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Wednesday, November 1, 2017

=Emerge Energy Services LP (EMES) reported earnings on Wed 1 Nov 2017 (b/o)

  • An energy services firm that engages mainly in mining, producing and silica sand distribution businesses.

Earnings Higher than Expected: Emerge Energy Services swung back to earnings after an extended period of quarterly losses. The partnership reported earnings per unit from continuing operations of 18 cents, as against the Zacks Consensus Estimate of a loss of 7 cents.
Revenue Came in Higher than Expected: Revenues of $103.2 million were above the Zacks Consensus Estimate of $99 million.
Key Stats: Emerge Energy Services has classified its fuel business as discontinued operations as the partnership divested the unit. As such, the entire earnings of the partnership are now from the sand segment, which incurred adjusted EBITDA from continuing operation of $18.7 million. In the year-ago quarter, the company had generated a loss of $8.1 million. Better results were driven by increase in volumes sold, higher prices, and lower production costs on a per-ton basis. Total volumes sold jumped by 200% year-over-year to 1,480,000 tons.
The partnership stated that it will not pay a third-quarter distribution to its common unitholders under its amended credit agreement.

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