Evolve Transition Infrastructure LP (SNMP) is a publicly-traded limited collaboration engaged in the purchase, production, and possession of infrastructure crucial to the energy supply transition to the lesser carbon sources.
The price of SNMP stock during regular trading on March 4, 2022, was $0.67 with a gain of 21.4%. At last check in the premarket on March 7, 2022, the stock further jumped by 8.60%.
SNMP: Events and Happenings
On March 3, 2022, SNMP and Stonepeak Partners LP affiliates’ Nuvve Holding Corp. JV Levo Mobility reported a 10-year agreement award by Illinois’ Troy Community Consolidated School District 30-C to support the district in its resolution to completely electrify its fleet. Troy had collaborated with Levo for the transition of its fleet of 64 school buses to clean energy in 5 years.
On November 04, 2021, SNMP updated on awarding the equity inducement to its executive management team. On November 04, 2021, SNMP and HOBO Renewable Diesel, LLC announced a deal to fund the building of HOBO’s preliminary project for the production of approximately 120 million gallons of renewable fuels yearly.
SNMP: Key Financials
On March 26, 2021, SNMP released its financial results for the full fiscal year 2020 ended December 31, 2020. Some of the important highlights are mentioned below.
Revenue
Total revenues in the FY 2020 were $56.9 million corresponding to $76.6 million in the comparable period of 2019. The company observed a decline of $19.6 million in its revenue over the year.
EPS
Diluted net loss per share in FY 2020 was $118.7 million or $5.95 (loss per share) compared to $51.1 million or $1.23 (earnings per share) in the same quarter in 2019. The company observed a decline in its net loss over the year.
Conclusion
SNMP stock down-performed by 38% in the past six months as the economic conditions were crippling in the midst of the pandemic. But the circumstances are much better now as visible in the stock position of the company. The recent premarket leap in the stock price is owing to the Russia-Ukraine conflict which caused the oil price to gain a record per barrel price of more than $100.
