Emerge Energy Services LP Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Earnings Guidance for the First Quarter and Second Quarter of 2017
For the year, the company reported revenues of $128.399 million compared to $269.518 million a year ago. Operating loss was $89.596 million compared to income of $4.257 million a year ago. Loss before provision for income taxes was of $113.406 million compared to $6.925 million a year ago. Net loss from continuing operations was $113.215 million or $4.55 per diluted share compared to $7.183 million or $0.30 per diluted share a year ago. Net loss was $72.770 million or $2.92 per diluted share compared to $9.411 million or $0.39 per diluted share a year ago. Adjusted LBITDA was $37.354 million compared to adjusted EBITDA of $50.704 million a year ago. LBITDA was $28.396 million compared to EBITDA of $32.088 million a year ago. Cash outflows from operating activities were $47.326 million compared to cash inflows from operating activities of $47.325 million a year ago.
The company announced that it will generate positive EBITDA in the second quarter of 2017.
The company expects breakeven EBITDA is possible for the first quarter of 2017.