Pinnacle Renewable Holdings Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018; Provides Earnings Guidance for the Year 2018
Pinnacle Renewable Holdings Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the period, the company reported revenue was $71,022,000 against $67,847,000 a year ago. Net loss before income taxes was $18,468,000 against $389,000 a year ago. Basic and diluted net loss per share attributable to owners was $0.58 against $0.08 a year ago. Adjusted EBITDA was $11,957,000 against $12,156,000 a year ago. Maintenance capital expenditures were $1,038,000 against $1,000,000 a year ago. Growth capital expenditures were $26,454,000 against $2,753,000 a year ago. Cash provided by operating activities before net change in non-cash operating working capital was $9,490,000 against $10,954,000 a year ago.
The company remain on track to meet target of between $61 million to $65 million in Adjusted EBITDA for Fiscal 2018.