Westmoreland Coal Company announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported revenues of $323,025,000 compared to $357,597,000 a year ago. Operating loss was $21,067,000 compared to $883,000 a year ago. Loss before income taxes was $51,021,000 compared to $29,497,000 a year ago.
Net loss applicable to common shareholders was $50,382,000 or $2.69 per basic and diluted share compared to $28,589,000 or $1.54 per basic and diluted share a year ago. Adjusted EBITDA was $32,566,000 compared to $45,556,000 a year ago.

For the six months, the company reported revenues of $662,762,000 compared to $713,451,000 a year ago. Operating loss was $32,154,000 compared to income of $6,736,000 a year ago. Loss before income taxes was $88,786,000 compared to $50,523,000 a year ago. Net loss applicable to common shareholders was $87,184,000 or $4.68 per basic and diluted share compared to $1,182,000 or $0.06 per basic and diluted share a year ago. Adjusted EBITDA was $120,784,000 compared to $109,206,000 a year ago. Net cash provided by operating activities was $10,154,000 compared to $41,899,000 a year ago. Additions to property, plant and equipment was $13,104,000 compared to $12,231,000 a year ago.

The company revised earnings guidance for the full year of 2017. The company revised the midpoint of adjusted EBITDA guidance by $35 million. Nearly one-third of this is from contract extensions where it granted price concessions in exchange for extended contract length. The company now expects to report adjusted EBITDA in the range of $250 million to $270 million, free cash flow in the range of $90 million to $115 million, capital expenditures in the range of $40 million to $45 million and cash interest approximately $95 million compared to previous guidance of adjusted EBITDA in the range of $280 million to $310 million and free cash flow in the range of $115 million to $140 million for the same period.