CNX Coal Resources LP Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Reports Production Results for the Fourth Quarter Ended December 31, 2016; Re-Affirms Earnings Guidance for the Year 2017
For the quarter, coal production was 1.8 million tons compared to 1.2 million tons a year ago. Coal sales were 1.8 million tons compared to 1.2 million tons a year ago.
For full year, total revenue and other income was $281,117,000 against $327,011,000 a year ago. Net income was $25,851,000 against $64,538,000 a year ago. Net income allocable to limited partner units - basic & diluted was $19,487,000 compared to $22,888,000 a year ago. Net income per limited partner unit diluted was $0.83 compared to $0.99 a year ago. Adjusted EBITDA was $77,749,000 compared to $115,964,000 a year ago. Net cash provided by operating activities was $73,098,000 against $76,908,000 a year ago. Capital expenditures were $12,704,000 against $34,073,000 a year ago.
Based on current contracted position, production plans and outlook for the coal markets, re-affirming previously announced guidance ranges for 2017 as: coal sales of 6.25-6.75 million tons, adjusted EBITDA of $90-$110 million, and maintenance capital expenditures of $30-$36 million.