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Foresight Energy (FELP) Reports Wider-than-Expected Loss
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Foresight Energy LP (FELP - Free Report) reported first-quarter 2017 adjusted loss of 12 cents per unit. The figure was wider than the Zacks Consensus Estimate of a loss of a penny. However, the loss was 29.4% narrower than the year-over-year loss of 17 cents per unit.
Including one-time items, the company reported loss of 85 cents per unit, wider than the year-ago quarter’s loss of 32 cents.
Total Revenue
Total revenue for the first quarter was $230.4 million, marginally beating the Zacks Consensus Estimate of $225 million by 2.4%. Total revenue also grew year over year by 38.8% from $166.1 million.
The growth was primarily driven by an almost 40% year-over-year increase in coal sales.
Foresight Energy LP Price, Consensus and EPS Surprise
Operating income came in at $18.4 million in the first quarter, substantially up from $1.2 million in the prior-year quarter.
Interest expenses increased to $43.4 million from $33 million in the year-ago quarter.
Financial Highlights
Cash and cash equivalents nosedived to $4.2 million as of Mar 31, 2017 from $103.7 million as of Dec 31, 2016.
Long-term debt and capital lease obligations were $1.3 billion as of Mar 31, 2017, increasing from $1 billion for the quarter ended Dec 31, 2016.
For the first three months of 2017, cash flow from operations was $22.4 million compared $34.2 million provided by operating activities.
Capital expenditure in the first three months of 2017 was $19.9 million, up $14.9 million from the prior-year period.
Peer Releases
CONSOL Energy Inc. (CNX - Free Report) holds a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
The company reported earnings of 17 cents per share in first-quarter 2017, beating the Zacks Consensus Estimate of 11 cents by 54.5%.
Natural Resource Partners LP (NRP - Free Report) , a Zacks Rank #3 stock, reported first-quarter 2017 adjusted earnings of 3 cents per unit, missing the Zacks Consensus Estimate of $1.67 by 98.2%.
CNX Coal Resources LP’s (CNXC - Free Report) , a Zacks Rank #3 stock, first-quarter 2017 adjusted earnings of 50 cents per unit missed the Zacks Consensus Estimate of 55 cents by 9%. However, the quarter’s earnings were up 354.5% year over year.
Zacks Rank
Foresight Energy has a Zacks Rank #4 (Sell).
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Foresight Energy (FELP) Reports Wider-than-Expected Loss
Foresight Energy LP (FELP - Free Report) reported first-quarter 2017 adjusted loss of 12 cents per unit. The figure was wider than the Zacks Consensus Estimate of a loss of a penny. However, the loss was 29.4% narrower than the year-over-year loss of 17 cents per unit.
Including one-time items, the company reported loss of 85 cents per unit, wider than the year-ago quarter’s loss of 32 cents.
Total Revenue
Total revenue for the first quarter was $230.4 million, marginally beating the Zacks Consensus Estimate of $225 million by 2.4%. Total revenue also grew year over year by 38.8% from $166.1 million.
The growth was primarily driven by an almost 40% year-over-year increase in coal sales.
Foresight Energy LP Price, Consensus and EPS Surprise
Foresight Energy LP Price, Consensus and EPS Surprise | Foresight Energy LP Quote
Highlights of the Release
Operating income came in at $18.4 million in the first quarter, substantially up from $1.2 million in the prior-year quarter.
Interest expenses increased to $43.4 million from $33 million in the year-ago quarter.
Financial Highlights
Cash and cash equivalents nosedived to $4.2 million as of Mar 31, 2017 from $103.7 million as of Dec 31, 2016.
Long-term debt and capital lease obligations were $1.3 billion as of Mar 31, 2017, increasing from $1 billion for the quarter ended Dec 31, 2016.
For the first three months of 2017, cash flow from operations was $22.4 million compared $34.2 million provided by operating activities.
Capital expenditure in the first three months of 2017 was $19.9 million, up $14.9 million from the prior-year period.
Peer Releases
CONSOL Energy Inc. (CNX - Free Report) holds a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
The company reported earnings of 17 cents per share in first-quarter 2017, beating the Zacks Consensus Estimate of 11 cents by 54.5%.
Natural Resource Partners LP (NRP - Free Report) , a Zacks Rank #3 stock, reported first-quarter 2017 adjusted earnings of 3 cents per unit, missing the Zacks Consensus Estimate of $1.67 by 98.2%.
CNX Coal Resources LP’s (CNXC - Free Report) , a Zacks Rank #3 stock, first-quarter 2017 adjusted earnings of 50 cents per unit missed the Zacks Consensus Estimate of 55 cents by 9%. However, the quarter’s earnings were up 354.5% year over year.
Zacks Rank
Foresight Energy has a Zacks Rank #4 (Sell).
Sell These Stocks. Now.
Just released, today's 220 Zacks Rank #5 Strong Sells demand urgent attention. If any are lurking in your portfolio or Watch List, they should be removed immediately. These are sinister companies because many appear to be sound investments. However, from 1988 through 2016, stocks from our Strong Sell list have actually performed 6X worse than the S&P 500.
See today's Zacks "Strong Sells" absolutely free >>