disciplines which have served us well in the past."

1

The following information was filed by Corenergy Infrastructure Trust, Inc. (CORR) on Wednesday, October 31, 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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