Emerge Energy Services LP Announces Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Provides Earnings Guidance for the Full Year of 2017 and 2018
Emerge Energy Services LP announced consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported revenues of $75,344,000 compared with $42,619,000 for the same period a year ago. Operating loss was $7,501,000 compared with $18,326,000 for the same period a year ago. Loss from continuing operations before provision for income taxes was $11,390,000 compared with $20,889,000 for the same period a year ago. Net loss from continuing operations was $11,390,000 compared with $20,669,000 for the same period a year ago. Net loss was $11,390,000 compared with $20,775,000 for the same period a year ago. Adjusted EBITDA was $68,000 compared with adjusted LBITDA of $10,648,000 for the same period a year ago. LBITDA was $3,536,000 against $21,737,000 a year ago. Cash flows used in operating activities was $12,939,000 against $19,491,000 a year ago. Adjusted EBITDA from continuing operations was $68,000 compared with adjusted LBITDA of $10,543,000 for the same period a year ago. Capital expenditures totaled $1.4 million. This includes approximately $939,000 of maintenance capital expenditures. Basic and diluted loss per common unit was $0.38 against $1.41 a year ago.
For the year of 2017, the company expects adjusted EBITDA of $40 million.
For the year of 2018, the company expects adjusted EBITDA is a range from $140 million to $160 million.