Cloud Peak Energy (CLD) Posts Q2 EPS of $0.57

Cloud Peak Energy (NYSE: CLD) reported Q2 EPS of $0.57, which may not compare analyst estimate of ($0.33). Revenue for the quarter came in at $174.2 million versus the consensus estimate of $168.11 million.

• Second quarter 2016 net income was $35.3 million, which includes non-cash accounting income of $37.3 million for asset retirement obligation remeasurements, compared to a net loss of $(52.9) million for the second quarter of 2015.
• Adjusted EBITDA for the second quarter of 2016 was $19.3 million, including sales contract buyout revenue of $18.8 million, compared to Adjusted EBITDA of $10.6 million for the second quarter of 2015.
• Shipments for the second quarter of 2016 were 11.8 million tons, down from 16.0 million tons for the same period in 2015.
• Cost per ton was $10.50 in the second quarter of 2016, down from $10.75 in the second quarter of 2015.
• Cash margin in the second quarter was $2.10 per ton compared to $2.01 per ton in the second quarter of 2015.
• Available liquidity of $523.0 million, including cash and cash equivalents of $64.1 million, as of June 30, 2016.
• Colin Marshall, President and Chief Executive Officer, commented, “Increasing natural gas prices and a warm start to summer are beginning to improve the overall outlook towards the coal industry. After very low shipments in April and May, we started to see improved shipments in June and are optimistic that this trend will continue during the second half of the year. Our financial performance during the quarter benefited from buyouts by three customers and the impact of reduced reclamation cost assumptions on our asset retirement obligations. Once again our sites did a very good job of controlling costs during the quarter as we reacted to very low shipments.”

For earnings history and earnings-related data on Cloud Peak Energy (CLD) click here.

You May Also Be Interested In

• Intuitive Surgiical (ISRG) beats earnings, revenue expectations in Q1
• Marten Transport (MRTN) Misses Q1 EPS by 2c
• Provident Financial Services (PFS) Tops Q1 EPS by 3c