Emerge Energy Services LP Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016; Provides Capital Expenditure Guidance for the Year 2016
For the nine months, the company reported revenue of $85,780,000 against $225,016,000 a year ago. Operating loss was $71,270,000 against operating income of $10,939,000 a year ago. Loss from continuing operations before provision for income taxes was $92,517,000 against income from continuing operations before provision for income taxes of $2,882,000 a year ago. Net loss from continuing operations was $92,546,000 or $3.82 per basic and diluted share against net income from continuing operations of $2,596,000 or $0.11 per basic and diluted share a year ago. Net loss was $51,995,000 or $2.15 per basic and diluted share against net income of $477,000 or $0.02 per basic and diluted share a year ago. Adjusted LBITDA was $26,706,000 against adjusted EBITDA of $46,852,000 a year ago. Cash flows used in operating activities were $27,835,000 against cash flows from operating activities of $42,563,000 a year ago.
The company currently expects total capital expenditures for 2016 to be below $15 million.