LGCYO.PFD (Legacy Reserves) EBIT : $-62.64 Mil (TTM As of Sep. 2019)

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What is Legacy Reserves EBIT?

Legacy Reserves's earnings before interest and taxes (EBIT) for the three months ended in Sep. 2019 was $-121.08 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Sep. 2019 was $-62.64 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Legacy Reserves's annualized ROC % for the quarter that ended in Sep. 2019 was -1.44%. Legacy Reserves's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2019 was -38.83%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield.

Legacy Reserves EBIT Historical Data

The historical data trend for Legacy Reserves's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Legacy Reserves EBIT Chart

Legacy Reserves Annual Data

Trend

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

EBIT

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-217.29

-626.15

24.47

36.71

163.81

Legacy Reserves Quarterly Data
	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19
EBIT	Get a 7-Day Free Trial															-15.97	109.53	-41.26	-9.84	-121.08

Competitive Comparison of Legacy Reserves's EBIT

For the Oil & Gas E&P subindustry, Legacy Reserves's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Legacy Reserves's EV-to-EBIT Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Legacy Reserves's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Legacy Reserves's EV-to-EBIT falls into.

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Legacy Reserves EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Sep. 2019 adds up the quarterly data reported by the company within the most recent 12 months, which was $-62.64 Mil.

Legacy Reserves (NAS:LGCYO.PFD) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Legacy Reserves's annualized ROC % for the quarter that ended in Sep. 2019 is calculated as:

	ROC % (Q: Sep. 2019 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2019 )	+	Invested Capital (Q: Sep. 2019 ))	/ count )
=	-26.676 * ( 1 - -0% )	/	( (1886.402	+	1810.751)	/ 2 )
=	-26.676	/	1848.5765
=	-1.44 %

where

	Invested Capital		(Q: Jun. 2019 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	1365.699	-	41.759	-	( 1.11	-	max(0, 643.638	-	81.176	+	1.11	))
=	1886.402

	Invested Capital		(Q: Sep. 2019 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	1281.197	-	63.312	-	( 13.121	-	max(0, 686.732	-	93.866	+	13.121	))
=	1810.751

Note: The Operating Income data used here is four times the quarterly (Sep. 2019) data.

2. Joel Greenblatt's definition of Return on Capital:

Legacy Reserves's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2019 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2019 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2019		Q: Sep. 2019
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-484.3	/	( ( (1282.442 + max(25.831, 0))	+	(1185.913 + max(-23.138, 0)) )	/	2 )
=	-484.3	/	( ( 1308.273	+	1185.913 )	/	2 )
=	-484.3	/	1247.093
=	-38.83 %

where Working Capital is:

	Working Capital		(Q: Jun. 2019 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(64.426	+	0	+	15.64)	-	(41.759	+	0	+	12.476)
=	25.831

	Working Capital		(Q: Sep. 2019 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(62.418	+	0	+	18.327)	-	(63.312	+	0	+	40.571)
=	-23.138

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Sep. 2019) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Legacy Reserves's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Sep. 2019 )
	=	-62.639	/	0.000
	=	%

Legacy Reserves EBIT Related Terms

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Legacy Reserves Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Legacy Reserves Inc (NAS:LGCYO.PFD) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

303 West Wall Street, Suite 1800, Midland, TX, USA, 79701

Website

http://www.legacyreserves.com

Legacy Reserves LP is a limited partnership which focuses on the acquisition and development of oil and natural gas properties primarily located in the Permian Basin, East Texas, Rocky Mountain and Mid-Continent regions of the United States. The company owns an interest in producing oil and natural gas properties in the Permian Basin, East Texas, Piceance Basin of Colorado, Texas Panhandle, Wyoming, North Dakota, Montana, Oklahoma and several other states. The company operates through the segment being the Acquisition and development of oil and natural gas properties.

Executives

Robert L Norris	officer: Chief Financial Officer	303 W. WALL ST, SUITE 1800, MIDLAND TX 79701
Ferrara Albert E Iii	officer: See Remarks	303 W WALL ST, SUITE 1800, MIDLAND TX 79701
Elliott Cory J	officer: Chief Information Officer	303 W WALL ST, SUITE 1800, MIDLAND TX 79701
Douglas W York	director	1776 LINCOLN ST, STE 700, DENVER CO 80202
Baines Creek Capital, Llc	10 percent owner	11940 JOLLYVILLE, SUITE 210-S, AUSTIN TX 78759
William R Granberry	director	ONE WILLIAMS CENTER, SUITE 3800, TULSA OK 74172
D Dwight Scott	director	1601 N.W. EXPRESSWAY, SUITE 1600, OKLAHOMA CITY OK 73118
Kyle D Vann	director	11 HEPPLEWHITE WAY, THE WOODLANDS TX 77382
Cary D Brown	director	C/O LEGACY RESERVES GP, LLC, 303 W. WALL STREET, SUITE 1600, MIDLAND TX 79701
G Larry Lawrence	director	C/O LEGACY RESERVES GP, LLC, 303 W. WALL STREET, SUITE 1600, MIDLAND TX 79701
Kyle A Mcgraw	officer: EVP and CDO	C/O LEGACY RESERVES GP, LLC, 303 W. WALL STREET, SUITE 1600, MIDLAND TX 79701
Paul T Horne	director, officer: Chairman and CEO	C/O LEGACY RESERVES GP, LLC, 303 W. WALL STREET, SUITE 1600, MIDLAND TX 79701
Micah C. Foster	officer: CAO and Controller	404 VETERANS AIRPARK LANE, SUITE 300, MIDLAND TX 79705
Dan G. Leroy	officer: VP, GC and Secretary	303 W. WALL STREET, SUITE 4200, MIDLAND TX 79701
James Daniel Westcott	officer: President and CFO	C/O LEGACY RESERVES GP LLC, 303 W WALL STREET SUITE 1400, MIDLAND TX 79701