Cloud Peak Energy Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016; Reports Impairments for the Third Quarter Ended September 30, 2016; Provides Earnings Guidance for 2016
For nine months, revenue was $572,510,000 against $863,374,000 a year ago. Operating income was $31,137,000 against loss of $25,369,000 a year ago. Loss before income tax provision and earnings from unconsolidated affiliates was $4,878,000 against $61,348,000 a year ago. Net loss was $2,670,000 against $48,704,000 a year ago. Loss per basic and diluted common share was $0.04 against $0.80 a year ago. Net cash provided by operating activities was $36,330,000 against $62,064,000 a year ago. Purchases of property, plant and equipment was $30,148,000 against $28,125,000 a year ago. Investment in development projects was $1,500,000 against $1,526,000 a year ago. EBITDA was $52.4 million against $29.6 million a year ago. Adjusted EBITDA was $58.6 million against $89.1 million a year ago. Adjusted loss per share was $0.01 against $0.29 a year ago.
For the quarter, the company reported impairments of $0.3 million.
For 2016, the company expects committed sales with fixed prices of approximately 61 million tons, adjusted EBITDA of $90 million $100 million, net interest expense of approximately $45 million, cash interest paid of approximately $40 million, depreciation, depletion, amortization, and accretion of $50 million $55 million and capital expenditures of $30 million $40 million.