Foresight Energy LP (FELP - Free Report) reported second-quarter 2017 adjusted loss of 1 cent per unit. The figure was narrower than the Zacks Consensus Estimate of a loss of 3 cents by 66.7%. The loss was also narrower than the year-over-year loss of 12 cents.
Including one-time items, the company reported GAAP loss of 12 cents, narrower than the year-ago quarter’s loss of 21 cents.
Total Revenue
Total revenue for the second quarter was $207.1 million, missing the Zacks Consensus Estimate of $228 million by 9.3%. Total revenue also dropped year over year by 8.4% from $226 million.
The drop was primarily due to a marginal decline in coal sales, year over year.
Highlights of the Release
Operating income amounted $19.1 million in the second quarter, up from $12.6 million in the prior-year quarter.
Interest expenses increased to $35.4 million from $34.3 million in the year-ago quarter.
Financial Highlights
Cash and cash equivalents nosedived to $7.2 million as of Jun 30, from $103.7 million as of Dec 31, 2016.
Long-term debt and capital lease obligations were $1.3 billion as of Jun 30, increasing from $1 billion for the quarter ended Dec 31, 2016.
For the first six months of 2017, cash flow from operations was $73.6 million.
Capital expenditure in the second quarter of 2017 was $21.7 million, up by $13.5 from the prior-year period.
Guidance
Sales Volume- The company reaffirmed its projected sales volume in the range of 20.5–22.0 million tons, with over 5.0 million tons for the international market for 2017.
Adjusted EBITDA- The company maintained its adjusted EBITDA for 2017 in the range of $285–$310 million based on its sales volumes and operating cost structure.
Capital Expenditures- Foresight Energy expects the capital expenditure to be in the range of $70–$77 million for 2017.
Peers Performance
Among other players from the industry that have reported their second-quarter earnings, SunCoke Energy’s (SXC - Free Report) loss was narrower than the Zacks Consensus Estimate, CNX Coal Resources LP (CNXC - Free Report) missed the same, whereas, Cloud Peak Energy's loss was in line with the same.
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Foresight Energy LP (FELP - Free Report) reported second-quarter 2017 adjusted loss of 1 cent per unit. The figure was narrower than the Zacks Consensus Estimate of a loss of 3 cents by 66.7%. The loss was also narrower than the year-over-year loss of 12 cents.
Including one-time items, the company reported GAAP loss of 12 cents, narrower than the year-ago quarter’s loss of 21 cents.
Total Revenue
Total revenue for the second quarter was $207.1 million, missing the Zacks Consensus Estimate of $228 million by 9.3%. Total revenue also dropped year over year by 8.4% from $226 million.
The drop was primarily due to a marginal decline in coal sales, year over year.
Highlights of the Release
Operating income amounted $19.1 million in the second quarter, up from $12.6 million in the prior-year quarter.
Interest expenses increased to $35.4 million from $34.3 million in the year-ago quarter.
Financial Highlights
Cash and cash equivalents nosedived to $7.2 million as of Jun 30, from $103.7 million as of Dec 31, 2016.
Long-term debt and capital lease obligations were $1.3 billion as of Jun 30, increasing from $1 billion for the quarter ended Dec 31, 2016.
For the first six months of 2017, cash flow from operations was $73.6 million.
Capital expenditure in the second quarter of 2017 was $21.7 million, up by $13.5 from the prior-year period.
Guidance
Sales Volume- The company reaffirmed its projected sales volume in the range of 20.5–22.0 million tons, with over 5.0 million tons for the international market for 2017.
Adjusted EBITDA- The company maintained its adjusted EBITDA for 2017 in the range of $285–$310 million based on its sales volumes and operating cost structure.
Capital Expenditures- Foresight Energy expects the capital expenditure to be in the range of $70–$77 million for 2017.
Peers Performance
Among other players from the industry that have reported their second-quarter earnings, SunCoke Energy’s (SXC - Free Report) loss was narrower than the Zacks Consensus Estimate, CNX Coal Resources LP (CNXC - Free Report) missed the same, whereas, Cloud Peak Energy's loss was in line with the same.
Zacks' 10-Minute Stock-Picking Secret
Since 1988, the Zacks system has more than doubled the S&P 500 with an average gain of +25% per year. With compounding, rebalancing, and exclusive of fees, it can turn thousands into millions of dollars.
But here's something even more remarkable: You can master this proven system without going to a single class or seminar. And then you can apply it to your portfolio in as little as 10 minutes a month. Learn the secret >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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