Emerge Energy Services LP Announces Unaudited Consolidated Earnings and Production Results for the Third Quarter and Nine Months Ended September 30, 2018; Provides Earnings Guidance for the Full Year of 2018
For the nine months, the company reported total Revenues were $271.553 million against $261.161 million a year ago. Operating income was $29.449 million against $0.744 million a year ago. Income from continuing operations before provision for income taxes was $7.244 million against loss of $9.391 million a year ago. Net income from continuing operations was $7.061 million against loss of $9.333 million a year ago. Diluted earnings per share from continuing operations were $0.23 against loss of $0.42 a year ago. Net income was $7.061 million against loss of $12.458 million a year ago. Diluted earnings per share were $0.23 against loss of $0.52 a year ago. Adjusted EBITDA was $48.675 million against $26.345 million a year ago. EBITDA was $46,911 million against $17,246 million a year ago. EBITDA from continuing operations was $46,911 million against $20,371 million a year ago. Adjusted EBITDA from continuing operations was $48,675 million against $26,345 million a year ago. Cash flow from operating activities was $48,390 million against cash flow used in operating activities of $13,887 million a year ago.
For the quarter, the company reported volume of frac sand sold was 985,000 tons against 1,361,000 tons a year ago. Volume of non-frac sand sold was 88,000 tons against 119,000 tons a year ago. Total volume of sand sold was 1,073,000 tons against 1,480,000 tons a year ago. Total volume of frac sand produced was 1,042,000 tons against 1,375,000 tons a year ago.
For the nine months, the company reported volume of frac sand sold was 3,941,000 tons against 3,890,000 tons a year ago. Volume of non-frac sand sold was 224,000 tons against 233,000 tons a year ago. Total volume of sand sold was 4,165,000 tons against 4,123,000 tons a year ago. Total volume of frac sand produced was 3,979,000 tons against 4,032,000 tons a year ago.
The company is lowering full year 2018 Adjusted EBITDA guidance to a range of $50 million to $65 million.