- Just Energy (JE -3.1%) says it will remain a standalone energy retailer and take steps to strengthen its balance sheet, after concluding a strategic review.
- The company says a proposed recapitalization plan, including a note exchange, is expected to raise C$100M in committed new equity, reduce overall debt by C$275M and materially lower annual cash interest payments.
- Just Energy also reports a FQ4 loss from continuing operations of C$0.93/share vs. a $0.23 loss in the year-ago quarter.
- Given the uncertainty associated with COVID-19, the company provides a wider than normal base EBITDA guidance range of C$130M-C$160M for FY 2021.