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American Energy Partners, Inc. Announces Record 2019 Year End Guidance Top Line Revenue Growth Over 230%
American Energy Partners, Inc. Announces Record 2019 Year End Guidance Top Line Revenue Growth Over 230%.
About this update from American Energy Partners, Inc.
[{"type":"text","content":"\n ALLENTOWN, PA, March 09, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – American Energy Partners, Inc. (“American Energy”) (PINK: AEPT), a diversified energy company, announces today that we have completed a record year for the fiscal year 2019 year ending December 31 and are poised to continue growth through 2020 with little correlation to the overall market. Key highlights: Top line revenue grew by well over 230% Organic growth revitalized and above September guidance at +60%. Total assets grew by 68%. American Energy management cut its net operating loss by over 50%. American Energy’s ending cash balance increased by over 130%. Exogenous factors contributing to economic slowdown in the oil and gas industry, as well as many other factors have not and for the foreseeable future should not affect American Energy. We have successfully insulated American Energy by focusing on the energy services sector, while still maintaining ownership of a small oil and gas well portfolio despite price volatility. American Energy has a strong “Buy and Build” strategy for growth. Our strategic agenda has since completed the acquisition of both Hickman Geological Consulting, LLC and Oilfield Basics, LLC. Both acquisitions were immediately cash accretive and in line with our disciplined acquisition process. We maintain a robust pipeline of potential targets. This pipeline is carefully selected to fit within our strategic pillars. Sellers must be accretive. We are not focused on turnarounds at the moment. Below are key highlights of the acquisition process: Sustainable Margins Recurring Revenues Quality Customers Strong Management We insist on retaining existing management and sellers generally receive a combination of cash, stock, and notes plus performance-based incentives. When asked for comment, American Energy CEO Brad Domitrovitsch stated, “Though we are certainly encouraged by the most recent KPI’s, we still see a great deal of work in the coming months. We have identified a pathway to profitability which can be summed up in four elements.” Mr. Domitrovitsch went on to describe this pathway to profitability and is paraphrased below: Deleveraging & Releveraging Balance Sheet Streamlining Corporate Overhead Enacting Operational Efficiencies & Controls Uplisting to OTCQB and Annual Au...