Westmoreland Resource Partners, LP Reports Consolidated Unaudited Earnings Results for the Year Ended December 31, 2016; Provides Earnings Guidance for the Year 2017
For the year, the company reported total revenue 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 $76.931 million compared to $238.985 million a year ago. Net loss applicable to common shareholders was $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 $151.934 million compared to $45.562 million a year ago. Additions to property, plant and equipment was $46.132 million compared to $77.921 million a year ago. EBITDA was $105.265 million compared to LBITDA of $83.539 million a year ago. Adjusted EBITDA was $89.115 million compared to $59.205 million a year ago.
2017 outlook is similar to 2016 expected performance as resilient business model continues to yield consistent, predictable results. Adjusted EBITDA expected to be in the range of $280 million to $310 million. Free cash flow expected to be in the range of $115 million to $140 million. Capital expenditures expected to be in the range of $40 million to $50 million. Cash interest expected approximately $95 million.