Nuverra Environmental Solutions, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Reports Impairment of Long-Lived Assets for the Second Quarter Ended June 30, 2018; Provides Capital Spending Guidance for the Second Half of 2018
For the six months, the company reported total revenue of $98,617,000 compared to $80,761,000 a year ago. Operating loss was $39,657,000 compared to $34,557,000 a year ago. Loss before income taxes was $43,343,000 compared to $55,567,000 a year ago. Net loss was $43,343,000 or $3.71 per basic and diluted share compared to $55,549,000 or $0.37 per basic and diluted share a year ago. Net cash used in operating activities was $472,000 compared to $13,275,000 a year ago. Purchases of property, plant and equipment was $7,103,000 compared to $2,319,000 a year ago. LBITDA was $14,176,000 compared to $11,043,000 a year ago. Total adjusted EBITDA was $6,495,000 compared to $1,336,000 a year ago.
For the quarter, the company reported impairment of long-lived assets of $332,000.
The company expects a higher level of capital spending in the second half of 2018 to meet increased service demands of its customers.