Westmoreland Coal Company reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported revenues of $392.737 million compared to $341.664 million a year ago. Operating income was $22.641 million compared to operating loss of $121.621 million a year ago. Loss before income taxes was of $6.176 million compared to $144.629 million a year ago. Net loss applicable to common shareholders was of $7.551 million or $0.41 per basic and diluted share compared to $110.181 million or $6.10 per basic and diluted share a year ago. Adjusted EBITDA was $89.115 million compared to $59.205 million a year ago.


For the year, the company reported revenues of $1,477.960 million compared to $1,419.518 million a year ago. Operating income was $38.130 million compared to operating loss of $145.696 million a year ago. Loss before income taxes was of $76.931 million compared to $238.985 million a year ago. Net loss applicable to common shareholders was of $27.101 million or $1.47 per basic and diluted share compared to $213.645 million or $11.93 per basic and diluted share a year ago. Net cash provided by operating activities was of $151.934 million compared to $45.562 million a year ago. Additions to property, plant and equipment were of $46.132 million compared to $77.921 million a year ago. Adjusted EBITDA was $271.855 million compared to $222.832 million a year ago.

The company provided earnings guidance for the full year of 2017. For the year, the company expects to sell coal of 40 million tons to 50 million tons. Adjusted EBITDA was $280 million to $310 million, free cash flow was of $115 million to $140 million and capital expenditure of $40 million to $50 million. The company expects cash interest of approximately of $95 million.