Foresight Energy LP Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Provides Earnings Guidance for the Full Year of 2017
Foresight Energy LP reported unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, total revenues were $230,394,000 against $166,085,000 a year ago. Operating income was $18,428,000 against $1,205,000 a year ago. Net loss was $111,184,000 against $41,607,000 a year ago. Net loss attributable to controlling interests was $111,184,000 against $41,704,000 a year ago. Net loss available to limited partner units - basic and diluted - common unitholders was $56,259,000 or $0.85 per share against $20,890,000 or $0.32 per share a year ago. Net loss available to limited partner units - basic and diluted - subordinated unitholders was $54,925,000 or $0.85 per share against $20,814,000 or $0.32 per share a year ago. Net cash provided by operating activities was $22,392,000 against $34,222,000 a year ago. Investment in property, plant, equipment and development was $19,908,000 against $5,040,000 a year ago. Adjusted EBITDA was $63,970,000 against $50,244,000 a year ago.
For the full year of 2017, the company expects 18.6 million tons represents between 84% to 91% of projected production of 20.5 million to 22 million tons. At these production levels, the company expects EBITDA of $285 million to $315 million and capital expenditures to total between $68 million and $73 million.