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» Archive » Foresight Energy’s Third Quarter Results for 2014

Foresight Energy’s Third Quarter Results for 2014

Foresight Energy LP… today reported financial and operating results for the quarter ended September 30, 2014, setting new records for coal production, sales volume, sales revenue, and Adjusted EBITDA. Sales revenue for the quarter was $300.0 million, up 25% from the third quarter 2013. Increased sales revenue drove record Adjusted EBITDA of $105.0 million and net income attributable to the Partnership of $45.4 million, or $0.35 per unit. Net income included $16.0 million, or $0.12 per unit, of unrealized gains from its portfolio of coal sales derivatives.

“We are pleased to report third quarter results with new records for production, sales volumes, sales revenue, and Adjusted EBITDA,” said Michael Beyer, President and Chief Executive Officer. “The successful quarter was driven by continued strong performance at our mining operations including the contribution from Viking, our newest longwall, in its first full quarter of operation. Our high level of productivity continued as our Williamson, Hillsboro and Sugar Camp operations were the three most productive underground coal mines in the United States during the third quarter based on MSHA data for clean tons produced per man hour worked. Based on our ability to maintain our high productivity and low cost position, we have increased our distribution.”

Read the article on Yahoo! Finance.

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