secwatch.observer — SEC 8-K summary
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Issuer:     CorEnergy Infrastructure Trust, Inc. (—)
CIK:        0001347652
Form:       8-K
Filed at:   2023-03-07T23:59:59+00:00
Accession:  0001347652-23-000021
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 4.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CorEnergy restates 2021-2022 financials, suspends dividends, Q4 revenue $36.3M
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- Restates financials for 2021 and 2022 quarterly periods due to EPS and non-controlling interest allocation errors.
- Q4 2022 total revenue $36.3M, net loss $553K, Adjusted EBITDA $9.4M.
- Board suspends dividends on 7.375% Series A Preferred and Common Stock; preferred dividends accrue.
- Filed tariff increases of 36% on SPB and 107% on KLM pipelines; 10% increase collected in March 2023.
- 2023 outlook: Adjusted EBITDA $33-35M, capex $10-11M; credit facility extended to May 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1347652/000134765223000021/0001347652-23-000021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1347652/000134765223000021/corr-20230303.htm
  HTML page:      https://secwatch.observer/filing/0001347652-23-000021

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer